3.1 Climate Faced with the global climate challenge, GEODIS is determined to act responsibly by following a path to decarbonization in compliance with the Paris Agreement. The Group has been taking concrete action for many years to reduce the intensity of its greenhouse gas emissions and is working on updating its commitments according to a Science-Based Targets (SBT) approach covering scope 1, 2 and 3 emissions. The Group’s reported emissions (three scopes) totaled 4,171 ktCO2e in 2022. Approximately 92% of these emissions correspond to Scope 3, and more specifically to subcontracted transport. This finding underlines the importance for the Group of working closely with its partners with the same approach to decarbonization. Through its actions and its commitment, GEODIS wants to contribute to reducing the carbon footprint of its customers, more and more of whom are expressing clear and ambitious expectations. Freight transportation is one of the significant sources of greenhouse gas emissions, accounting for around 8% of global emissions(3). In many countries and regions, regulations are becoming stricter and the Group is striving to anticipate the changes imposed by these regulations. Alongside the actions being taken to reduce greenhouse gas emissions, GEODIS has launched a strategy to adapt to the effects of climate change. To communicate on its climate policy, GEODIS has adopted the recommendations issued by the Task Force for Climate-related Financial Disclosures (TCFD), structuring its information around four thematic areas: governance, strategy, risk management, and metrics and targets. 3.1.1 Governance The climate challenge is addressed at the highest level of the Group and is fully integrated into the CSR governance, described in section 2.4 of this document. Climate-related issues are discussed at least quarterly at Management Board meetings. Climate risks are fully integrated into the Group’s risk management, which follows that of the shareholder, SNCF(4). Issues, progress and commitments are presented to the Supervisory Board and at meetings of the Audit and Risk Committee. The Executive Vice President for Sustainability sits on the Group’s Management Board. GEODIS’s CSR policy and commitments, including on climate change, are shared and approved by the Management Board. In 2022, the Management Board confirmed the Group’s commitment to defining SBT objectives and a roadmap for achieving them. The head of the Climate and Environment programs reports to the Executive Vice President for Sustainability. She manages all actions forming part of the Group’s climate plan, in close collaboration with the lines of business and the regions, all of which have a team responsible for climate-related issues. She organizes the consolidation of climate-related information and metrics. Since 2022, the annual variable compensation of the members of the Management Board and the Group’s Top Executives, 176 senior executives in all, has incorporated a CSR component which includes a climate metric accounting for 9% of the total variable compensation. 3.1.2 Strategy The climate challenge represents both risks and opportunities for GEODIS’s activity. In the light of this, the Group is developing a resilient response strategy that will enable it to support its customers in their logistics needs in both the short and long term. Powerful challenges relating to the climate… The freight transportation sector currently relies heavily on fossil fuels. To contribute to achieving a carbon-neutral economy by 2050, the sector will have to undergo a profound technological transformation, driven by innovation in low-carbon alternative fuels and electric and hydrogen technologies. The availability of these new technologies for the different modes of transport, their competitive price, the capacity of the players to invest, the presence of refueling infrastructures as well as access to lowcarbon energy sources will determine the speed at which the sector can undergo a transformation. So an entire ecosystem must make the transition around common plans and roadmaps, with short-, medium- and long-term timeframes. In this spirit, GEODIS is adopting a voluntary, collaborative and innovative approach to the transformation of its fleet of vehicles, and it favors partners with a similar approach for the transportation that the Group subcontracts. The regions and countries in which GEODIS operates are introducing more stringent regulations on greenhouse gas emissions at a fast pace. This is the case in Europe, where Low Emission Zones (LEZs) have been adopted in many cities, making city centers partially inaccessible to certain vehicles and thus requiring a shift to new low-emission vehicles to maintain the activity of last-mile deliveries. In coming years, new or stricter regulations are likely to impact the Group’s economic performance or its access to certain markets, whether through the revision of taxation systems (on energy or emissions) or because of the banning of certain technologies entailing more costly investments or a timetable that is incompatible with the traditional service life of existing fleets. (3) https://climate.mit.edu/explainers/freight-transportation (4) https://www.sncf.com/sites/default/files/finance_report/rapport-financier-annuel-2022-groupe-sncf.pdf 37 2022 ACTIVITY AND SUSTAINABILITY REPORT EDITORIAL > PROFILE AND AMBITION > CSR POLICY > SOCIAL > ETHICS > TABLE OF INDICATORS > ENVIRONMENT
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