An estimated 41,792 tCO2e are locked-in emissions from the use of GN products sold in 2024, which currently makes up 16% of our total Scope 3 emissions (see page 75). These use phase emissions could still be reduced through firmware updates in the market, but it remains difficult to quantify potential emissions reductions from such initiatives. As these emissions are a result of electricity consumption, we expect significant reduction to take place as a result of the global shift towards renewable energy as part of the transition to a net-zero economy outside GN’s direct control. Given the general duration of use of our products, we don’t expect these locked-in emissions to prevent us from reaching net-zero in 2050, regardless of the pace of the transition to renewable energy.

GN's climate reduction initiatives are anchored within the existing business model and financial planning. The company does not expect significant changes in economic activities due to climate objectives. However, small increases in CAPEX and OPEX alignment may occur in eligible activities like new building construction and energy efficiency initiatives. GN's ability to implement actions is supported by the fact that it is not excluded from Paris-aligned benchmarks.