Delivering on the European Green Deal A Private Sector Perspective 2025

3. For each analysed company, emissions aligned with SBTi reduction targets were calculated based on values of SBTi targets applied to base year emissions sourced from ESG Book (after data processing). Linear regression was applied to populate annual data for the years in between SBTi target years. Aggregated targets for all analysed companies are a sum of individual regressions. Types of company samples TABLE 9 Types of company samples No Sample name Sample description 1. Targets sample Sample consisting of companies that have available data on at least one of the analysed targets (emission, energy efficiency, renewable energy, waste, water resource management, supply chain) in four consecutive years between 2019 and 2022. 2. Emission sample Sample consisting of companies that have available data (after processing) on Scope 1, Scope 2 and Scope 3 between 2019 and 2023. 3. Energy sample Sample consisting of companies that have available data (after processing) on total energy consumption and renewable energy consumption between 2019 and 2023. 4. Waste sample Sample consisting of companies that have available data (after processing) on waste generation and percentage of waste recycled between 2019 and 2023. 5. Water withdrawal sample Sample consisting of companies that have available data (after processing) on water withdrawals between 2019 and 2023. 6. Water consumption sample Sample consisting of companies that have available data (after processing) on water consumption between 2019 and 2023. 7. Emission forecast sample Sample consisting of manufacturing sector companies with available SBTi targets and complete Scope 1 and Scope 2 emission data between 2019 and 2023 after processing of ESG Book data. 8. Financial sample Sample consisting of companies that have available data on cost of borrowing in all consecutive years between 2019 and 2023. Only companies with cost of borrowing greater than 0% and lower than 25% are included in the sample. Analysis details for utilization of public funding programmes in the EU –The available budget for the programmes reported by CINEA (i.e. programmes 1-6) refers to the budget with climate contribution; for the rest of the programmes (i.e. programmes 7 – 22), it refers to the overall budget. –CINEA focuses on climate-related objectives, therefore the comparison is made directly to the target climate contribution of the budget. –The Financial Transparency System provides information on funds under direct and indirect management. Budget spend seems to also be recorded for the overall programme, not only climate-related initiatives; therefore, the comparison of the budget spent is based on the programmes’ total budgets. Delivering on the European Green Deal: A Private Sector Perspective 32