Shifting the global energy system from its dependency on fossil fuels to reach net-zero carbon emissions by 2050 is one of the greatest challen- ges facing the world. Ardian publicly reaffirmed its commitment to taking de- cisive action on climate change in November 2020, when alongside four other global private investment firms, it co-founded the One Planet Private Equity Funds initiative to support the members of the One Planet Sovereign Wealth Funds (OPSWF). The OPSWF Framework focuses on integrating climate change risks and investing in the smooth transition to a low-carbon economy. In December 2020, Ardian became a supporter of the Task Force on Climate- related Financial Disclosures (TCFD), demonstrating its commitment to build a more resilient financial system through climate-related disclosures. If the world is to meet the key target agreed “Our Sustainability at COP21 in 2015 – to limit global warming to engagement program well below 2°C on pre-industrial averages – establishes ambitious then massive investments in the clean energies roadmaps to support our of the future will be required. In turn, this will portfolio companies to trigger major disruption in the way organiza- reduce carbon emissions, tions operate. manage climate-related risks and opportunities At Ardian, we intend to be a leading player in and set targets to operate the global energy transition. Starting at company in a low-carbon economy.” level,we updated our own carbon footprint — Candice Brenet analysis from the first such exercise in 2016. We are currently designing plans to reduce our company’s emissions, most of which relate to travel, and find the best and most robust contributions to offset those that we cannot immediately remove. Through our Infrastructure team, Ardian is a major investor in the full range of assets and technologies that will enable the global energy transition to take place. We own 7.5GW of renewable generation assets – the equivalent of 7 nuclear reactors – including major renewable energy platforms in Europe and North America spanning wind, solar and biomass production units. 2020 ACTIVITY REPORT 19