3. ENVIRONMENT Locked-in GHG emissions through 2030 Locked-in GHG emissions are those from vehicles and buildings owned or operated in 2024 and which will continue to emit direct and indirect energy-related emissions through 2030. The total of locked-in greenhouse gas emissions through 2030, taking into account the energy consumption of vehicles and buildings (electricity and gas), is estimated at 52,352 tCO2e. Financial effects The decarbonization of transport and logistics activities requires improvements in energy effi ciency, which can generate fi nancial gains. However, as GEODIS owns only 10% of the buildings in which it operates, and since logistics contracts are inherently short- to medium-term, investment in energy effi ciency does not always entail fi nancial gains. As far as the vehicle fl eet is concerned, investments in the latest generation of telematics and fuel consumption monitoring tools have helped reduce fuel consumption and focus support and training for drivers more effectively. In addition, the energy transition of the fl eet represents a major fi nancial challenge. By 2030, the Total Cost of Ownership (TCO) of electric trucks should have converged with that of combustion trucks. However, the cost of acquisition of an electric truck in 2024 was still 2.5 times higher than that of a combustion equivalent, not counting investments in charging infrastructure and a range that is still limited to around 300 km. The main source of savings is electricity, but distances covered daily are still too low. The TCO gap therefore still stands at around 25% (excluding subsidies). This gap could be bridged by a decrease in the TCO of electric trucks with technological advancement and scale effect and an increase in the TCO of combustion trucks, with the introduction of the carbon tax (ETS 2) and the future EURO 7 standard starting in 2027. GEODIS now systematically considers environmental impacts in investment committees, more particularly the decarbonization trajectory for its activities. Some of our activities have already forecast ahead to 2030, in order to anticipate the investments required for the energy transition of the fl eet in France and Europe, whether for vehicles or charging infrastructure. 3.1.5 Energy and the energy mix Issues and impacts GEODIS owns approximately 4,700 trucks, the vast majority of which operate in Europe. This fl eet represents the Group’s largest item of energy consumption, and remains reliant on fossil fuels, despite the development of electrifi cation and the use of biofuels. Reducing fuel consumption and making the fl eet more energy-effi cient are major challenges for the road transport sector. The energy transition requires an integrated approach, addressing economic aspects (investment and TCO), operational aspects (adaptation to new operating methods), technological aspects (availability of vehicles and access to charging infrastructure), social aspects (driver buyin and training) and environmental aspects (GHG emissions and pollutants). GEODIS operates 1,080 sites in its four regions and four lines of business, in France and internationally. These sites amount to 11 million square meters of warehouses and operating premises. The Group owns about 10% of these sites. Energy effi ciency initiatives are carried out in conjunction with the Group’s landlords and customers. The Group’s assets do not have a uniform level of energy performance. Regulatory requirements and energy costs with a view to encouraging reduced consumption vary considerably from one region to another. In the United States, for example, where the Group operates 5.3 million square meters, energy consumption at these sites is on average 50% higher per square meter than in France. Nevertheless, the implementation of both global and local policies and action plans to improve control over energy consumption at the Group’s sites is helping to reduce the impact of the Group’s activities on global warming. Since 2022, GEODIS has also been operating a cargo plane to transport goods for customers. Its consumption in 2024 amounted to 30.5 million liters of kerosene. Action plans Over 60% of the Group’s 2030 target for the reduction of CO2 emissions for scopes 1 and 2 can be achieved through energy effi ciency initiatives in warehouses, transport hubs and offi ces, and by using low-carbon electricity. For its fl eet of vehicles, GEODIS is pursuing its actions aimed at reducing fuel consumption and keeping it under control, which is essential for minimizing its environmental impact and costs. Depending on the geographical perimeter, the Group aims to use between 30 and 60% alternative energies in its fl eet, although these targets are reviewed every year in the light of recent technological developments. 50 - 2024 ACTIVITY AND SUSTAINABILITY REPORT
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