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.

In 2024, 38.5% of our energy consumption came from renewable sources (up from 2.9% in 2021), including purchase of 4,886 MWh of bundled RECs (4,500 MWh from a power purchase agreement in Denmark, the remainder coming from green tariffs) and 7,454 MWh of unbundled RECs in Malaysia, China, and the U.S., where we have hearing aid production facilities. All purchased RECs came from solar or wind power generation.