We are aware that the transition to a climate-neutral economy could be slowed down by locked-in GHG emissions. Regarding Scope 1 and 2, certain processes cannot be converted to electricity yet. For Scope 3 downstream, the locked-in emissions depend on how the market will evolve in the coming years, in particular on the share of BEVs (Battery Electric Vehicle). However, it is important to point out that the higher the share of BEVs, the harder it is to reach the target set for Scope 3 upstream. We are developing plans to reduce emissions from downstream ICEs, and in particular, we are evaluating various technologies, including alternative fuels.

We recognize the critical importance of addressing residual emissions by supporting certified carbon avoidance projects through the purchase of carbon avoidance credits. By combining emission reduction measures with climate contributions to certified carbon avoidance projects, we have achieved Carbon Neutrality for Scope 1 and 2 GHG emissions in all our operations for 2021, 2022, and 2023. As our planned reduction initiatives continue to drive a sustained decrease in emissions by at least 90 percent of our Scope 1 and 2 absolute CO2eq emissions by 2030 versus 2021, we will progressively adjust our climate contribution activities accordingly.