04 Sustainability Statement European Taxonomy 4.7 EUROPEAN TAXONOMY 4.7.1 INTRODUCTION AND METHODOLOGY Regulation (EU) 2020/852 of June 18, 2020 (the “Taxonomy Regulation”), supplemented and amended by the Climate Delegated Regulations (EU) 2021/2139 and 2023/2485 and the Environment Delegated Regulation (EU) 2023/2486, establishes a framework to encourage investment in sustainable economic activities by requiring companies to disclose the proportion of their sales, capital expenditure and operating expenditure that contributes substantially to the environmental objectives: n climate change mitigation; n climate change adaptation; n sustainable use and protection of water and marine resources; n transition to a circular economy; n pollution prevention and control; n protection and restoration of biodiversity and ecosystems. In 2024, for the first time, taxonomy-related data are disclosed in the Group’s CSRD Sustainability Statement. To assess the contribution of its activities to the environmental objectives, the Group has followed a four-step process: 4.7.2 ASSESSING ELIGIBILITY 4.7.2.1 2024 scope of reporting In the 2024 reporting exercise, companies had to disclose the proportion of their economic activities deemed to be eligible for Taxonomy assessment and the proportion deemed to be aligned with the Taxonomy’s six environmental objectives (climate change mitigation, climate change adaptation, sustainable use and protection of water and marine resources, transition to a circular economy, pollution prevention and control, and protection and restoration of biodiversity and ecosystems). The Group performed a multi-objective assessment of its tire manufacturing activities in relation to the climate change mitigation (CCM) and climate change adaptation (CCA) objectives. The sales, capital expenditure and operating expenses reviewed for the purpose of this report concern all the Group’s worldwide operations, corresponding to the scope of consolidated financial reporting for the year, in accordance with the provisions of the Delegated Act. The reporting period is the same as for the Sustainability Statement, i.e., from January 1 to December 31, 2024. Because disclosures must be aligned with IFRS financial statements, companies in which the Group exercises joint control or significant influence are excluded from the calculation of the KPIs defined by the Delegated Act of the Taxonomy Regulation. As a result, only fully consolidated subsidiaries of the Michelin Group are included in the calculation of the sales, capital expenditure and operating expense indicators (concerning the scope of consolidation, see the corresponding note to the financial statements in Chapter 5 below). List defined in the delegated acts To one or more environmental objectives Do not cause any significant harm to any of the other objectives Human Rights & Fundamental Principles and Rights at Work Identification of eligible activities Substantial Contribution DNSH Do no significant harm Compliance with minimum safeguards + + = Eligible Activities = Aligned Activities 257 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
RkJQdWJsaXNoZXIy NzMxNTcx