GN has set Board-approved science-based GHG emission reduction targets to manage our climate-related impact and risks by decarbonizing in line with the scientific consensus on the urgency of addressing climate change and the degradation of nature. We are committed to reduce absolute GHG emissions (metric tons CO2eq) in Scope 1 and 2 by 80% and in Scope 3 by 25% by 2030 from a 2021 baseline. GN is also committed to reaching net-zero GHG emissions by 2050 at the latest, meaning 90% reduction with neutralization of unabated emissions to reach net zero. These targets cover all GHGs stipulated in the GHG Protocol and all activities in GN’s own operations and value chain globally. Our near-term targets have been set using the Science Based Targets initiative’s (SBTi) Criteria v5.0 with the absolute contraction approach and the cross-sector pathway, which is based on the P1 scenario in the IPCC Special Report on Global Warming of 1.5°C. It has been assumed that GN’s core business activities will not change by 2030. We have aligned our net-zero target to the SBTi’s cross-sector absolute reduction method for long-term targets.

Total Scope 3 emissions decreased by 26% from the 2021 baseline. Significant decreases 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).