4.4 EU taxonomy The EU Taxonomy’s current eligibility rules for reporting on Siemens Mobility enables transportation operators around climate change mitigation and adaption cover the Digital the world to make their trains and infrastructure smart and Industries portfolio to a limited extent only. With the appli- electrified, and contributes to efficient, low-carbon transpor- cation of the four new environmental objectives for fiscal tation. Leveraging the advantages of digitalization, it helps 2024 and amendments to existing objectives, an increased increase sustainable value creation throughout the entire coverage of business activities is expected. lifecycle, improve passenger comfort, deliver 100% system availability, and maximize network capacity. The Smart Infrastructure (SI) portfolio includes a wide range of products, services, solutions, and software for all aspects The Siemens Mobility portfolio is almost fully eligible, of grid management, electrical products, building automation, contributing to climate change mitigation through manufac- fire protection and security, e-mobility charging infrastructure, turing of low-carbon technologies for transportation, and and energy efficiency. It offers smart connections for energy - providing infrastructure for rail transportation and infra systems, buildings, and industries. structure enabling public transport. An important portion of this portfolio is devoted to integrating Siemens Healthineers (SHS) is a global provider of healthcare renewable energy into the power grid, increasing electromo- products, solutions, and services with holistic system com- bility, enhancing energy efficiency in buildings, and making petence. The portfolio serves clinical decision-making and the measurement of infrastructure more transparent using treatment pathways definition – from in vitro and in vivo digital tools and data management solutions. Smart Infra- diagnostics to image-guided therapy and innovative cancer structure contributes to electrification with a broad portfolio treatment. The comprehensive portfolio supports customers of low- and medium-voltage power distribution and electrical along the entire care continuum, from prevention and early installation equipment. The Smart Infrastructure portfolio detection through to diagnosis, treatment, and follow-up supports driving decarbonization, resource efficiency, and care. the people-centricity of energy systems, buildings, and industries by connecting the real and digital worlds. Siemens Healthineers concluded in its analysis of contributing activities, that the current climate-related objectives are not A material portion of the Smart Infrastructure portfolio is applicable to manufacturing of medical products, which is eligible for climate objective-related EU Taxonomy reporting, Siemens Healthineers’ primary activity. Taxonomy-relevant especially energy-efficient equipment for buildings and ser- capital expenditures are for the most part reported under vices for energy performance of buildings. With the addition selected economic activities referring to construction and of more activities for climate change mitigation and for the real estate. With the release of the four new environmental other environmental objectives, we expect an increased objectives, Siemens Healthineers expects an increased coverage of our business activities for fiscal 2024. coverage of its economic activities. Siemens Mobility (SMO) combines all Siemens businesses in Eligibility assessment at Siemens the area of rail passenger and freight transportation. The The purpose of the eligibility assessment is to determine if portfolio includes products and solutions related to rolling Siemens’ business activities fit the description of one of the stock (like trains and locomotives), rail infrastructure (includ- economic activities specified by the EU Taxonomy. If a ing rail automation and electrification), and the service Siemens business activity matches, it is then classified as business, e.g., maintenance and digital services. Its offerings “eligible”. A business activity that is “non-eligible” is not comprise software solutions, like train planning systems, within the scope of the EU Taxonomy reporting. The eligibility Mobility-as-a-Service (Maas), reservation management and assessments were conducted decentrally in the businesses in ticketing, and a turnkey business that bundles consulting, an interdisciplinary manner involving experts, for instance planning, financing, constructing, servicing, and operating from technical, strategy, or sustainability departments. of complete mobility systems. SIEMENS SUSTAINABILITY REPORT 2023 77