4.1 Climate action Beyond our various measures and activities, Siemens also participates in committees and associations where it advo- cates for more changes in climate policy frameworks in order to support the following activities: → Accelerating decarbonization in all sectors through efficient energy use and electrification and by increasing the share of energy from renewable sources → Redesigning energy markets to ensure that adequate investments are made in sustainable, secure, and efficient energy systems → Driving the development of local energy production from renewable sources, local energy markets, and sector coupling → Accelerating the digitalization of the energy system to enable the integration of renewable energies, continuous grid optimization, and the integration of prosumers, while guaranteeing grid stability → Implementing a CO e price that enables actual emissions- 2 related costs to be integrated into business decision- making. The price should be high enough to trigger a shift to low-carbon technologies in line with the pledges made in the Paris Agreement (COP 21). SIEMENS SUSTAINABILITY REPORT 2023 64