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Introduction Climate Change Resources Smarter Chemistry Engagement and Advocacy Appendix 2023 Environmental Progress Report 27 Carbon removal Our 2030 Climate Roadmap aims to Investing in nature Carbon removal reduce our emissions by 75 percent The earth’s trees, plants, and soils provide some of the projects to address compared with 2015 levels, as greatest capabilities to remove and store carbon from nonelectricity well as scale up carbon removal the atmosphere. Carbon credits provide an opportunity emissions — up strategies to address the remaining to invest in these solutions, but carbon markets haven’t to 25 percent of emissions that we can’t yet avoid. yet scaled to remove the carbon needed to limit global 2015 emissions warming to 1.5° C. That’s why we’re expanding nature- (all scopes) We’re exploring a range of carbon based investments to support our goal of achieving removal solutions to do so, which is carbon neutrality across our full product life cycle consistent with the Intergovernmental by 2030. Panel on Climate Change’s position In 2021, we partnered with Conservation International that all pathways limiting warming and Goldman Sachs to launch the Restore Fund, which to 1.5° C require carbon removal for has closed over $ 100 m illion in projects that forecast to unavoidable emissions. 26 remove over one million metric tons of carbon starting in 2025. This fund is unique because it aims to change Carbon removal projects take carbon dioxide out of carbon removal from a cost to a potentially profitable the atmosphere and store it in long-term carbon sinks, investment. By creating a fund that generates both a whether nature-based — like forests, wetlands, and financial return as well as real and measurable carbon grasslands — or geologically, in formations such as saline impact, we aim to drive broader change — encouraging aquifers or other suitable geological sites. In addition to capital investment in carbon removal around the globe. removing carbon, nature-based carbon removal projects also offer important ecological and social benefits, such as preserving biodiversity and enhancing the resilience of ecosystems while often providing economic development opportunities for local communities. Through the first phase of the Restore Fund, we’re working with forestry managers to create sustainably managed forests that are optimized for both carbon and wood production, creating revenue from timber and generating high-quality carbon credits. Photo credit: Arbaro Advisors.

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