04 Sustainability Statement Water and marine resources (E3) 4.4.2 TARGETED WATER RESOURCE POLICIES 4.4.2.1 The Group’s Environmental Policy and water matters Material water matters are addressed in the Group’s Environmental Policy. In managing these matters, the Environmental Governance body is supported by the Water Committee, one of its five committees. Underscoring the importance of these matters, the Environment Policy specifically affirms the 2050 water objective that Michelin aims to not have any impact on water availability in local communities. The policy is organized by life-cycle stage, with water-related impacts, risks and opportunities covered in two sections: n a section on sustainable purchasing addresses matters related to raw materials and the upstream value chain; n a section on production plants, research and development centers, offices and other operating sites. l This section attests to the Group’s commitment to conducting its business sustainably, while protecting the environment on and around its sites by identifying environmental opportunities and risks, improving environmental performance and reducing impacts. l Each site’s performance is managed through an environmental management system and tracked by a composite indicator that includes a water withdrawal metric. l The own operations section also specifies the Group’s 2030 water impact target, i.e., a 33% reduction in water withdrawals versus 2019, weighted for each site’s waterstress coefficient (metric: water-stress coefficient multiplied by cubic meters of water withdrawn per tonne of semifinished and finished product). Managing water consumption in our operations Water consumption is managed by the Water Program, supported by a multi-disciplinary team of experts. Note that the Environmental Policy prohibits any newly built site from withdrawing water from non-renewable underground sources. For every site, the Environmental Policy is grounded in its prioritizing hierarchy of levers (Avoid – Reduce – Reuse – Recycle – Renew). Purpose-specific levers for reducing water withdrawals include: n reducing and eliminating water leaks; n reducing steam consumption; n reducing evaporation; n using water-saving systems; n measuring and controlling water consumption; n raising people’s awareness of water issues. While the Environmental Policy stipulates that water sufficiency is the priority pathway to a more sustainable sourcing of water, water treatment technologies are also needed to meet our objectives. Major water-saving projects undertaken in 2024 included the closure of once-through cooling circuits, the installation of adiabatic towers, the detection and replacement of damaged water pipes, and the installation of reverse osmosis systems to recycle wastewater. During the product and service design phase, Michelin activates a number of levers to reduce each one’s environmental impacts, including life cycle assessments (see section 4.1.5 Holistic management of the Group’s impacts, risks and opportunities) and eco-design processes(1). Because the metric used to track the Group’s performance is based on a water-stress coefficient specific to each site, the priority focus is on the sites suffering from the most water stress. 4.4.2.2 Addressing water matters in the Physical Climate Risks Adaptation Policy The 2024 Physical Climate Risks Adaptation Policy covers the risk of water stress and is applicable to all the fully consolidated subsidiaries (see section 4.2 Climate change (E1)). (1) Eco-design provides a framework for innovation that helps to reduce the environmental footprint of new solutions by improving our knowledge of life cycle impacts and our ability to manage them. 233 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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