The major challenges shaping our business environment ENVIRONMENTAL CHALLENGES Intensifying impacts Year after year, the impacts of climate change are becoming increasingly real and visible. The projected average increase in global temperatures, now estimated by the UN at 3.1°C by 2100, represents a major challenge for humanity, At the same time, ecosystems are being degraded, biodiversity is being lost and natural and fossil resources are being depleted. This means that we have to rethink the current growth model in ways that tend towards carbon neutrality, while protecting resources more effectively. This is what we have to do to support a sustainable future and a resilient planet. +1.55°C above pre-industrial levels: 2024 was the warmest year on record, with an average temperature close to the limit set by the Paris Agreement. Source: World Meteorological Organization. 1 million animal and plant species are threatened with extinction. Source: UN. MICHELIN’S PRIORITIES ■ Reach net-zero carbon emissions by 2050 for Scopes 1 and 2 and for the Scope 3 categories of upstream and downstream logistics activities, suppliers, treatment of end-of-life tires and energy. ■ Demonstrate a firm commitment to biodiversity, particularly in the natural rubber value chain. ■ Make eco-design a standard and foster the circular economy to preserve resources, in particular by increasing the percentage of recycled or renewable materials used in our tires. ■ Continue to reduce the rolling resistance of our tires and further attenuate the release of tire and road wear particles. ■ Reduce our water withdrawals more quickly. The major challenges shaping our business environment Manufacturing in a world full of challenges 01 Today, the world is seeing an acceleration in three underlying trends that are disrupting societies and spurring companies to transform their operations. Inspired by its All Sustainable vision, Michelin has clearly identified the resulting challenges and defined its priorities in responding to these structural transitions. The major challenges shaping our business environment 12 2024 UNIVERSAL REGISTRATION DOCUMENT_MICHELIN
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