Strategy

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As a standalone company since October 2022, Accelleron has sought to make sustainability an integrated part of the business strategy. Our approach ensures that key relevant environmental, social and governance (ESG) concerns are recognized and managed. Accelleron is committed to building a culture in which all employees collaborate on and drive progress in sustainability as an integrated part of our business.

Our sustainability strategy was developed after conducting a materiality assessment in 2022. This assessment included extended interviews with more than 40 internal and external stakeholders. The results enabled us to develop our first materiality matrix.

Our 3P approach

In our sustainability strategy, material topics are represented by three pillars: People, Products & Services and Planet. We call this our 3P approach.

Each of the three pillars represent our measurable sustainability targets:

Topic Health and safety Target Reach Lost Time Injury Frequency Rate (LTIFR) 0.2 by end of 2030. Results in 2024 0.57	Progress against target red
Topic Employee development Target By 2026, every employee to have at least two working days as training per year (16 hours per year). Results in 2024 In 2024, every employee had on average 17 hours of training (excluding our Fuel Injection division).	Progress against target green
Topic Inclusion and diversity. Target Women make up 25% of senior management by end of 2025. Results in 2024 24%	Progress against target green
Topic Local community Target Have at least one project that gives back to the community per year per local unit, starting 2027. Results in 2024 52 projects were completed.	Progress against target green

Topic
Responsible innovation

Target
Portfolio ready for future carbon-neutral fuels like methanol, ammonia, and hydrogen, by 2030, scalable and ready to sell in production.

Results in 2024
We delivered the first products for applications that will run on future carbon-neutral fuels, and we have committed a substantial part of our R&D resources to optimizing our products for use with future carbon- neutral fuels. We took further steps in 2024 and we continue to make progress in qualifying our next generation of low- speed turbochargers, the ACCX300-L series in our Medium & Low Speed division, for use with future carbon-neutral fuels. We have observed an increasing interest from the market for this readiness. The High Speed division has also continued to work on hydrogen combustion. While engines for both hydrogen blending and 100% hydrogen combustion at lower power density are available, the High Speed division has continued its collaboration with engine building customers to develop turbocharged engines that operate with 100% hydrogen, while maintaining an engine power density comparable to natural gas.

Progress against target yellow

Topic
Responsible supply chain

Target
100% of direct material suppliers in high-risk countries audited according to sustainability criteria by end 2028; 80% of direct material suppliers to have business continuity plans including climate risk by 2030.

Results in 2024
9 audits were performed in 2024, encompassing 20% of suppliers in high risk countries. We issued a climate change survey to our suppliers representing 80% of direct material carbon emissions.

Progress against target yellow

Topic
Circular economy

Target
We will continue to promote and execute solutions to support customers in achieving their decarbonization targets, with a focus on our comprehensive portfolio of retrofits/upgrades that help equip existing vessels for the decarbonization and energy transition journey.

Results in 2024
New target. Progress will be reported in the next report.

Progress against target
New target

Topic
Environmental impact of our operations and our products

Target
Reduce our CO2 emissions by 70% (Scope 1 and 2) compared to 2022 levels by 2030. Ambition to reduce our Scope 3 in line with the Paris Agreement, with targets to be set in the SBTi process.

Results in 2024
We reduced our Scope 1 + 2 by about 13% in comparison to 2022 for Accelleron (excl. OMT).

Progress against target yellow

Topic
Environmental impact of our operations

Target
3 % reduction in “bought electricity/revenues” by 2030 vs. 2024.

Results in 2024
In 2024 we conducted an energy assessment of the remaining sites and launched an energy efficiency strategy which defines global efficiency targets. Progress will be reported in the next report.

Progress against target New target

Topic
Environmental impact of our operations

Target
Zero waste to landfill and 90% waste recycling rate for non-hazardous waste by 2030.¹

Results in 2024
In 2024, 29.6 tons of waste were sent to landfill (vs. 55 t in 2023) and 88% of non-hazardous waste was sent for recycling (not including US, Middle East and Africa).

Progress against target yellow

Topic
Environmental impact of our operations

Target
Water efficiency target is: Move from level 1 (single usage of water) in water efficiency to a higher maturity level by end of 2026, within the Service division.²

Results in 2024
We assessed water usage in the service network and defined guidance for improving the main industrial processes that use water. We hierarchized the use of water in 4 maturity levels. We broke water usage down into a four-tier hierarchy. Level 1 is defined as no water reuse, followed by level 2 (water reuse), level 3 (semi-automated water use) and level 4 (fully automated water use).

Progress against target New target

1. Excluding US, Middle East, and Africa.

2. Fuel Injection division and manufacturing sites are excluded from the target as their industrial water usage is based on a closed loop system, which equates to level 2 or higher.

green On trajectory towards the target
yellow Some progress made towards target
red Not aligned with target

These targets have been cascaded down through our organization.

We incentivize our people to focus on the achievement of these targets through bonus schemes. As from 2024, our long-term executive incentive programs include targets linked to scope 1 and scope 2 emissions, but also to some of our scope 3 emissions. Overall, bonus schemes do not only exist for top management but also for any employee subject to our variable salary policy.

As part of our initiatives, we organize sustainability awareness sessions for our management positions in 2024.

UN Sustainable Development Goals

Our targets contribute directly to the achievement of seven of the United Nations’ Sustainable Development Goals:

Those selected goals are

• SDG 3: Good health and well being

• SDG 4: Quality education

• SDG 5: Gender equality

• SDG 7: Affordable and clean energy

• SDG 9: Industry, innovation and infrastructure

• SDG 12: Responsible consumption and production

• SDG 13: Climate action

Annual Report 2024

Sustainability at the core

People at Accelleron work together to strengthen social and environmental impacts. Sustainability principles play an integral part in the company’s business.

Read our annual report