To meet our Scope 1 and 2 target of 80% reduction in emissions by 2030, we focus on:

• Renewable energy: We plan to continue sourcing renewable energy for our HQ and key production sites. We expect to source renewable energy for additional sites in 2025, further reducing market-based Scope 2 emissions.
• Energy efficiency: We expect to save approximately 140 tCO2eq in location-based Scope 2 emissions per year from the implemented energy efficiency initiatives.
• Fleet electrification: Reducing the number of fossil fuel cars in our fleet will lead to an increasing annual reduction of our Scope 1 emissions, the majority of which come from car fuels.

To meet our Scope 3 target of 25% reduction in emissions by 2030, we prioritize:

• Product and packaging design: We have increased the use of lower carbon materials in new product development, particularly in the Enterprise division. From having used less than 1% recycled or renewable plastic in our products in 2021, we have increased the proportion of recycled or renewable plastics and synthetic fibers out of total weight of plastic and synthetic fibers to 11.4% across our product portfolio in 2024.
• Decarbonization of transport and logistics: Reducing air freight is a significant decarbonization lever for GN. In 2024, we reduced the share of air freight (by tonkm) from the global to regional distribution hubs in our Enterprise division from 94% in 2021 to 22%, which was the main driver for the absolute reduction of 50,313 tCO2eq in Scope 3 category 4 (14% of total Scope 3 emissions in 2021).
• Renewable energy in the supply chain: To reduce emissions from outsourced manufacturing we track our suppliers’ share of renewable energy consumption and will engage them to increase where necessary in support of our long-term targets.

As a globally operating manufacturing company, climate change is a material topic for GN. The company has a climate transition plan in place, consisting of an overarching policy, science-based targets, climate-related incentives for the CEO and CFO, and several decarbonization initiatives. The Board of Directors has approved the policy, targets, and incentives. GN's Environmental Policy covers the approach to climate change, including the commitment to reduce greenhouse gas (GHG) emissions in line with scientific consensus. The policy includes expectations for suppliers to provide accurate carbon data and sets out decarbonization levers and criteria for prioritizing initiatives. GN does not consider carbon offsetting as an alternative to carbon reduction and will only engage in certified carbon removal. The policy is approved by the Board of Directors, and Executive Management is accountable for implementation.