04 Sustainability Statement European Taxonomy 4.7.2.3 Conclusion concerning eligible activities in 2024 The following table shows all the Group activities identified as eligible (excluding the activities of joint ventures and associates), presented by impacted environmental objective(1): European Taxonomy Corresponding Michelin Group activity Substantial contribution to one of the environmental objectives Reported KPIs Economic activity Description Activity Mitigation Adaptation Circular economy Net sales CapEx OpEx 3.6 Manufacture of other low-carbon technologies Manufacture of technologies aimed at substantial GHG emission reductions Passenger car, Light truck and Truck tire manufacturing X X X X X(1) 8.2 Data-driven solutions for GHG emission reductions Development or use of ICT solutions that are aimed at collecting, transmitting and storing data and at its modeling and use where those activities are predominantly aimed at the provision of data and analytics enabling GHG emission reductions Development of fleet management telematics solutions to improve fleet fuel efficiency X X X 5.1 Repair, refurbishment and remanufacturing Repair, refurbishment and remanufacturing of goods that have been used for their intended purpose before by a customer Truck tire retreading (replacing worn tread with new tread) X X X 7.2 Renovation of existing buildings Construction and civil engineering works or preparation thereof Renovation of head office buildings X X X(1) (1) This activity is immaterial and therefore has not been included in the figures in Appendix C. 4.7.2.4 Change in reported Taxonomy-eligible activities, 2023-2024 Based on the 2023 scope of taxonomy reporting (activities 3.6, 5.1 and 8.2), in 2024, the Group can report that: n 53% of sales were Taxonomy-eligible (54% in 2023); n 55% of CapEx was Taxonomy-eligible (59% in 2023); To improve the reliability of reported data, in 2024, the eligible portion of sales does not include any estimated adjustment, which explains the change from 2023. As concerns the OpEx of Taxonomy-eligible activities in 2024, given the low materiality of the OpEx KPI, the Group claims exemption from the OpEx reporting obligation as specified in article 8 of the Taxonomy regulation. The decline in the CapEx of Taxonomy-eligible activities primarily reflects the wider scope of consolidation. 4.7.2.5 Analysis of Taxonomy-non-eligible Group activities Based on Michelin’s understanding of the current Regulation, some of the Group’s activities do not meet the eligibility screening criteria even though they have a potentially positive impact on the environment: n Process electrification capital projects to support the Group's decarbonization plan: these projects are delivering substantial gains in energy efficiency and a smaller carbon footprint, but they are not yet recognized in the European Taxonomy. (1) The detailed tables of these indicators, which comply with Delegated Regulation (EU) 2021/2178 rules concerning the content and presentation of Taxonomy-related disclosures, are presented in Appendix C below. 259 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
RkJQdWJsaXNoZXIy NzMxNTcx