The EU Taxonomy identifies six environmental objectives, including climate change mitigation and adaptation. Taxonomy-aligned activities are those that comply with the requirements laid down in Article 3 of the Taxonomy Regulation. Our reporting requirements under Article 8 of the Taxonomy Regulation require non-financial undertakings to disclose information on the proportion of the turnover, capital expenditure, and operating expenditure of their activities related to assets or processes associated with environmentally sustainable economic activities.

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.