04 Sustainability Statement Climate change (E1) 4.2.8.6 Michelin as an accelerator of solutions for the transition to low-carbon mobility A pioneer in hydrogen fuel cells, Michelin has been working for more than 20 years to make hydrogen one of its sources of future growth. Symbio, which the Group acquired before turning it into a joint venture with Forvia in 2019 and selling a stake to Stellantis, is dedicated to producing hydrogen fuel cells and impelling the faster deployment of a form of clean mobility that contributes to preserving the environment and human health. In line with its objectives, in 2023 Symbio inaugurated SymphonHy, comprising both its first gigafactory and its center of technological and industrial excellence, in Saint-Fons, in France’s Auvergne-RhôneAlpes region. Also in 2023, Watèa by Michelin, a Group subsidiary in which Crédit Agricole Leasing & Factoring has also invested, announced the launch of a new solution offering a range of hydrogen vehicles, alongside its battery-electric vehicles. The new service will enable Watèa customers to enjoy all the benefits of hydrogen mobility. To spur the deployment of hydrogen-electric mobility in local French communities, since 2019, Michelin has been a shareholder in HYmpulsion, a public-private partnership, alongside the Auvergne-Rhône-Alpes regional authority, ENGIE, Crédit Agricole and Banque des Territoires. The goal is to open the green hydrogen mobility market in the Auvergne-RhôneAlpes region by building and operating a network of 20 hydrogen charging stations for light and heavy vehicles. 4.2.9 METRICS AND TARGETS In response to the “higher energy performance standards for tires” opportunity, the Group is committed to improving the rolling resistance of its tires by 10% over the 2020-2030 period. As of end2024, rolling resistance had been improved by 4.3%, in line with the target. To seize the “rising demand for a wider range of electric vehicles” opportunity, the Group’s target is to design all its tires to be fully compatible with both internal combustion and electric vehicles, which was already the case in 2024. With regard to the positive impact of “facilitating greater energy efficiency by offering services to optimize the use and management of vehicle fleets and accelerating the transition to zero-emission mobility,” the Group has not yet identified a target. To mitigate the negative impact of “contributing to climate change through direct and indirect Scope 1, 2 and 3 GHG emissions,” Michelin has, since June 2024, been pursuing new, more ambitious emissions reduction targets. As mentioned in the transition plan, these targets have been approved by the SBTi as being consistent with a 1.5°C global warming scenario. 4.2.9.1 Short-to-medium term (according to the SBTi) The short-term Scope 1 and 2 target is a 47.2% reduction in absolute terms over the 2019-2030 period. To meet it, the Group is pursuing since 2019 two ambitious objectives for 2030: n improve production plant energy efficiency by 24% versus 2019 (metric: MWh used per tonne produced); n eliminate the use of coal to generate own or purchased heat or cooling (metric: percentage of coal in our heat and cooling sources). The percentage of renewable energy is not a target as such, but instead a projection of what is needed to meet the CO2 emissions reduction targets in absolute terms by 2030. The required Scope 3 (excluding use-phase emissions) target is a 27.5% reduction in absolute terms over the 2019-2030 period. It covers the three categories – purchased raw materials, upstream and downstream transportation, and upstream purchased energy – that accounted for more than 70% of required Scope 3 emissions in 2019. 4.2.9.2 Long term The long-term Scopes 1 and 2, and required Scope 3 (excluding use-phase emissions) target is a 90% reduction in absolute terms over the 2019-2050 period. It applies to the entire Group, whose overarching goal is to achieve net-zero CO2 emissions by 2050. 207 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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