Our decarbonisation activities have so far not required significant dedicated funding of operating expenses. The majority of activities are executed with existing resources as an integrated part of ordinary business operations. We have not allocated increased operating expenses to decarbonisation activities and we are sensitive to increased cost in our supply chain and our own operations in our cost base.

In terms of CapEx funding for transition initiatives have not identified significant CapEx investment needs. Our action in regard to fleet electrification is so far funded with our ordinary CapEx spend and we have not allocated excess CapEx funding capacity for this purpose.

The Science-Based Target initiative validated our near-term emission reduction target in 2023, which implies reductions across scope 1 and 2 by 46.5%, and reductions in scope 3 by 27.6% by 2030. For 2025, our goal is to achieve a 4.7% reduction from our baseline in each of Scope 1, Scope 2, and Scope 3 emissions. Throughout 2025, we will also establish specific reduction targets for individual Scope 3 categories. This effort is part of our broader strategy to meet our near-term target for 2030 and our net-zero ambitions in the long run. In 2022, we committed to becoming net-zero by 2030 across scope 1 and 2 (market-based) and by 2040 across scope 3 categories. These net-zero targets are set in-house and are in addition to our validated near-term targets. Our net-zero targets are measured against a 2019 baseline, which we believe is unaffected by extraordinary events or circumstances, unlike the Covid-19 effects that impacted 2020. Our net-zero targets assume an absolute reduction of at least 90% of our carbon emissions against the 2019 baseline. This includes an absolute reduction of 90% for each of scope 1 and 2 by 2030, and for scope 3 by 2040. These targets do not adjust for future developments.