2024 ESG HIGHLIGHTS
AND OUR STRATEGY FOR SUSTAINABILITY
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The ESG Highlights document outlines CAREL's approach to sustainability, integrating governance, long-term strategies, and the Group'smainmeasurabletargets. It providesan in-depth look at initiatives for environmental protection, the fight against climate change, and the responsible management of resources. Particular attention is devoted to people, inclusion, rights, safety, and training. Ethics, integrity, corporate culture, and the supply chain are also addressed, defining a structured path of corporate responsibility.
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Dear Stakeholders,
It is with enormous pride and sincere gratitude that I wish to share with you CAREL's ESG Highlights for 2024. This document is not only a testament to our accomplishments, but also the story of a shared journey: a journey combining innovation, responsibility, and sustainable growth, with an eye to the future.
For us, 2024 was a decisive year: we renewed our Driven by the Future strategy, with the definition of the new 2025-2028 Sustainability Plan that will guide us with clear and measurable objectives on the environment, people, and governance. This is accompanied by our Climate Transition Plan, which defines our concrete commitments to reducing emissions, in line with the targets validated by the Science Based Targets initiative (SBTi), thus contributing to global efforts to combat climate change.
In terms of the environment, the milestones we achieved in 2024 speak for themselves: we reduced Scope 1 and Scope 2 emissions by 8% and 44% respectively compared to the previous year, and increased the share of renewable energy consumed to 57%. We also expanded our Life Cycle Assessment projects, strengthening our commitment to the circular economy with special attention to eco-design principles, sustainable packaging, and responsible water management.
However, for CAREL sustainability means above all attention to people. In 2024, we made important advances in promoting diversity, inclusion, and gender equality: from UNI/PdR 125:2022 certification to new policies to support parenting and overcome inequality. We invested more than 5,000 hours of training on ESG issues, as we believe that collective growth stems from continuous training and the development of talent, helping to create a fair, safe, and stimulating workplace.
Governance has played a key role in this fruitful journey, with close cooperation between the Sustainability Executive Director, the Control, Risk and Sustainability Committee and the ESG Team consolidating the processes that ensure consistency between objectives, actions and results, in line with the expectations of our stakeholders.
In 2024 we confirmed that sustainability is not a footnote in our story, but rather at the heart of our ability to innovate and compete globally. Every step forward and every goal achieved is the result of the daily commitment of our corporate community, turning values into concrete actions.
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The ESG Highlights for 2024 is therefore both a report and an invitation to look to the future together, with responsibility for the environment, attention to people, and integrity in our behaviour.
It is with this spirit that we renew our commitment to building lasting value for CAREL, for our stakeholders, and for future generations. .
Sustainability Executive Director
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Carlotta Rossi Luciani