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.

GHG emissions in 2021 have been restated across all scopes because of developments, improvements in data quality, methodological changes, and updates to emission factors. Base year emissions in categories have been restated. The baseline for Scope 1 and 2 emission reduction target has been restated from 10,507 tCO2eq to 9,832 tCO2eq, a decrease of 6.4%.