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.

Significant decreases in Scope 3 emissions occurred in categories 11 (use of sold products) and 12 (end of life of sold products): 17% and 30% respectively. Emissions in category 2 (capital goods) decreased by 26%. Emissions in category 6 (business travel) increased by 265% from the 2021 baseline. Other significant decreases occurred in categories 1 (purchased goods and services) and 4 (upstream transportation and distribution).