Orano - Annual Activity Report 2024 152 4 SUSTAINABILITY STATEMENT Environmental information Due to the efforts already made to reduce process-related emissions, 75% of the group’s scope 1 and 2 emissions are directly related to the energy consumed (fossil and electric). The impact is particularly strong in mining activities with consumption of fossil fuels and electricity with high emission factors. As such, the renewal of mining capacities is the main challenge for the group in terms of scopes 1 and 2 decarbonization. This analysis made it possible to set the following four priorities for existing operations and future projects: ● energy efficiency; ● the substitution of fossil fuels and the electrification of uses; ● decarbonization of electricity in countries with high emission factors (Kazakhstan, Canada), directly or through project financing (Renewable Energy Certificates, REC); and ● the reduction of residual greenhouse gas emissions from processes (N2O). Orano has been analyzing its scope 3 emissions since the reference year 2019 in order to identify the action levers needed to reduce them. Scope 3 represents more than 87% of the group’s total GHG emissions in 2024. 74% of the group’s emissions were located at the front end of its activities, including in particular 66% in the items “Purchases of goods and services” and “Non-current assets”. To date, around 50% of emissions are calculated using monetary data and related emission factors, which is an uncertain measurement. The group deploys its actions to reduce scope 3 in three areas: ● make progress in measuring scope 3 emissions, in particular by accurately identifying the emission factors of the group’s suppliers and increasing the proportion of the assessment calculated using physical data, which until now has been less than 50%; ● carry out jointly with the main suppliers a joint initiative to reduce their impact in the context of their activities on behalf of the group; and ● continue eco-design actions: a specific working group was launched, bringing together all the group’s project players, one of whose objectives is to help build an efficient decarbonization approach. Estimate of locked-in emissions by 2030 Locked-in emissions represent future emissions likely to be caused by the assets or products sold by the company. The group carried out a preliminary analysis of its locked-in emissions, which highlighted: ● no locked-in emissions within its scope 3, in particular because the footprint associated with the use of the products sold is not dependent on the product itself; ● locked-in emissions related to the process in the absence of capture technology (N2O in France), up to 11 ktCO2e; ● locked-in emissions associated with assets (fossil fuel boilers) for a total estimated at 70 ktCO2e; ● locked-in emissions associated with land-use change under the SRI method for a total estimated at 30 ktCO2e; ● locked-in emissions up to 30 ktCO2e associated with electricity consumption in France for which the supplier has committed to reach 30 gCO2e/kWh. All locked-in emissions amounted to 141 ktCO2e. The greenhouse gas emissions reduction target set by the group takes these lockedin emissions into account, without abandoning existing assets. Financial amounts associated with the transition plan and link with taxonomy All actions to reduce greenhouse gas emissions represent approximately 70 million euros, almost all of which are identified as eligible for the European green taxonomy, in accordance with the information disclosed in Section 4.2.1.6. In 2024, the group spent 8 million euros on decarbonization projects, of which 6 million euros are eligible for the European green taxonomy. The group has not made any investments in coal, oil or gas. It is not included in the “Paris Agreement” benchmarks. Climate change mitigation policy and actions Orano has included a “Climate” priority in its commitments and roadmap. This roadmap covers climate change mitigation and climate change adaptation, all united within a Climate Strategy (see Section 4.2.1.1). Climate change mitigation aims to reduce the group’s emissions through various levers, described in Section 4.2.1.4. Monitoring of the Commitment roadmap for 2030, the HSE policy and the Climate strategy is the responsibility of the Health – Safety – Environment (HSE) Director, member of the Executive Committee. It is presented to the Executive Committee and the Board of Directors at least once a year. These documents are available on the group’s website. The group has taken into account the expectations of its stakeholders in their development, namely the expectations of its customers to contribute to the reduction of their scope 3, and of its shareholders and investors to contribute to the alignment of their portfolios with the Paris Agreement on the climate. Actions to reduce scopes 1 and 2 In 2024, the group continued its efforts to reduce its energy footprint. Replacing a burner in a gas boiler has reduced natural gas consumption by 12% compared to 2023. As part of its new roadmap, the group is working to identify post2025 energy performance projects.
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