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 disclosed GHG emissions in Scopes 1, 2, and 3, covering all business activities, for the first time in 2021. Data accuracy for that reporting year is sufficient for reliable representation of GN’s GHG emissions. To improve the accuracy and comparability of their carbon accounting, they have updated their methodology, most significantly changes to the emission factors applied. The 2021 baseline has been recalculated so there is no effect on their targets.