Groupe La Poste // CSR REPORT 2022

Improving climate resilience 5 WORKING TO ACCELERATE ENVIRONMENTAL TRANSITION FOR ALL ■

Emissions absorbed or captured and GHG mitigation projects financed by carbon credits The sequestration trajectory (1) aims, as part of the management of the group’s carbon offsetting project portfolios, to increase the share of reduction projects in favour of sequestration projects by 2030. Since 2012, La Poste Groupe has stood out by offsetting the residual GHG emissions linked to the activities of GeoPost/ DPDgroup and the Services-Mail-Parcels business unit and, since 2019, as the leading 100% carbon-neutral (2) postal operator. La Poste Groupe wants to be exemplary in terms of carbon neutrality. Residual Scope 1, 2 and 3 emissions are offset by injecting their equivalent, in €/tGHG, into emission reduction and carbon sequestration projects. The offsetting approach to achieve carbon neutrality is ensured by the financing of offsetting projects carried out in third countries, mainly under development. The entire group purchases carbon credits recognised by the most demanding standards (Gold standards, VCS and UNFCCC) on the voluntary market. For 2022, these credits will have offset the 2.39 million tCO 2 eq issued by its activities in Scopes 1, 2 and 3 on subcontracting in transport and deliveries.

The projects supported by the group’s business units benefit disadvantaged populations and the environment on four continents. This involves, for example, preserving Amazon biodiversity in Peru, through sustainable forest management, distributing improved stoves in Cambodia to reduce the use of wood, or building wind turbines in India or biogas production capacity in Brazil. In addition to its commitment to neutrality, La Poste Groupe also participates in carbon offsetting in France through its commitment to CDC Biodiversité’s Nature 2050 or its own “Climat + Territoires” programme. Launched in 2015 by the Services-Mail-Parcels, Network and La Banque Postale business units, this programme aims to preserve natural ecosystems and protect biodiversity in France while supporting the development of the local economy. For example, by supporting timber sectors or by structuring a network of farmers with more sustainable practices. The first six forestry projects financed by La Poste made it possible to build the forestry standards and methods that constitute the “Low Carbon Label”. Currently, the program has supported the 42 Projects throughout the country, 22 of which are labeled low carbon, the carbon offset standard in France. Internal Carbon Fund and internal carbon price In order to accelerate the decarbonisation of its activities, the Services-Mail-Parcels, GeoPost, Consumer and Digital Services and La Banque Postale business units have set up an innovative system of internal carbon funds making it possible to identify local internal decarbonisation projects to be co-financed by a local budget and a secure national fund In 2022, La Poste Groupe launched an experimental approach to analyse the principles of a CO 2 financial business plan. The challenge is not to include an internal carbon price systematically in the internal decision-making and management systems, but to rely on this approach, so that this notion of a decarbonisation financial business plan influences investment and acquisition choices.

The offsetting is achieved in two ways:

■ in partnership with EcoAct or CO 2 logic (Southpole), which use group-approved procedures to select projects capable of generating carbon credits in the voluntary carbon market; ■ through a contribution to the Livelihoods climate solidarity fund.

(1) The sequestration projects aim to create carbon sinks in order to capture GHG in the atmosphere through natural solutions (reforestation, agroforestry, mangroves, etc.). (2) The definition of carbon neutrality used is that of the IPCC in “Climate Change 2021: The Physical Science Basis” (August 2021): Condition in which the human CO 2 emissions associated with a subject are balanced by the human CO 2 removals. The subject can be an entity such as a country, organisation, district or product, or an activity such as a department or event.

CSR Report 2022/ LA POSTE GROUPE 87