June 30 - July 1, 2025
Michelin's All Sustainable approach: A day-to-day commitment and a compass for the future
Balance between mutually beneficial and interdependent dimensions:
No
development
project can
be
envisioned without considering all its economic, social and environmental impacts. Similarly, no single player can meet the collective challenges facing the world. Michelin's All Sustainable approach illustrates this dual necessity.
Florent Menegaux
CEO Michelin & President of the UN Global Compact Network France
A vision that encompasses a large scope of topics
Fair Wage
Social Protection
Governance
Health and safety of workers
Human rights
in the value chain
Compliance
Climate change and adaptation
Business ethics
Circularity
Product usage: CO2 and TRWP
Water
Deforestation & biodiversity
ESG Roadshow, June 30-July 1, 2025
4 domains where Michelin pioneers towards a more sustainable world2022
1st inflatable sail
1992
1st low emission tire
Multi-life tire specialist for over a century
Towards a fully circular tire vision
LEAD INDUSTRY
s SOCIETY TRANSFO
Unique career opportunities
Value chain
Hi-tech protection
for firemen
Highest standards of products safety
ESG Roadshow, June 30-July 1, 2025
Sustainability report and double materiality
Based on the« Double Materiality » analysis, conducted with the support of Axa Climate 9/2023 - 5/2024
Aims at ensuring that the most material sustainability topics are identified and reported on (in 2024, 18 stakes based on 26 impacts, risks & opportunities)
« Double Materiality » analysis audited par PwC/Deloitte 7/2024
ESG Roadshow, June 30-July 1, 2025
Michelin approach fully endorsed by external auditors
No nonconformity - Robust documentation
Internal & external consultation (o/w Stakeholders Committee) Reinforced opposability of double materiality
Formalized value chain beyond rank 1 suppliers Upstream coverage
Impacts, risks, opportunities assessment compliant with ESRS 1 & 2
ESG Roadshow, June 30-July 1, 2025
Matching the sustainability leadership quadrants with material ESRSClimate change mitigation (Scope 1&2)
Zero emission mobility E1
End-of-life management
E2
E5 Renewable and recycled materials
Water consumption E3
S4
Efficiency, quality and safety of products and services
Air and water pollution Wear particles (TRWP)
S1
Talent attraction and retention
LEAD INDUSTRY
s SOCIETY TRANSFO
Human rights
S2 Employee heathin the value chain
S4
Business ethics G1
S1 and safety
Water consumption E3
Efficiency, quality and safety of products and services
E4
Deforestation
Habitat degradation
ESG Roadshow, June 30-July 1, 2025
Ambitions for 2030 and 2024 results
TCIR : Total Case Incident Rate; in 2025, the TCIR to be replaced by the Total Recordable Incident Rate (number of incident per 1,000,000 hours). TRIR 2024 stood at 5.01
IMDI : Inclusion & Diversity Management Index
NPS: Net Promoter Score
ESG Roadshow, June 30-July 1, 2025
Ambitions for 2030 and 2024 results
June
2024
The 2030 target was validated by SBTi in June 2024, aligned with 1,5°C global warning scenario; it includes recent acquisitions.
i-MEP: industrial - Michelin Environmental Performance
ESG Roadshow, June 30-July 1, 2025
2030 environmental ambition: On track to reach net zero emissions in 2050 Group's ability to have an influence
high limited
Manufac-Turing*
-37%
CO2emissions vs. 2019
-47%
Net Zero
Logistics*
-28% CO2 emissions -90% CO2 emissions
Upstream energy*
vs. 2019
vs. 2019
Raw material Suppliers*
Use of products
+4.3% in products energy efficiency vs. 2020
Reduce rolling resistance across passenger car and truck & bus product plans
+10% Contribute to customers' net zero emissions
* Targets validated by SBTi in June 2024
Results Ambitions
ESG Roadshow, June 30-July 1, 2025
Sharp reduction in the environmental footprint of our operations, on track to reach 2030 target
Environmental footprint of our sites
(MEF vs. 2005 until 2019, i-MEP since 2019 - ISO14001- certified)
100
MEF (1)
//
(2)
Water withdrawal x water stress
Generated waste
Organic solvent use
Energy use
CO2emissions
2005 2019
Michelin Environmental Footprint;
2024
2030
industrial-Michelin Environmental Performance; see detailed definition p.26 of the 2024 Universal Registration Document
ESG Roadshow, June 30-July 1, 2025
Recognized leadership in non-financial performance
Major ratings
(as of June 30, 2025)
Michelin Ratings
Low Risk
11.6
AAACLIMATE CHANGE
« LEADERSHIP »
B
A -
WATER SECURITY
« MANAGEMENT »
73 / 100 B-Prime
79 / 100Gold
ESG Roadshow, June 30-July 1, 2025
On the path to full product circularity with 40% renewable or recycled materials by 2030, up to 100% by 2050
NATURAL RUBBER
SYNTHETIC RUBBER
PLASTIFIERS / RESINS
FILLERS
(1)
(2)
(1)
METALS
TEXTILES
OTHER
…
European project sponsored by Horizon 2020; project number: 82068
Carried out with the support of ADEME
ESG Roadshow, June 30-July 1, 2025
Michelin: First manufacturer to design a road-homologated tire with 58% renewable or recycled materials
On the way to our "100% Renewable or Recycled materials by 2050" goal:
new tires with breakthrough technologies
Carbon black recycled from end-of-life tires
Natural rubber
Bio-based silica from rice husks
Steel incorporating recycled scrap
metal
Steel incorporating recycled scrap metal
Carbon black recycled from end-of-life tires
Natural rubber
Sustainable
textile fibers
Bio-based oils and resins
Bio-based silica from rice husks
Size: 275/70 R22.5 152/149
Size: 235/55R19 105W
ESG Roadshow, June 30-July 1, 2025
TRWP: Michelin driving innovation and advancing knowledge in the tire industry
Scientific studies to measure the environmental impact of TRWP(1)
TRWP
AIR WATER
Studies confirm that TRWP account for less than 1% of particulate matter pollution (PM10)
Studies suggest that most TRWP do not reach estuaries
5 x 10-2mm
Very different in density and composition than usual microplastics
2023
Established Dec 2023
Joint laboratory with CNRS (French National Center for Scientific Research) and University of Clermont Auvergne
Mission 1: to understand the biodegradation of wear particles
Mission 2: to develop tools to foster new solutions to make
particles bio-assimilable by the environment.
2024
Methodology to measure particles emitted by tires & road
Developed by Michelin
Validated by scientific reviews
To be used by ETRMA(2) as a reference for its testing
Complementing Michelin's advocacy of EURO 7 regulation
Recognized by 2 awards in 2024
TRWP - Tire & road wear particles - are tiny debris generated by abrasion from a tire's contact with the road surface. This
abrasion is caused by the tire's grip and keeps the tire safely on the road.
European Tyre & Rubber Manufacturers Association
+ Download the ADAC study
Tyre wear particles in the environment (June 2025)
ESG Roadshow, June 30-July 1, 2025
Tires abrasion: A considerable competitive advantage,
without any compromise on safety,
confirmed by the most recent reference study (June 2025)
Particle emissions:
Michelin vs. other premium tiremakers
Particle per vehicle (2)
unit: g/1,000 km/ t of vehicle
(1)New ranges setting the standard
80
70
60 52
50
40
63 65
76 78 71
Vs. average of premium competitors
Primacy 5
average
launched Q1 2025
Cross Climate Sport
launched Q2 2025
Premium competitors
A comparison of all tyre manufacturers represented with at least five tyre models in the tests since 2023 shows that Michelin continues to offer by far the lowest abrasion tyres.
+ Download the ADAC study
Tyre abrasion in the environment, ADAC, June 2025 - 160 sizes tested
Vs
Primacy 4
Vs
Pilot Sport 5
The tyre abrasion methodology is defined in UN Regulation No. 117 Annex 10 "Procedure for determining the abrasion performance of tyres of class C1".
ESG Roadshow, June 30-July 1, 2025
Strong commitment to reduce impact of operations on biodiversity and ecosystems
RESEARCH & DEVELOPMENT
Life Cycle Analysis incl. biodiversity
2024
2025
services:
2030
criteria from best methods of new products
of new ranges marketed
RAW MATERIALS
Natural rubber used by the Group assessed "deforestation-free" (1)
Direct operations and suppliers
Reducing pesticide use in rubber cultivation (4)
(2)
of the volume used
Direct operations and joint ventures vs. 2019
Evaluation of raw material
supplier policies & practices (5)
MANUFACTURING AND RESEARCH FACILITIES
Biodiversity plan adapted to local issues
No phytosanitary products to maintain outdoor spaces
Approach defined
sites sites
sites sites
of suppliers
of sites of sites
(1) Criteria in accordance with the EUDR - European Union Deforestation-free Regulation - or other evidence of deforestation absence | (2) Excluding some Polymer Composite Solutions activities | (3) Excluding changes in the Group's scope | (4) Per hectare ; base year 2019 | (5) Other than natural rubber; impacts identified through Life Cycle Analyses (LCA)
ESG Roadshow, June 30-July 1, 2025
Sustainable natural rubber by Michelin: Driving progress across a complex and fragmented value chain
ACCELERATING SUSTAINABILITY ACROSS THE INDUSTRY BY 2025
NATURAL RUBBER SNAPSHOT
~90% of supply from 1.5M smallholders
(avg. 2 ha each)
Up to 7 intermediaries in Asia
~100 direct suppliers Global footprint:
Brazil, Indonesia, Thailand, West Africa
85,000 ha plantations | 15 plants | 500,000 t/year
Sustainability:
Founding member of GPSNR (Global
Platform for Sustainable Natural Rubber)
Dedicated roadmap focused on zero deforestation, human rights, and farmer empowerment
Geolocation of millions of rubber tree plots with suppliers to meet EU deforestation-free rules by Dec.
30, 2025
EXTENDING ASSESSMENTS OF PRACTICES ACROSS THE VALUE CHAIN: 2024 ACHIEVEMENTS
Direct suppliers: 98% of spend assessed via EcoVadis, 92% rated ESG mature.
Indirect suppliers: RubberWay-Risk® covers 93% of Michelin's supply volume.
IMPLEMENTING IMPACTFUL PROJECTS
Brazil
increasing harvest while preserving the forest (767,600 hectares)* - 550 families in Amazonas
Indonesia
improve skills & livelihood of 6,500 smallholders by 2027 - (with Porsche)
East Kalimantan : training 2,000 farmers to improve their income by 2025
* With WWF
** As part of the Global Platform for Sustainable Natural Rubber (GPSNR) - in cooperation with Group Renault
Sri Lanka
improving skills & sustainability performance of 6,000 smallholders by 2025, impacting ~30,000 people
Thailand
helping 1,000 farmers diversify their income with agroforestry by 2025**
West Africa (with joint-venture)
~90,000 farmers trained on good agricultural practices per year
ESG Roadshow, June 30-July 1, 2025
Externalities: Close to 30% reduction in 5 years
CO2 emissions, VOC(1) emissions and water withdrawals
(€ millions)
+260
590
-130
CO2
Scopes
-36
-16
+25
-6 Perimeter (3)
428
330
1 & 2
CO2
(2) Water Volatile
Increase in the CO2cost per ton from €58 to
€120
Scope 3
organic compounds
2019 2019
restated
2024
Volatil Organic Compounds
Inbound and outbound transportation and distribution of natural rubber, semi-finished products and finished product
As from 2024, Includes Camso, Fenner (except CO2 scope 3), Euromaster and RLU in accordance with CSRD perimeter
ESG Roadshow, June 30-July 1, 2025
Climate strategy structured around transition and adaptation plans, towards net-zero emissions by 2050
STRUCTURED AROUND 2 AXES:
A TRANSITION plan including initiatives to decarbonize direct and indirect activities in the value chain (Scopes 1, 2 & 3) and a strategic plan to support a low-carbon economy
An ADAPTATION plan responding to physical impacts of climate change
BASED ON 3 PRINCIPLES:
Achieve net-zero emissions by 2050 by fulfilling our external emission reduction commitments by 2030,
Identify risks and opportunities based on climate change scenarios,
Transparently disclose information to our external stakeholders.
ESG Roadshow, June 30-July 1, 2025
Fostering social and societal cohesion
through ambitious initiatives
'Living wage' for every Group employee
'Global Living Wage Employer'
certified by Fair Wage Network
Enabling each employee to provide for his/her family's essential needs
For all Group employees since Jan. 2024
Lifelong learning approach
Each year, over €240m dedicated to training
Talent Campus launched in 2022, with 1,000 teaching contributors
55,000 online modules, available 24 hours a day
Michelin One Care Program, a universal social protection floor
Provide time to welcome a new child
Family protection in case of employee's death
Ensuring employees and their families can
access a health program
For all Group employees since Jan.2025
ESG Roadshow, June 30-July 1, 2025
Diversity, Equity, Inclusion:
Further progress in gender balance and acceptance of diversity with a new policy supporting the dynamic
EQUAL OPPORTUNITY
Every employee can develop his/her talents within the company. Michelin pays particular attention to the internal promotion of manufacturing operators.
DISABILITY
Michelin offers career paths to people of all abilities according to its talent development policy.
+1 pt vs. 2023
GENDER BALANCE
Achieve parity among Group executives and, by 2030, set the gender balance benchmark in our industry.
MULTI-NATIONAL MANAGEMENT
All our host country nationalities and cultures are represented in all corporate functions in the operating regions and at headquarters, in line with the geographical footprint of each business.
IDENTITY
All D&I(2) aspects (e.g., age, sexual orientation, ethnicity, religion, etc.).
Enable every person to be who they really are and to bring their authentic selves to work.
IMDI Management Index: see definition on p. 25 of the 2024 Universal Registration Document
Diversity and Inclusion
ESG Roadshow, June 30-July 1, 2025
Sustainability report and double materiality
Based on the« Double Materiality » analysis, conducted with the support of Axa Climate 9/2023 - 5/2024
Aims at ensuring that the most material sustainability topics are identified and reported on (in 2024, 18 stakes based on 26 impacts, risks & opportunities)
« Double Materiality » analysis audited par PwC/Deloitte 7/2024
ESG Roadshow, June 30-July 1, 2025
Matching the sustainability leadership quadrants with material ESRSClimate change mitigation (Scope 1&2)
Zero emission mobility E1
End-of-life management
E2
E5 Renewable and recycled materials
Water consumption E3
S4
Efficiency, quality and safety of products and services
Air and water pollution Wear particles (TRWP)
S1
Talent attraction and retention
LEAD
INDUSTRY
s SOCIETY TRANSFO
Human rights
S2 Employee heathin the value chain
S4
Business ethics G1
S1 and safety
Water consumption E3
Efficiency, quality and safety of products and services
E4
Deforestation
Habitat degradation
ESG Roadshow, June 30-July 1, 2025
In response to the challenges posed by climate change, resources depletion and the loss of biodiversity,
Michelin is striving to attenuate as much
as possible the environmental impact of its operations, its value chain
ESG Roadshow, June 30 - July 1, 2025
and its product life cycles
E1
pportunities
mpact
Higher energy performance standards for tires
Rising demand for a wider range of EVs
Fostering a low carbon mobility by:
constantly and diligently improving energy efficiency of products to meet
customers' expectations
offering low-carbon mobility solutions
Mitigation actions embedded in Michelin's business model:
Rolling resistance of tires, a key differentiator
Expanding the line-up of tires for EVs
Michelin as an accelerator of solutions for a low-carbon mobility: Watèa, Tire-as-a-Service, Connected mobility offers
Environmental and Climate Policy, defined in
2020 to express Group's commitment to environmental stewardship
scope 1&2 emissions vs 2019
achieved in 2024 vs 2019
scope 3 emissions vs 2019
(purchased raw materials,
up-and down-stream transportation, purchased energy)
mpact
Contributing to climate change through direct and indirect GHG emissions
(scope 1,2 & 3)
Transition plan
Decarbonization plan, designed to meet
the 2030 and 2050 targets approved by SBTi in June 2024
achieved in 2024 vs 2019
ESG Roadshow, June 30 - July 1, 2025
E1
isk
Impact of physical climate risks on business activities, assets, employees, raw materials, delays and logistic costs
Physical Climate Risks Adaptation Policy issued in 2024, dedicating initiatives and resources to proactively manage climate hazards and foster resilience, through a structured roadmap to 2030
Assess the climate risk exposure of all Group's sites and engage suppliers to assess their own exposure and vulnerability
Metrics and targets under construction
ESG Roadshow, June 30 - July 1, 2025
E2
isk
Regulations could lead to stricter tires abrasion thresholds to reduce particles and substances
mpact
mpact
mpact
Some studies suggest that tire road and wear particles (TRWP) could be present in the environment
Used water rejection Substances of concern (SOC) / of
very high concern (SVHC)
Air pollution through volatile organic components emissions
Michelin undisputed leader in tire abrasion (ADAC 2025)
Leading the industry - notably through the TIP and various labs - to constantly improve scientific knowledge about TRWP
Measurement of water pollutants considered material implemented in 2024
Central Group policy to anticipate, assess, audit, and substitute whenever possible with no compromise on the product performance, in particular safety
Deployment of good practices and technologies "zero VOC" through substitution products
TRWP target and metrics under construction
VOC emissions in 2024 vs 2023
vs 2020
reported in ESRS - E5 - Circularity
ESG Roadshow, June 30 - July 1, 2025
E3
Group Environmental Policy specifically affirms the 2050 water objective that Michelin aims to have no impact on water availability in local communities.
mpact
Climate change and human water use are disrupting the water cycle and can contribute to depletion of local water resources
Prioritization of levers led by the dedicated Group Water Program: Avoid-Reduce-Recycle-Renew, eg:
Eliminating water leaks
Reducing steam consumption
Reducing evaporation
Using water-saving systems
Raising people's awareness both in manufacturing and tertiary sites
In 2030 vs 2019
2024 vs 2023
Increasing attention to water matters in upstream value chain, through risk mapping and suppliers' assessments, including on site audits.
* Weighed with each site's water-stress coefficient
ESG Roadshow, June 30 - July 1, 2025
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Compagnie Générale des établissements Michelin SA published this content on June 30, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on June 30, 2025 at 06:43 UTC.
