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.

Reporting of Scope 3 GHG emissions is based on the GHG Protocol guidance. Categories 1, 3, 4, 7, and 11 are calculated from 12 months of data, while categories 2, 5, 6, 8, 9, and 12 are calculated from 10 months of data. Category 2 has been calculated for 9 months of data, but includes a significant lease expense occurring in Q4. Primary data from suppliers was used in categories 1, 3, 4, 7, and 8, contributing to an estimated 14% of total Scope 3 emissions.