In 2023, URW estimated the costs of the environmental transition for its European activities until 2030. The CapEx requirements include:

• Net Zero Target: €28 million covering both the implementation of the long-term energy action plan and energy mix improvement measures.
• Operation: No additional CapEx on top of the net zero near-term target.
• Construction: Limited increase in construction cost due to embodied carbon targets and environmentally related objectives.
• Transport: No CapEx as the installation of EVs is planned on a leasing basis.

These expenditures are associated with the Group's climate mitigation plan as stated in the financial resources section.