Good afternoon everyone, thank you for being there. I'm very delighted to host this ESG investor event in La Maison Sanofi today. I'm Sandrine Bouttier-Stref, I'm the Global Head of Corporate Social Responsibility Sustainability at Sanofi, and so I will, with my colleagues of ESG team and investor relations, we are happy to welcome you. So today we have a dense agenda, but before starting I would like to share that Sanofi is an AI-powered and R&D-driven company that is committed to deliver and to change the lives of people and deliver compelling growth, and sustainability is fully integrated in this compelling growth. And so in order to create value for the business, create value for the society, the patients, and create value for the environment. So having said that, I would like to enter directly into the event, and so we have a dense agenda today. So starting to present our sustainability strategy, Audrey Derveloy should join. She's in the executive committee right now and she told me that she might face some delay, so I will replace her very, very quickly. So I will speak about our new and refreshed sustainability strategy. After that we will make a deep dive on access to healthcare, which is one important pillar with Christelle Saghbini from GenMed and Jon Fairest from Global Health Unit. After that we will speak about the environmental impact that have business and us on the environment with Annabelle Harreguy and Tarja Stenvall. So we will have a slot for Q&A to discuss about access, should you have any question on access to healthcare but also on environment. We will take time here and 15 minutes I think or 20 minutes to discuss. We will enter into the second phase of this event, speaking about the resilience of healthcare system, how Sanofi is engaged in order to support the healthcare system along the way, with myself and Marta coming from Spain in vaccines. We will have a presentation on taking the lead in inclusion; it is also a very important topic part of our sustainability approach. Then a Q&A session and conclusion to close the meeting. Next is to present the speakers, so we'll have Audrey, maybe myself, and Christelle, so everyone will introduce themselves during the presentation. What is important to note is that we wanted to have not only just an ExCom representative with Audrey, but also speakers coming from the business. It's very important to showcase that and to demonstrate that how far we are going in order to include our strategy, sustainability strategy, in the business, and so we have asked our business representative to speak about sustainability. Next is about the execution on the social impact strategy. As most of you know that we have launched four years ago a new strategy, an updated strategy, a renewed strategy, having a lot of flagships, but fully aligned with the Play to Win strategies that has been launched by Paul Hudson four years ago. The four pillars, aligned with the four pillars of Play to Win, were about affordable access, and so we had three flagships here with the launch of the Global Health Unit, and Jon will speak about the progress made with GHU. We have engaged also a global access plan in our pipeline, and so we are continuing our humanitarian program in order to deliver more than 1,000 vials for patients suffering of rare disease in the world. The second pillar is about innovation for unmet needs, so we are continuing to deliver IPV doses for eradication of polio. Sanofi is a long-term partner of WHO to eradicate polio in the world. So we are continuing to collaborate with UNICEF, with Gavi, and last year we have delivered more than 33 million doses in the world to contribute to polio eradication. We have also engaged three years ago a very big and difficult complex initiative in order to address the childhood cancer, which is a very complicated disease because it particularly is cancer and because it's for children. So we had scrutinized our pipeline and legacy assets in order to identify if there are candidate assets in order to treat children. So hopefully we found two assets and one clinical study started last year with children, which is one of the first clinical trials with children among the pharma. So we have created a lot of partnerships, cooperation with other pharma, with academics, with scientific, and so different associations and organizations fully committed in order to treat children suffering of cancer in the world. We have three assets now that are identified, and so we continue the pathway in order to find the best solution to treat those children. That is a part on access to care where we want to push, and so where we want to have big impact as a pharma company. More globally on environment, we have a program named Planet Care, so we were engaged to reduce our greenhouse gas emissions, Scope 1 and Scope 2, but also Scope 3. And so Annabelle will give you more details, so we are fully on track on our roadmap on the three scopes, and so we are continuing to deliver. And I must say we are quite optimistic for the remaining part of the journey. We have now reached 85% of renewable electricity around the world with a target of 100% by 2030. And so we are continuing also our journey in order to eliminate plastic blister-free vaccines by 2028, and so today we are at 55%, and Annabelle will give you more insight on that topic as well. Last but not least, in and beyond the workplace, 43% of our executives are women, and so we are continuing also to develop our volunteering program in order to engage our Sanofians across the world in programs to have at minimum one volunteering day per year. And so we have now more than 105,000 hours, sorry, of volunteering across the world working with associations fully aligned with the ambitions that we have in terms of sustainability. So clearly, to summarize, we are on track on all, no roadblock in front of us, and so we are very confident to deliver on time. But we've considered that it's not enough. We have started to change the culture within the company. Now we would like to move forward, and so we have decided to make a step beyond in order to move from CSR, having impact on the society and environment, to create value for the company, to create value for the society, and create value for the environment. So it's a broader engagement fully aligned with our strategy, business strategy, and so we are engaging all GBUs, all functions, all countries, and all businesses in one unique ambition. So we had looked at where we can make the difference, how we can deliver a unique value proposition where we can deliver the biggest impact. So we have worked with the business. We have looked at the challenges that the world is facing, and so by the way there are a lot currently. And so we have looked as well as the healthcare system. What are the challenges that the healthcare system are facing? What are the challenges patients are facing in the world? And so which solution, how we can try to act in order to play a care role in order to change the lives of those patients across the world who have not access to care, and by the way, taking care about the planet. So we have engaged this sustainability strategy last year, validated by the executive committee, validated by the board as well, and so we are moving forward in order to deploy, building on the strengths that we have developed in the previous strategy, changing the culture within the company in order to be fully and more integrated in the business, such as integration in the strat plan, for example, which is a good example of integration of sustainability in the business, and our speakers will showcase how they are doing day to day this integration. So to let you know more about this sustainability strategy, I would like first to contextualize why we are looking at this strategy and why we chose this new ambition for the company. The world is facing a triple environmental crisis: pollution, air pollution, water pollution, climate change, of course, with the rise of temperature, the rise of level of the sea, but also extreme weather events. So yesterday it was unfortunately an example in Paris and in France globally, but everywhere in the world. All these triple, so this triple crisis having a harmful impact for the health of population. It's now known, it's obvious, and so the rise of temperature, the air pollution are exacerbating certain diseases. In the world today, yearly, 14 million people are dying primarily because of air pollution, because of rise of temperature, and biodiversity loss. Half of them, 7 million, are dying because of air pollution alone. It's huge. As 3.6 billion people are living in areas very sensitive to climate change and particularly temperature and level of the sea, the forecasts are expected to be higher in terms of deaths in the world. There is an urgent need in order to act, in order to move, not just us as Sanofi, but also to engage an ecosystem in order to act now in order to prevent what will happen, what is in front of us. Those people mostly affected by those diseases and exacerbation of the disease are particularly vulnerable populations. In addition to that, those diseases and those additional patients are putting the healthcare system at risk and under stress. More people are going to the hospital during heat waves, for example, but at the same time, the healthcare system is not prepared all over the world to face this situation. The additional burden of patients is a huge challenge, but at the same time, the local infrastructures, such as hospitals, are not ready in terms of rising of temperature in, for example, energy supply. So there is a vicious circle, if I may say, that we would like to address in order to transform this circle in a virtual circle. So we need to act now, and this is why we have decided to think more about the impact on environment challenges, on health of population, and healthcare system. Then, we have made some studies, we have elaborated some data, scientific data, real-world evidence, which is very, very important in order to inform the scientific community, including R&D at Sanofi, on the link between the environment and the therapeutic area and the disease. So as you can see on the slide, we have three major therapeutic areas that are affected by the environmental challenge. Air pollution is creating additional burden on cardiovascular disease, respiratory disease, and diabetes. The same for seasonal patterns, and extreme temperature also is unfortunately aggravating, exacerbating those diseases. For sure, there is also impact on oncology, rheumatology, dermatology, other therapeutic areas, but we have decided at Sanofi to focus first on cardiovascular, respiratory disease, and diabetes. In addition to that, we have conducted some study, real-world evidence, in order to showcase the influence of socioeconomic factors of population on those diseases because of the environment. And clearly, clearly vulnerable population, and some vulnerable population are particularly affected. So we need to find a solution for those people, but also we need to clarify and to continue to get more data, more evidence, to make the link between the environment that is stressing the metabolism and inflammatory system of people, and so to influence R&D in order to find the best pollution in order to treat those people that will suffer in the future. So this is the challenges that we face. So we have this context, we have this worldwide context, healthcare context, patient context, environmental context, and we feel that we are uniquely positioned in order to address the link between the environment, health of population, and healthcare system. And this is why we have developed this refresh strategy on those three topics. So we have launched what we call AIR, access, environmental impact, and resilience of healthcare system, which is a new program that we have launched. Sorry, yes, there's a decalage. So I didn't mention, but so we are working with R&D, and so what we made after having this evidence regarding the impact on health of population, we had a look on the therapeutic area and our portfolio and pipeline in R&D, and so we have seen that 78% of indications of our pipeline and 70% of indication of our portfolio are targeting diseases that are exacerbating by the environment, which is huge. And this is a complementary information that pushes us in order to raise this new ambition regarding the environmental impact on health of population and healthcare system. So coming back on AIR, this is a strategy that we have decided to launch officially in April this year. The AIR is tackling three main pillars. Very important, it's a combination of all topics interconnected. A is about access. What we are doing there, based on the strength that we have in access to healthcare, sustainable and equitable access to care, not just on medicine, it's a very important difference, we have decided to build a comprehensive care program in order to address this new component of environment and health for vulnerable population. We are working on disease, but also on prevention, diagnosis, education, policy shaping, capability building, and so we are currently working on the program with Specialty Care and Vaccines. We expand our current existing program on diabetes in the world as well, and so Christelle will detail a little bit more where we stand today on respiratory health and diabetes. All of that is informed, we continue, is informed by data, by real evidence that is very important to inform our R&D, to inform the business, to inform also the policymakers that there is a crisis that is coming with the health of population. The I is about the environment, so environmental impact. What we are looking, we are continuing our engagement and carbon neutrality by 2030, but also we tend to reach the net zero by 2045. We are working on sustainable resources use and circularity. We also continue to work, and so we foster sustainability by design, via eco-design of our products, and so to adapt our business to climate and nature-related challenges because we may face some disruption in the future. We work on the resilience of the business on the environmental challenges. Last but not least, the R, resilience of healthcare system, the purpose is to support the healthcare system and different stakeholders in order to reduce their environmental footprint, not just only carbon footprint, but environmental footprint, particularly on the patient journey. There are a lot of topics, priorities, quick wins that we can activate. We will discuss later in the presentation of that topic. Importantly as well, Sanofi is leading an international coalition in order to decarbonize the patient care pathway, gathering stakeholders from hospitals, from patients, from NGOs, and so on, to create a coalition to raise information in the world, and so to make payers, providers, but also governments fully aware that there is an issue in front of us that we need to tackle. I stop here. I try to summarize, but I will let my colleagues enter into more detail in order to concretely introduce you what we are doing, what are our commitments, where we are. I'll give the floor to Christelle and Jon joining on the stage for the next session on access. Thank you, Sandrine, and good afternoon, everybody. I'll start maybe by introducing myself. I'm Christelle Saghbini, and I head Pharma International at Sanofi, and international, so it's the pharma portfolio, in international markets. For us, international markets go from Mexico to Australia by the south, which by definition are also markets that suffer in general from unequal access to healthcare in general, I would say, and to innovation in particular. So really our objective and my team's objective every day is really to try to contribute to reduce health inequalities of access in those markets, and in particular by expanding patient access to our current and future assets, but also try to optimize care management of those patients in need so that we can really drive patient outcomes and better patient outcomes at the end. And this is what I will be focusing also this presentation on, on the sustainable and equitable access to healthcare. So how do we do that? Maybe next slide. And I will start actually by the right, the right part of the slide, because we do have humanitarian help through donation, for example, in crisis or emergencies. But this is not the part that I will focus on today. What we will be talking together with Jon are more on the business approaches that can go from classical business model, where we really realize the full value recognition of our product, to actually more inclusive business models, and going to the right side again, with the objective of really bringing affordable access solutions, but also with partnership with the healthcare system so that we at the same time elevate the standard of care, specifically for vulnerable and underserved populations. Overall, you see what we're trying to do with those approaches, at the same time to drive sustainable patient impact, but also sustainable business impact by really focusing our efforts through actually a very demonstrated and robust data-driven approach that is building on the model also by IQVIA, so that we really identify in each country what are the unmet medical needs, what are the conditions of access, what are the real patient pathway, and how we can partner and contribute to have this better access to patients, but also better care. So by doing so, we will be creating value both, of course, for the patients, for the healthcare systems, and for Sanofi. If we go to next slide, I think Sandrine highlighted in her introduction that environmental challenges are also disproportionately affecting, in particular, the health of vulnerable populations. So if we take examples on respiratory diseases as an example, and we could take the example of COPD, COPD is actually the third leading cause of death globally, but the burden of this disease is also 1.5 times higher in this disadvantaged population. So if we look today at those vulnerable populations and the respiratory diseases, whether actually chronic like COPD or asthma, but also the infectious respiratory disease like RSV and flu, they are today facing three threats. The first one is the worsening of environmental challenges. The second is the health inequalities, and also the lack of the health system readiness. This is why we have decided to focus, because also of the assets that we are proposing, whether in chronic respiratory diseases or in acute respiratory infections, to actually focus also our program as part of the strategy on addressing the needs of those vulnerable populations. So next slide. So this is why we are, as part of the AIR strategy that Sandrine presented, we are also launching this one respiratory access to healthcare program with three priorities in terms of strategic focus. The first one is to drive urgency for the prevention and the treatment of respiratory disease. The second is to close the gaps to access to care for vulnerable patients. And the third one is around strengthening the health system capacity and capability, so really around capability building so that we can improve prevention and also optimal care management. This has not started today. We already have been piloting some of those initiatives over the last years. I would just give on the next slide, please, an example in the U.S. of those programs that we have been piloting, equitable access programs for respiratory conditions. The first one is around driving equity in flu vaccination. The objective was to improve influenza and COVID vaccination rate in underserved communities in the U.S., and by amplifying the trusted voices that are delivering trusted message around the importance of vaccination. You see that throughout the last years, we have in 28 states reached 30,000 and more local health champions together with 100 community pharmacists. In terms of impact, this is leading to actually an improved local vaccine coverage rate by 10% year-over-year. The second example is also around launching together with the Community Health Center Innovation and in partnership with Direct Relief, the Innovation Award, with the objective again of uncovering innovative solutions that will be focused on respiratory and lung health in the vulnerable communities, whether around prevention or whether around optimal care for chronic respiratory diseases in particular or both. Now, if we go to the next slide, access to patient care is not only focused on the respiratory part. We have also a longstanding commitment in diabetes. We have been developing over the year holistic access solutions for diabetes care. The way we're doing this is really through, of course, bringing affordable solutions on our insulin, but not only, because it's not only about the price of the treatment, but it's also about providing a comprehensive patient care pathway improvement that at the end drives better patient outcome. The way we do it is also through partnership on raising education, awareness, diagnosis, training healthcare professionals, but also better patient support programs, also in collaboration with the government of the countries, especially if they have this in their priorities. We have done this in many countries around the world. The latest example that you have here on the comprehensive care programs are around partnerships that we have done in Ghana, Nigeria, and South Africa. You see that we have so far reached 500 HCP trains, so favoring also the decentralization of diabetes care in those countries, and with more than 100,000 patients reached so far. We continue to expand those programs around the world. The second one is actually around Kids and Diabetes in Schools programs that we have been doing for now 13 years in partnership with the International Diabetes Federation and the ISPAD, and where the objective of this program is actually to educate and train children at school, but also their teachers and their parents around how to manage type 1 diabetes and prevent type 2 diabetes. We have been rolling this out in more than 20 countries now. You see the numbers in terms of children we have reached, teachers that were trained. I would say that we have launched in Saudi Arabia four months ago with already 500 million children reached into, 500,000 children reached in just four months. Finally, another example is around the mobile medical units that we have in the rural areas of India and that are also looking at diagnosis of diabetes and cardiovascular diseases. So I think those were just examples of how we are trying to put this access to healthcare in practice around the world. And to cover the last part around the global health unit, I'm going to now hand it over to Jon Fairest, the head of the global health unit. Thank you very much for your attention. Thanks, Christelle. I'm Jon Fairest. I'm the head of Sanofi's Global Health Unit. I've been with the company for quite a long time, over 20 years. It's a real pleasure to be able to run a unit like this now and to see what this fits in the continuum of our purpose around serving patients across the globe. I'm going to have a few slides here. I'll go through a bit of, and then I think we have a Q&A after this, right? The Global Health Unit is a pretty unique business model in the pharma marketplace because it's a not-for-profit social business unit. We are commercial. We sell products. But we also have a small margin in our products that are at very affordable prices that then allow us to invest in the healthcare system with programs. That's the important bit because our target, our KPI, is to reach patients. The sales number is fairly irrelevant. It's the actual patient coverage we get across the 40 countries that are designated. The 40 countries are different than the ones that Christelle operates in. You can see the sequential journey to make sure that we have coverage for patients across the globe. This is really important for our purpose as we move forward. We have treatments to bring to the market, as you can say, under the access brand, under the Impact brand, which I'll come onto in a moment. We do a lot of healthcare capability building because you can have products to put into markets, but if you don't have healthcare capabilities, we don't do prevention, we don't do screening, and we don't do disease management. So this is a crucial part of the pillar we're building. And we have a fund, which is an investment fund, to invest in startups across Africa and Asia that are part of the ecosystem for delivering this pretty complex environment in terms of healthcare infrastructure. And we've been recognized this last year because of access to medicines, called us out as the gold standard in the industry in terms of a global health unit business, which we're very, very proud of. And also we're doing a lot of work with the Bill Gates CEO Roundtable Group on delivering programs, particularly across the African continent this year, around NCDs, because NCDs, which is non-communicable diseases, around diabetes, hypertension, and cancer is our main area of focus. Next slide, please. So this is something that we're particularly keen on. One of the things we wanted to make sure was we had a portfolio of 30 products that really come from the general medicine portfolio around the three disease areas that I've mentioned. Today, we have a number of around 930,000. The official number is actually this week near 1 million patients we've reached now. So we're very proud on this journey that we're getting towards our first major milestone, which is 1 million patients. We have product and access available in 33 of our 40 countries already. We have a dedicated brand here, 159 approvals we've had across the countries, which is rolled out in 18 countries now. I can tell you, every day we're reaching more and more countries. We've sold over nearly 130,000 boxes. It's innovative international market packaging, so it's very eco-friendly. We've done clever things like putting a QR code on this box so that we only have to have one language leaflet, and people can access 42 languages from our QR code. We're trying to use new technology, simple packaging, so it's very environmentally friendly. It's available across each of the markets without much adaptation with the packaging. Next one, please. The second pillar is around what we do to make the healthcare system stronger. This starts with a partnership approach. We have limited resources. Our first point of call is with ministries of health. A ministry of health that has a strategy on delivering better NCD treatment, we can work with them. This is the key cornerstone of what we do. We then use either international or local non-for-profit organizations to help us deliver the training on the ground because these are the experts. These are the people that know how to connect with the government and how to connect with the communities. They will build the capabilities that's needed to reach patients in the future. In the last 3.5 years since we've been in place, we're close to 120 projects. Some are already nearly finishing. Some are just starting. We've managed to upskill in 254 healthcare facilities, over 2,000 beneficiaries in terms of real programs, and 18,000 healthcare professionals and community healthcare workers who are really the cornerstone of treatment in remote areas because this is where the gap is. What we're trying to do is, when we do a project, we learn, we look at the KPIs. Our idea is not to reinvent the wheel every time, but upscale. One of the things that we're looking at today is a project we have in Tanzania at the moment where we're managing to work very closely with a government and an excellent NGO on the ground. This is also supported by work with the Bill & Melinda Gates Foundation now where other companies have joined in order to make it scalable. We've reached over 38 rural healthcare facilities and over 2,000 patients who are being tracked now because they're on long-term treatment for their chronic diseases. Next one. The Impact Investment Fund is something that, again, is fairly unique in the industry. We realize that in the healthcare ecosystem, it is very challenging for entrepreneurs and startup organizations to get started, but even more than that, to get moving and keep going and grow and potentially scale across these difficult healthcare environments. So far, we've invested around $10 million. We have 7 companies that we're working with that we have investment in different shapes and forms. And they're operating across 15 countries. And we've tried to do a measurement, but around 10 million patients have been impacted by the fact that these companies are in place. We do a lot of work that is additional beyond the capital that we put into these organizations. It's an awful word, but sweat equity is the term that we use. And sitting in this room today, I think we all know what sweat feels a little bit like. But sweat equity is where we're doing a lot of technical assistance. We're doing an awful lot of support around supply chain, training, etc. And actually, these companies are telling us that beyond the financial investment, this is actually much more important than anything else they can get from working with companies like ourselves. We're also using this as a program. And Sandrine talked about how do we engage our internal people. We're using our internal people to work directly with these organizations as part of their development, but as part of their societal work to give back in terms of impact. And we're now seeing that our second area of focus now is to move beyond what has been the pharmacy supply chain model. And we're looking at how do we support more digital opportunities as we move forward. Next one. I think that's me. Yeah. So I now have the pleasure to hand over to Annabelle and Tarja, who are going to talk about environmental impact. Thank you very much. Thank you. Welcome. Good afternoon. My name is Annabelle Harreguy. I'm leading global health, safety, and environment for the group. I'm partnering with Tarja today. She will introduce herself later on. So you see that we are always partnering. I think it's function and business, and that's the way to show and to demonstrate as well our ambition, ESG, is really interconnected and integrated into the business today at Sanofi. So environmental impact. I think when Sandrine presented and did the introduction that the link between the health of the planet and the health of the people are increasingly clear and undisputable today. We really mirror, I would say, an environmental crisis with a health crisis. And that's why at Sanofi, working on environmental impact is a must. As a healthcare company, this is something which we consider as a must. So next slide. If we move on, you see that we have the ambition to minimize environmental impact. So we have purpose. We have passion. We have determination to make it happen. And we are really driving changes which are embedded in our sustainability and environmental sustainability strategy in our day-to-day operation all across the value chain. And you will see that in the presentation today. I will focus first on climate change, Net Zero 2045. Then we will look after the limitation of impact on nature, innovation on purpose with eco-design that where Tarja will take the lead next, while, as we say before, adapting our business to complex climate challenge and nature-based, I would say, events that we are all facing today. You mentioned yesterday Paris storm. I mean, we are all being, I would say, facing that. But there are many others happening everywhere in the world today. So next one. So first, climate change. Let's focus on climate change. Ambition is to reduce, and we are really putting a high focus to reduce our GHG emissions all across value chain to our net zero ambition and target by 2045. This trajectory of reduction is quite ambitious. You will see later that we are on track. We are very serious about it. And it's fully embedded and validated by SBTi, Science Based Targets initiative. Our targets are clear. By 2030 versus the baseline of 2019, we would like to reduce by 55% on Scope 1 and 2. Scope 1 and 2 is emissions from our operation and the energy, which is used by our operation, and minus 30%, sorry, on Scope 3. Scope 3 is emissions of the whole value chain toward a net zero 2045, which means a minus 90% reduction at that stage. The proof points and the result today are speaking by themselves. As Sandrine said before, we are on track, and we are quite confident. End of 2024, Scope 1 and 2, -47% achieved already. For Scope 3, end of 2024, -10% achieved already. And Sandrine mentioned another proof point, which were RE100, renewable energy. Already 85% of the plan has been completed. So next. Even if we focus primarily on emission reduction, we know we are conscious that we will still need to reduce and to offset what's left if we want to achieve the Net Zero by 2045. So we are currently starting investing in community-focused carbon offset programs. And we are clear. We are setting up, I would say, clear guiding criteria, which are quite demanding and challenging on our offset project selection. So I will name three of them. High-quality projects aligned with the latest methodology. Second, a reputed certification. We want to have high standard, gold standard, Verra, etc. And as well, delivering co-benefit, which is something which is, I believe, quite ahead of some other companies. So we wanted to deliver co-benefit not only on environment but on health and community as well. And today, so far, we have signed five contracts of offsetting. Those five contracts, and we are also in the pipeline to come, those five contracts signed so far are representing approximately 40% of the total offset objective. We just named two of them, the most recent one, which has been signed in 2025, Nepal, which is an energy-saving biomass cookstove, or India, which is a project, offsetting project about agroforestry. So next. As I told you, climate change, carbon, it's just one of the pillars of our holistic and, I would say, global approach for environmental impact. We want it as well to foster sustainable resources use and circularity. I'm quite proud as well to present to you the achievements we get so far. I will start with waste. Ambition is to optimize and to turn waste into resources. End of 2024, 89% of the waste at Sanofi are reused, recycled, or recovered. We have less than 1% landfill rate. When it's came to water, we consider at Sanofi that water is a valuable local resource. End 2024, minus 22% freshwater withdrawal. Almost 60% of our priority sites are having a water efficiency program. Next, preserve biodiversity. 70% of our sites, next in the same slide, sorry. Biodiversity as a third bubble, I would say. This progress has been as well. 70% of our sites are having a biodiversity management plan. We are as well analyzing the impact and the dependency on biodiversity we have at Sanofi. Last but not least, what we used to call PiE, which is pharmaceuticals in the environment, you see that so far, end of 2024, sorry, 85% of the top 100 selling medicine has been assessed to PiE. As Sandrine said, we are on track. We are serious. We have a serious plan. We are concrete and tangible levers, which are embedded in our operation and strategy plan. Moving from, I would say, impact to adaptation, as we say, we need to make the business as resilient as possible in front of the complex challenges and the nature-related, I would say, challenges we are all facing. So here, we are leveraging, I would say, a prospective modeling approach and regular financial impact assessment. First, we aim to mitigate our dependency to methyl-based products or resources and water resources. Second, we want to solve climate-related disruption in our logistic flows everywhere in the world. Last, we want to protect our facility from a growing natural disaster we can see. And here, we have set clear targets, too. 100% of our sites, which are in areas of stress or water stress, must have, by the end of this year, what we call a CAPA, a corrective and preventive action plan. For logistic hubs exposed to, I would say, natural disaster or weather events, by the end of 2040, 80% of them will have a mitigated plan. And last but not least, for our sites, which can be exposed to natural disaster, and here, we focus on heavy precipitation, by the end of 2040, sorry, they will be covered as well by a concrete and activable mitigation plan. And this is not only what we want to do with adaptation. Next slide. We are preparing today our deforestation-free commitment. And so to anticipate it, we are assessing our impact and dependency on biodiversity in line with the LEAP approach and TNFD recommendation. So we are focusing on high nature-based related resources. And we have already started, and we have ongoing mitigation action started today. I will name a few of them. I will name, for example, geography relocation, substitution, or sourcing certification. So this is something that we are starting. Analyzing is ongoing. We have not committed yet formally, but you see that we have an ambition to assess it through LEAP and TNFD. That's something that is very serious. We want it as well to go for deforestation-free sourcing. We are looking at high nature-based raw material, for example. I can name wood, cattle, or palm oil. So having said that, I will hand over to Tarja. With eco-design approach. Thank you, Annabelle. Good afternoon. My name is Tarja Stenvall. I'm heading our Global Insulins and Established Product Portfolio. Happy to share some of the work we are doing with the Eco-design. It's really been a couple of past years that Eco-design, embedding environmental sustainability into our product design, really to the entire lifecycle of the product, has landed from theory to a real practice and is progressively getting embedded in our way of working, being very systematic, an important part of how we operate. The way we start looking at this in the franchises is that we make sure that we don't get lost. We focus on those areas that matter the most and have the biggest impact. We strive to use assessment tools that are well proven, are comprehensive, to really recognize those opportunities that are the biggest for sustainability. We look at everything from raw materials, from manufacturing, from packaging device, all the way through the usage to the product end-of-life treatment. A few years ago, we as well set ourselves objectives for 2025 and 2030. Where are we then today looking at these objectives? When it comes to new products that we are launching to the market, we said that from 2025 onwards, which is from this year, all products that we bring into the market have already adapted eco-design. This is the case. Looking at the 2030 objective today, already 30% of those products that are seen to be our biggest selling products in 2030 have already adapted eco-design approach. We've done progress, and we think we are well on our way to achieve these goals. Let's take a look at now some of the concrete examples of the work we're doing. We take a look at our insulins, Dupixent, and Altuvio. Insulins, which are the cornerstone of diabetes treatment, they are serving over 600 million patients around the world suffering from this chronic disease. This number is increasing every day. Sanofi, being one of the largest insulin providers a year, is distributing yearly approximately 450 million insulin pens annually. Most of those pens, 90% today, are disposable pens. They're pens like this. It's a demo pen. 450 million pens like this distributed around the world. We think it's a big opportunity to actually reduce our carbon footprint as well as plastic waste. Just to illustrate to you the size of the opportunity, if we take an average patient using basal insulin, they use ±30 reusable pens a year, 30. If you have a sustainable pen, that 30 becomes 1 pen every 2 years. That would mean 450 million pens we're shipping annually could be less than 20 million if all the pens used would be reusable pens. We're tackling this opportunity in a stage-wise approach, already making impact today. We have our AllStar platform for Lantus, sustainable pens. These pens are already available over 30 countries around the world. For Toujeo, our second-generation basal insulin, we have a 2-star platform. We are providing sustainable devices for India for Toujeo. Then importantly, we're working our next-generation sustainable and connected pen. Our objective is to bring this to the market in 2027 and then work with the global rollout. But then beyond the pens, we're also looking at the entire lifecycle of Toujeo. Just recently, eco-claim was issued for Toujeo, demonstrating the impact and progress we made, reduction in carbon footprint by 27%, water use by 11%, and resource use by 18%. Then finally, we're also looking at what can we do for circularity and take-back for recycling. We have a few pilots ongoing in Europe, as well as we are working closely with our industry colleague to look at more of a holistic program for take-back programs. Then briefly on Dupixent and Altuvio. Dupixent, our flagship product, we've implemented a second-generation manufacturing process. This has allowed us to halve our CO2 emissions as well as our water usage. Then a little bit different lens with Altuvio, our latest product for hemophilia A patients. This chart shows that Altuvio has another impact beyond the clinical outcomes. It has an impact for the environment. Since Altuvio requires less administration, just one per week instead of a daily, it reduces by half the CO2 emissions as well as energy use. So a very sustainable solution for healthcare systems as well as patients while providing the same efficacy and safety. So we are very humble when we talk about eco-design. And we realize it is a journey. We are very committed to having this mindset of continuous improvement, embedding it into every day in the business, the work we do. Because we do believe, as you've seen today, that there are no healthy patients without a healthy planet. Thank you. Thank you, Annabelle, Tarja. So I invite Christelle and Jon. Thank you very much. So we enter into our first session of Q&A for 15 minutes, I think. So should you have any questions? So the floor is yours. I think that we have a mic somewhere. Okay, thank you, Thibault. Any question on those sections? I think here, Anita. Can you hear me? Yes. Good afternoon, Florent Cespedes. I'm the pharma analyst at Bernstein Société Générale. I have a few questions on market access. Question on how do you measure that the products really reach the aimed patients? Because sometimes the challenge is not only to provide at an affordable price or free samples to the patients. Maybe a second question, if I may. What is the proportion of your efforts in developing countries on disease awareness beyond just, again, the fact that you provide the products? Thank you. Okay. Thank you for the questions. On the first one, the Impact brand is actually only available in the 40 countries that we work in with our programs. We manage that through our distribution network. We ensure that the products are and the wholesalers that we use and the distributors that we use are very much part of that partnership approach that I talked to you about to ensure that the right patient gets the right product at the right time. So we do a lot of work on the tracing in the supply chain. These products are not available in other markets. That's the first point. It was a question we thought a lot about when we launched the brand. The second piece, we are doing more and more. It's quite difficult to get data in the remote areas. One of the things that we're doing now is we're doing for example, we have a partnership with the International Diabetes Federation where we do online accreditation training. So we can very easily monitor numbers of people who've been made nurses, community healthcare workers on disease awareness and disease management. We're trying to gather as much information as we can. When we work with our partners like the Gates Foundation, we work with people like Save the Children. We also get them to help us monitor the impact in the communities. It's a technically difficult process to grab this, but we're getting better and better at it. We are starting to produce impact reports so we know how many people we're reaching not only in terms of screening of patients and disease awareness, but also treatment as well. Before moving to the next question, I would like to introduce Audrey that joined us just now. Audrey, maybe I'll let you introduce yourself and give a few words. After that, we will tell you a question. Thanks, Sandrine. Good afternoon, everyone. I'm so sorry because I was supposed to do the opening of this event. Unfortunately, I had an emergency to manage. I would like to say that personally, this topic is very close to my heart. Most importantly, I would like to repeat how the ExCom, every member is very committed to move forward regarding that. I know that you have already covered the main achievements. I would like to say a big thank you to the team and congratulate our people because I can tell you that it's on a daily basis that we want to make some progress. This is not finished. We are very excited about the future, what we can do because we never give up. We are not yet, of course, where we would like to be. Much more to do. And we are very, again, excited but committed to make some progress. This is not easy, particularly if we look at the geopolitical environment. And we will continue to adapt. But I'm very confident because, as you have noticed, we have great experts, but we have also our business leaders to support this journey. So it was my main message I wanted to share with you. And I'm sure that the Q&A is a good opportunity to address the questions you could have for us. So thanks for having me. And again, my apologies because I wanted to arrive earlier. Very interesting time for the Q&A. So. Good afternoon, Emmanuelle Chastenet from Amundi. I'm an ESG analyst in the pharma sector. I have a question about pharmaceuticals in the environment. I really appreciate the fact that you have a target of assessing 100% of your portfolio. But I would say the issue probably on a global scale is mainly coming from in terms of volume from products that are already generic. So how do you deal with, as a big pharma company, because generic manufacturers, they can't really assess. They don't have probably the financial capabilities to assess the impact of generic drugs. So as the originator of those drugs that are now generic, how can you, with your peers in the industry, the big pharma, how can you deal with the issue of pharmaceuticals in the environment? So I would say that's a good question. Thank you for that. I would say that we have some association or forum, PSCI, one of them. I don't know if you know PSCI. That's a forum of suppliers that we are gathering with many top pharma, I would say. And we are discussing exactly those types of topics. It's not only, I would say, PiE. Scope 3, I mean, to be honest, that's not easy for the APIs. They don't have the maturity we have. Maybe you're right. They don't have the financial, I mean, focus behind to help. But I think where we need to be collective and responsible, that's what we do. There are a lot of things they can do after, even easier, because we learn a lot. We maybe have some failures sometimes or things that we can improve. So starting first, that's what we are doing with PSCI. We have also some forums of discussion when we share with expertise. We are helping them. We were, for example, 10 days ago with 10 top API suppliers from India, from China, from Turkey, from everywhere in the world. And we had this discussion. Those discussions are what have you faced, big pharma, or what have you seen as a great initiative and winning project to set up a Scope 3, PAI, or whatever. And to be honest, there are a lot of things they are doing where we are even surprised. They are taking this very seriously. And there are very great ideas that they give us, to be honest. So in full humility, I believe that there is a two-way partnership we have to set up now. It's big pharma sharing with them because we are not going to win without them. I mean, to be honest, it's a collective approach. And as well there, learning from those innovative approaches that they are testing today. So we are closely connected, and we are sharing technologies. There is no competition in this field, to be honest. Thank you. Hello, Virgile from the Sustainability Research Team at Bernstein. I have a couple of questions, please. First, to Mr. Fairest. I understand you have a few data, but if you could quantify the size of, let's say, your addressable market, if you look in regards to the 1 million, 2 million by 2030, I mean, let's say today, how big is this market after all? I mean, are you addressing a big chunk of it, or is it just a little part of it? And also maybe what keeps you awake at night to reach those 2 million people? I mean, is it Paul Hudson being not willing enough to spend some more money? Is it supply chain? Anything else? And then maybe, if I might, one more to Mrs. Harreguy. Please, can you explain maybe a bit on CAPA and probably bring a couple of examples? Or maybe you want to address that afterwards with the resilience program? So you get some time to think about your answer, which is helpful. No, if you take the 40 countries that we cover today, the population is around 650 million people that have little access to any healthcare or none, in some cases. We're managing to work in 33 countries now. So proportionally, it's not so easy to give you the exact population. And in our 40 countries, we have some countries that really are terribly difficult to do anything: wars, political situations, etc. The targets we've set ourselves, which actually were agreed with Paul, Paul Hudson, because Paul is very much you mentioned Paul. Paul is really behind all of this. And one of the things I would say to you from an industry perspective is your CEO has to really want this. Your executive committee, as Audrey has said, have to really be the leaders to help you do this because then it comes through the organization. Your organization mobilizes behind it. To get to the 1 million patients that I've mentioned to you already, the amount of patients to be screened or to have been touched is huge compared to that. When we take a 1 million patients, that's someone who has been screened, has been identified with one of these NCDs, and is on a sustainable adherence plan of between 3 and 6 months already. So we're trying to measure where we know that we are making the difference. That can be carried forward as a model. We are into prevention as well, by the way. It's not just about that because I think the first question asked about education is really important. We're trying to prevent and educate as much as we are as to manage diseases. So that's it. But I mean, it's an endless size of population, 680 million, 650 million, sorry. The reason I mention partnerships so strongly is we can't do this on our own. You cannot cover that amount of population as one company on your own. So the partnership model with the governments and with the NGOs is crucial for the delivery. And that's why we can all come together. And hopefully, that's how we measure it going forward. I hope that's probably answered your question. Was there a second one? What's the next? Oh, what keeps me awake at night? Well, the heat the last few nights. No, I think it's the sustainability piece. For when we do programs. And how do we put a lot of effort in. We want to make a big difference. Everything we do, we want to be sustainable afterwards because we want to make sure that when we make an impact, we measure an impact. We can ensure that that becomes the norm in the way people operate. So get that sustainability piece when we do projects is the bit that I'm always concerned about. So I will take Virgile with your question on CAPA. So I think he's referring to what we talk about: water, waste, energy, etc. So behind, we are, I think, 7 on the stage. You can imagine, as Audrey says, there is 100 of operational people behind us working on that. And the way we have decided to set up is that we have a community of practice. So if I took, for example, energy, we have a full program on energy efficiency roadmap the same way as we are doing with the water efficiency program, okay? And the way we do is that we are first putting digitalization in and mapping what we are using because you cannot improve what we are incapable to measure. So the first thing was to put sensors everywhere in our machine: sensors of energy, sensors of water, mapping, really deep dive and deep mapping of what we are using. And the first thing was to say, what can we save? First, frugality was, I would say, the first pragmatic approach, okay? It's not enough. And then we look at what we can save. So there is a topic on process development. And that's linked to eco-design. Everything is really intricate, okay? Process development, what you can save as water. And you see the second generation, halving carbon and halving even more, 62% for Dupixent and water reduction. So a lot of things we can do. For example, HVAC in energy. This is something half of our sites are consuming energy through HVAC. We are a highly aseptic-regulated, I would say, industry. So this is something we work with quality. We are not working on engineering, quality. All functions are working together on CAPA. Those CAPAs share across the network. And those CAPAs are implemented everywhere. So it's really a bunch of operational and expert people. And last but not least, we are learning from that. Anytime we design a future, I would say, building, Modulus, which is one of them, we just inaugurated in Lyon or Singapore, they are already frugal in water, frugal in energy. So we learn from because we have to remediate, I would say, the legacy site, which were built, I would say, a couple of decades ago. But we are learning from that on our eco-design. Eco-design is not just for product. It's for activity. It's for building. And we are clear standards. At Sanofi, we are not going to build any new building which is not reaching the high level of standards on energy, water, waste, etc. Thank you. Any other question? Yes? So thank you for your presentation. I have one question regarding your Scope 3 ambitions. So you still have 20% to achieve in five years. What are the main levers that you have for achieving these objectives? And are you planning also to use any compensation? So that's a good question. First, we don't plan to have any compensation. We want to reach a -30%. We are clear with that. I'm looking for José Valero, who is the Head of Environment in the group, who, looking at me, because we are very serious with that, we will achieve our -30%, okay? So you're right. If you look at maybe the trend today, -10%, you say, "Okay, your baseline was 2019. End of 2024, you are -10%. What's not maybe achievable for 2030?" And I will answer to you that I think it took us quite a lot of time to get material on Scope 3. Let's be honest. Let's be humble as well. We started Scope 1 and 2. It's much more easy. It's the emission of your operation and the data you source by yourself. So you have to map in your plant, but then you have to act. You are the one, if you have the funding, you can do it. You are the driver's seat. Scope 3, when we enter into that very seriously, let's be honest, that was complex to understand, okay? So we started with MAP, our supplier. Now we are a top emitter supplier, very clear. We are inviting them to a round of negotiation. So it's really embedded in our procurement, I would say, objective. In the negotiations, it's not only a question of price, of quality. This is as well a question of ESG criteria that we are putting in force in the contract. Next, we set up a supplier engagement plan. Because what we say exactly as a topic on PAI with PSEI or SMI task force we are in is that we cannot just say to the supplier, "Let's do it." I think our role is to help them get into maturity. It took us a while to get it. Now we have time for us to share with the supplier. And so we are really setting up some awareness session, even training, even learning, and then sharing best practice. So it's right that it took quite a long I mean, we have almost 40,000 suppliers at Sanofi. So we are targeting first the quick wins, which are the most emitters. And today, we see the results. So you see that we have minus 10, but we started a bit late compared to Scope 1 and 2 because it was complex for us to understand how to play that, okay? So we are focused. We have clear levers at PiE, I mentioned one of them. We have transportation and logistics flow, same topic. We have downstream emissions. We have waste, still something to go. Supplier engagement, the program we set up a couple of years ago, it's starting to pay, okay? There is kind of a, I mean, it's a big, big, big tackleable, if I may say, with 40,000 suppliers. But we see the results now. So all those levers are clear, have been embedded into the strategic plan, and have been translated into operational levers. So we are on it. You're right. You're right. It took us some time to start. But now we are very confident that we learn a lot. And we are moving on and in action. Thank you, Annabelle. I suggest to stop the Q&A session. We will have another one at the end of the session. We have five minutes breaks, I think. Yes, I say it's important with the heat here. If it's super short. Five-minute breaks. Back in five minutes. We will continue with the resilience of healthcare system and so on, inclusion as well. Q&A session, should you have any other questions to raise. Okay, thank you. We will restart for the second part of this event. I invite Marta on stage for the session regarding the R, the resilience of the healthcare system. To explain what we are doing, what we are expecting to do, and how we succeed in some extent to influence in order to improve the environmental footprint of the healthcare system. So globally, once again, next slide, please, to contextualize where are the what are the figures. So globally, in the world, the healthcare system is representing 5% of CO2 emissions average. It's huge. It's like the fifth country in the world. It's twice the airlines as well. So it's a huge contribution. And so some countries, it could be worse, as in France and the U.S. But more interestingly, is that 50% are due to supply chain. It's not just pharma products, but it's also about catering in hospitals, surgery equipment, lab equipment. So 50%, 5% are due to R&D, so particularly clinical trials. And 45% are linked to the patient care pathway. What is a patient care pathway? This is a journey that a patient is achieving in order to be treated for a certain disease. It starts by prevention, diagnosis, treatment, monitoring, and to a certain extent, complications, if any. Globally, this is 45% of CO2 emissions. Based on that, we have decided to play here and so to create the conditions to support countries in order to decarbonize, not only. We have also examples on plastics and so on. But I will focus on CO2 emissions because it's a good example of how we can work together collectively and how we can influence and work internally in order to shape a little bit the care pathway. If we are moving to the next slide, particularly, so we are creating the conditions to gather stakeholders of the healthcare system and to go beyond our own frontiers and so our own scope. Alone, we can't succeed. We need to work with academics, with scientists. I already mentioned that earlier. We need to work with hospitals, with patients' associations, payers, care providers, NGOs, and so on. A lot of stakeholders with WHO, UNICEF, and so on. We are working all together in order to make it happen. Particularly, Sanofi is leading an international public and private coalition on decarbonization of healthcare pathways. Our CEO is super committed on that topic and is sponsoring this working group. We are working with a lot of countries that are gathered in one initiative named ATACH, Alliance for Transformative Action on Climate and Health, gathering around 80, 90 now, sorry, 90 countries in the world that are committed to decarbonize, some of them to become net zero in the healthcare system. But the issue is that if we don't measure, we can't move. We can't act. And so the purpose of this coalition is to create the framework and the tool to measure the impact of the products, to measure the impact of a care pathway, and to identify the levers to activate quickly or not, but to activate in order to reduce this CO2 emissions. So the purpose clearly is to create sustainable care. We spoke about sustainable medicine, to create sustainable care. And by the way, with examples that we will showcase with Marta, is also to make the environmental criteria as an additional criteria in the recognition and rewards of our products. Some countries in the world have started to ask questions on that topic. So there is also a trend because there is an understanding that if we do not move now, for sure, as I told you, the healthcare system is under pressure. They need to move as well. They need us in order to help. So we are leading. And so we are recognized as a huge actor and contributor and supportive player in order to move forward, to move the needle, gathering all the external communities. We are working to create frameworks, international frameworks. So, for example, one initiative that will be launched at the end of this year in October is under the sponsorship of Sanofi. Pharma companies have developed a standard for the environmental footprint of the products. So this is the LCA Life Cycle Assessment Framework and Tool that will be available for everyone in the world, free of charge, and which will become an international standard usable by everyone once again. So this is the first time we have this kind of framework that will be used by also countries. And so we are making socialization. We have started in order to make it as a reference everywhere. And so it's very easy for us in order to apply and so to improve our products and manufacturing, logistics, and so on, but also in order to compare as some countries want to compare products between them. So if we are going to the next slide, so we have identified seven levers to decarbonize. The first is about the fleet of the healthcare system. We can't move there, except to ask to electrify in some countries, not everywhere. But there are two kinds of initiatives that we can leverage. First is to improve prevention and care. It is the most important, the most important. We have demonstrated that in diabetes type 2, good prevention can reduce by 62% CO2 emission on the care pathway for diabetic people, meaning that we have less people. We have less patients concerned. We can reduce drastically the CO2 emission through prevention. We are also thinking about early diagnosis in order to come very late in the disease, optimizing disease management. We have some studies that could be also implemented with, once again, real data, improving intervention efficiency, delivering care remotely. We have pilots in some countries on first telemedicine and also on digital tools, for example, once again for diabetes, a companion that can help the patient to monitor its diabetes and having under control and not going to the physicians that is also very happy to have the data in real time in order to manage and control remotely the patient. Using lower emission treatments, so this is what we are doing with our products. You had before the example of Dupixent and Altuvio. So we activate those levers of decarbonization. We work strongly with our medical team, with our R&D team in order to make it happen. Going to the next slide, this is what we do. What we do with R&D, first, as I mentioned earlier, we are documenting, informing R&D about the link between environment and health. Now it's part of the R&D topic. To better understand the mechanism of activation of inflammatory disease, but also immunology, but also what about the pipeline regarding the environmental topic. We are also starting to work with, as I said, with R&D and medical in order to manage the care pathway. Tarja mentioned the difference between Altuvio and Eloctate. Altuvio is once a week, sorry. Eloctate is every day. Just for that, just for that, we can decrease the CO2 emission of the care pathway, but not only. We can avoid people going to the hospital to have a treatment. It's just about travel. But there are other mechanisms that levers that we can activate in order to reduce the burden on CO2 of the treatment. And so I will let the floor to Marta in order to explain the initiatives that you have set up in Spain, which is on RSV. So I'll lead to Marta. Thank you. Thank you very much, Sandrine. Good afternoon, everybody. I'm Marta Diez. I'm the general manager of vaccines in Spain and Portugal. What I'm going to share with you is one concrete example of one of those levers that Sandrine was talking on prevention. This is the case of the implementation of an all-infant protection program in RSV with Beyfortus. RSV, to start with that, is a respiratory virus that is the first cause of bronchiolitis and pneumonia in babies under one year old. It's also the first cause of hospitalization in ICU of those babies. In the standard of care before 2022, it was Palivizumab. You see here on the top right. Palivizumab is a monoclonal antibody that was applied once a month for babies during the season. So it's basically one implementation between October to February, which is the season of RSV, so five around five injections for those babies. So this was very burdensome. It was also relatively expensive. So this made that the population targeted was very small. So it was around 1.5% of the babies in Spain. It's about 4,000 babies. So in 2022, EMA approved Nirsevimab. Nirsevimab is a long-acting monoclonal antibody that targets the babies under one. And basically, what it does is protect them during the five to six months, so basically all the season of RSV. In Spain, the product in 2023, the government decided to make this product available to every baby. So 100% of the babies in Spain were eligible to the product. And we obtained very high vaccination rates, immunization rates in the babies born in season. So between October and February, these babies are immunized in the hospital, in the maternity. And we got more than 90% coverage rate, which is really, really high. Babies born out of season, so between March to September, they are born. There is a catch-up program in October. So they have to go to the, depends on the country, the hospital, or the primary care setting. And they receive an immunization in October. So the vaccination rate was almost 90%, so also very high. Okay? What we are going to see now is in the next slide. Yeah. So we compare here what was the emission comparison between a program of Beyfortus versus the previous standard of care. So I didn't mention, but from a clinical perspective, what we proved in the first year of implementation is that Beyfortus reduced 80% of the hospitalizations. So 80% of the hospitalizations the previous years were avoided with Beyfortus. If you see here, there are two paths. One is the orange one, is when you implement Beyfortus because you immunize all the babies, you have larger emissions because basically, you pass from a 5,000 population of babies immunized to around 350,000 babies immunized. So you have an increase of emissions because you have around 300,000 additional injections and around 150,000 additional trips because remember, half of the kids are immunized in the maternity, half have to go to the primary care setting. But this is more than overcompensated by the emissions avoided because not only do you avoid primary care visits, you see here around 120,000 emission visits, 20,000 visits to the avoided, 65,000 hospitalizations and ICU stays for babies, and also 60,000 specialty visits. So less use of the healthcare systems, less travel to the healthcare settings. So this reduces 75% the emissions caused by RSV. So if you go to the next one, you're going to see the quantification of those impacts, and it's here. So this is based on real data. So there was a study done on real-world evidence in Spain. So what was the impact before the implementation of Beyfortus and after? So you see that here, we estimated that before the implementation, so with Palivizumab, there was 10,000 tons of CO2 equivalent per year. With the implementation of Beyfortus, we increased 2.9. So this is the cost in carbon emissions of immunizing all those babies. But we reduced almost 8,000 kilotons per year, right? And this is basically the use, mostly the use of the healthcare systems, but also the travel. So you see that an implementation of a program of this kind can reduce 50%, more or less 50% of the emissions related to RSV. You see here in percentage and also in absolute numbers. We made an estimate because sometimes it's hard to put what does it mean in real terms. So we estimated this around 14,000 trips between Madrid and New York, okay, by flight. So just to put a volume to this. So in the next one, yeah. Sorry. Thank you. So this puts some numbers and some specifics to what is the potential of a prevention program to reduce emissions. We have here two more examples, one also in the area of vaccines and the other one in the area of dermatology. So first is Efluelda. Efluelda is the high-dose vaccine for flu. We had a study done in France for all the population 65 years old and plus, so all the population eligible for the vaccine, with a vaccination rate in France of around 60%. There was an estimation that because of the avoidance of hospitalizations and also the avoidance of visits to the primary care centers, there was up to 10% more or less emissions avoided on top of, of course, better protection of those populations. The second example is not on the prevention side. It's more on the disease management side. It's Dupixent in the U.S. So Dupixent for the atopic dermatitis population. It was a study done on 100 subjects in the U.S. compared to the standard of care. The standard of care, I have to check on this, is corticosteroids, phototherapy, and immunosuppressants, right? There was this follow-up during a year in the U.S. By the avoidance of outpatient visits and also the travel to those visits, they could reduce up to 50% of the emissions versus standard of care. This really proves that when we look at treatments, we should not only look at the clinical impact and the economic impact, which is the traditional way of looking at impacts, but also how they have the potential to avoid carbon emissions. With this, we close this chapter. Thank you very much, Marta. Thank you. So, okay. And then we are going to give the scenes to. Thank you, Jennifer. To Jennifer. She's going to take us to taking the lead on inclusion. Thank you, Jennifer. Thank you, Marta. Hello, everyone. You still with us, hopefully? Oh, you're going to come back. Yeah, okay. Okay, on to the first slide, if we can. So hello, everyone. I'm Jenn Vivers. I'm global head of culture here at Sanofi. So four years ago, Diversity Edge was our big strategy around DE&I. And four years ago, since those four years, it's really helped us modernize not only our workforce, but our workplace to really help serve the patients that we're here to support. We have reduced the gender pay gap to below 5% for 78% of the countries we operate within. As Sandrine mentioned earlier, in senior leadership roles, we have 46% of those occupied by females. And we've introduced and implemented a global standard around gender-neutral paid parental leave across the globe. So as we move to 2030, in a landscape dominated by AI and personalization and inclusion innovation as the new standard, it's our values so sorry, catch my breath. So our values around aim higher, act for patients, be bold, and lead together. They won't only shape how we work here at Sanofi, but they will also really help us strive towards who we will become. With that, the values will help us evolve. Diversity Edge was a revolution. The chapter we're moving into now to really double down on inclusion, belong, beyond boundaries, is an evolution of where we've been in the last four years. We're building on that foundation. When inclusion is felt in the way that we lead, in the way that we make decisions, in the way that we collaborate, something much greater is created, and that is belonging. And when Sanofians feel they belong, they contribute confidently, they speak up, and they bring their best to work, and they innovate to really help solve problems for our patients. And in a science-led organization, that means better decisions, stronger teams, and greater outcomes for our people, patients, and the communities we serve. Thank you. So as we shift from Diversity Edge, which is our revolution, into belong, beyond boundaries, which is our evolution, we want all Sanofians to feel they belong beyond their role, beyond their team, beyond their function, their geography, their own demographic, to really thrive and innovate here at Sanofi. And how are we going to do that? We're going to do it with three bold leaps. So let me just go through those three bold leaps, and then we'll go into the detail. Each leap has three measures, and we'll be tracking those. So we'll go through those. So for our patients that we serve, we're focusing on building fairness for all in healthcare. For our own people, we're really going to ensure widespread ownership of inclusion across the business, not just with leaders and employee resource groups. And in places, the third leap, we're going to create a Sanofi standard around inclusion of our workplace and the communities. So let's just take each one at a time. So for patients, we want to lead the industry with inclusive research, access, and advocacy. How are we going to do that? We want to close the trust gap in healthcare. Some of you will know about our Million Conversations program, and we do that across 10 countries in which we operate. So we're going to rebuild trust in healthcare over the course of the next five years. Access to healthcare, we work in partnership with Jon in the Global Health Unit to really help them look at that big number of 2 million non-communicable disease patients being treated in middle- and lower-income countries. We're going to continue to focus on representation in clinical trials, really supporting our R&D function there with making sure 100% of those studies have inclusion strategies built in. That's our first leap. Our second leap is around our people. Really looking at how do we make inclusion a shared, everyday experience? Again, as I said, not just sitting with leadership and employee resource groups, but thread through everything we do. We want active inclusion to be felt here at Sanofi. Inclusion really drives innovation. We want it to be felt across Sanofi, and we want inclusive leadership to be embedded. How we measure that will be through our employee engagement survey. We want to make sure we're in that upper quartile for high-performing organizations. Fair representation of our workforce always will reflect the demographics and where we operate and is always a merit-based system and aligned to local laws, of course. The third leap around places, we want to hardwire inclusion in how we develop, design, and deliver. What does that mean? We want to push the dial on psychological safety. We know we've done a lot of work on this already. It's an ongoing job, but we know psychological safety drives innovation. We are going to work, obviously, with our P&C colleagues, our people in culture colleagues, but also ethics and business integrity to really see how we can move the dial to 2030. Accessibility for all, we want to surpass the Sanofi standard here around accessibility, both digitally and physically. And building opportunities for individuals, this is about economic opportunities and working with our procurement team and the small and medium-sized organizations that build up our supplier base and really creating 16,000 new jobs by 2030. It's a lot to take in. It's a plan on a page. But what underpins all of this is our continued commitment to AI and data analytics, really looking at how we continually track and drive this for the next five years. We are moving from competence to confidence, and we're moving from intention to impact. We know that when Sanofians feel like they belong, they believe, and when they believe, they take the lead. Thank you. Thank you, Jennifer. We will take 10 minutes for Q&A. I don't know who wants to start for this session on resilience of healthcare system and inclusion. Yes. I have a question regarding what you mentioned about the PCP strategy for medicine, like reducing the GHG emission from your medical solutions. Do you have any kind of targets of which kind of trajectory you want to achieve on this, like how many medical products are targeted with this strategy for the whole group? So in terms of care pathway, there's no real methodology. So we are currently working to develop also a framework with our competitors, but so we are working together on that in order to calculate it the same way. But nevertheless, there are methods that we have applied. So what we expect for the next years is to launch 1 product per GBU, 1 vaccine, 1 on GenMed, and 1 on Specialty Care in 5 markets. So we have to calculate. We have to get data, raw data, emission factors, which are not the same. Emission, we need emission factor from hospital. We need emission factor from a nurse traveling to go at home, for example. So this is other data that we need also to get. So it's not an easy topic. We feel confident that the markets that we want to reach, we start, and after the machine will be starting, and so we will continue and accelerate. Five countries, three products. So this is very, very novel. In Spain, it's the first time it has been done. So we are doing that post the fact, right? So we implemented the Beyfortus, and now we are doing this analysis. So one of the work we are going to do is also shaping the policy, right? What does it mean also, how we can make sure that the authorities also value this kind of analysis in their decision-making, right? And others can also follow, not only us with our products, but also other companies. Yes. Sorry. Regarding resilience, can you say a word about how do you avoid drug shortage? What do you put in place to mitigate the risk that sometimes we've seen vaccines, but maybe in other? Yes. So, for sure, we are discussing. So maybe on vaccines, you can take the floor. Go ahead. I know if you are talking generally of vaccines or with Beyfortus specifically? No, no. Generally for drugs and vaccines. Okay. You want to comment on vaccines. We have a plan for sure. We are looking, working with governments and the authorities in order to supply as far as we can. We have, in some cases, extended production in some manufacturing plants. We are dependent also on the forecast. We are dependent also on the government. We are working closely with the government in order to find the best way in order to avoid. It's not a matter systematically. It's not a matter of manufacturing. There are also other considerations because behind, at the end of the manufacturing plant, there are other partners that are there or other institutions that are playing a role as well. We are discussing a lot with authorities, with governments in order to find the best way. So in France, for example, there was a decision to have a minimum stock of products in order to ensure that we can deliver. So example also for RSV. So we have started to. So you can mention what decisions that we have taken on RSV. Yeah. So in RSV specifically, we are already starting the deliveries for the next season, right? So to avoid any potential supply issues. I think one of the questions for me is specifically talking about carbon emissions and sustainability is we need to educate also governments on how to forecast because what we find often is because our production cycle in vaccines is very, very long. So often it takes more than 12 months. We need to know the forecast for their consumption because sometimes we know it 3 months in advance, right? So we need to make assumptions. And I always say that the worst emission is the one that you produce and you have to throw away, right? So because at the end, this was one product that consumed resources and was worthless. So that's something we need to also work with them, right, for them to understand. It's a collaboration that we have to avoid shortages, but at the same time, to avoid the emissions. Good afternoon again, Philippe Peyre from Bernstein. A question, maybe a naive question. I was pretty impressed by the numbers, the emissions on Beyfortus minus 75%. When you discuss with payers, is it something that you do you share these numbers with the payers? Is it something that is helping or is nice to have? Just a naive question. I know that it's maybe not the place here. Thank you. Actually, we have not yet presented to the government. So this is you're the first people seeing this data. We are going to present it officially in Congress in October. So this is going to be when it's going to be the official presentation. But we see more and more the governments being sensible to this topic, right? So the environment. And we see that, for example, in purchasing decisions that they more and more ask, do the vaccines have plastic, for example, in their blisters? That That they have blisters. So they are more and more thinking about this topic. So they still have not incorporated the emissions, or at least not in my experience yet in the patient care pathways. But it has to be part of the policy shaping that we need to do. So maybe I can testify outside of Spain. For example, we had a study in France that we have presented to the Haute Autorité de Santé, just to make them aware that it is existing. And this is a consideration not just only on product, not just only thinking on CO2 because there are other considerations I mentioned, like plastic, for example, very important. And so we need also to educate the payers that not focus too much because we want to make the right choice in terms of design of products and for what is the impact on water scarcity, for example. So there is a lot of education, but some governments are fully aware. And so we see feedback today, including in regards to products. So to take into account with Eco-score in France, for example, that has been launched in February this year. So it comes. It's also up to us in order to educate of the importance of this topic in order to help the healthcare system on the whole and to decarbonize, to improve environmental footprint, to decrease the burden of patients, and also to decrease the cost of the healthcare system. Any other question? Finally, we okay. Yes, for sure. Maybe you don't want to get this one. Sorry. Just wondering, looking at the current context, ESG backlash, etc., speaking with our clients, so investors, many of us in the ESG community, we wonder how far will you stick to DEI policies, commitments when you have to discuss with a certain kind of president, please? Can you be a bit clearer on the actual question? Sorry. What is the impact of the U.S. on D&I policy? How we manage with ESG backlash and with a focus on D&I? Well, certainly, I think we're unwavering in our strategy. It's a natural evolution on a foundation that we've built over the last four years. We are continued in our commitment. We are not for changing. We truly believe that if we double down on inclusion here at Sanofi, we will be able to support the patients that we serve. The innovation will come from our people, right? That's why we've really focused in on patients, people, and places. As you see, we're totally integrated across the business. Often, D&I sits in people and culture, but actually, we've integrated right in through the business to make sure that we're having an impact right across and across all our geographies. We are continuing our journey, and we're unwavering in our commitment. I hope that helps. This is true for the other commitments as well because, as mentioned in the introduction, we are truly convinced that sustainability can create value for the business, contribute to the resilience of the business in the future. And so to pass the wave, this I may say that in these turbulent world and so creating value for society and environment. So we stay committed to what we have said because we truly believe this is important. Yeah. Any other question? Great question, though. Yeah, yes. Thibault, okay. Thank you very much. Thank you for your question. It was our pleasure to host you today, to give you a flavor of air, so to breathe a fresh air, even if it's difficult in this room, but whatever. Maybe we will meet next year in order to inform you about the progress we made. We continue to communicate in full transparency and periodically on the results, on the progress of our commitment on access, environment, resilience, and D&I. Thank you very much.