Minerals Technologies Inc. (MTX): Análisis PESTLE [Actualizado en enero de 2025]

En el panorama dinámico de las tecnologías minerales, Minerals Technologies Inc. (MTX) se encuentra en la intersección de la innovación, la sostenibilidad y los desafíos económicos globales. Este análisis integral de la mano presenta la compleja red de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que dan forma a la trayectoria estratégica de la compañía, que ofrece información sin precedentes sobre cómo MTX navega por el intrincado terreno del procesamiento mineral moderno y el desarrollo de materiales avanzados.

Minerals Technologies Inc. (MTX) - Análisis de mortero: factores políticos

Políticas comerciales de EE. UU. Impacto en las regulaciones de importación/exportación de minerales

A partir de 2024, Estados Unidos impuso aranceles a las importaciones minerales que van del 5% al ​​25% para categorías de minerales específicas. Minerals Technologies Inc. enfrenta un impacto directo de estas políticas comerciales.

Categoría de política comercial	Tarifa	Tipos de minerales afectados
Minerales estratégicos	15%	Elementos de tierras raras
Minerales industriales	7%	Carbonato de calcio
Materiales avanzados	10%	Minerales especializados

Tensiones geopolíticas que afectan las cadenas de suministro de minerales de tierras raras

Las tensiones geopolíticas actuales han interrumpido significativamente las cadenas de suministro de minerales de tierras raras.

• China controla aproximadamente el 80% de la producción de minerales globales de tierras raras
• Dependencia de los Estados Unidos en minerales raras raras extranjeras: 54%
• Costo estimado de interrupción de la cadena de suministro anual: $ 127 millones para MTX

Regulaciones ambientales gubernamentales que influyen en las operaciones mineras

Los costos de cumplimiento ambiental para la extracción y procesamiento de minerales han aumentado sustancialmente.

Categoría de regulación	Costo de cumplimiento	Año de implementación
Reducción de emisiones	$ 3.2 millones	2024
Gestión de la calidad del agua	$ 2.7 millones	2024
Recuperación de tierras	$ 1.9 millones	2024

Políticas de inversión de infraestructura que respaldan las tecnologías minerales

Las inversiones federales de infraestructura afectan directamente los sectores de tecnología mineral.

• Inversión total de infraestructura en tecnologías minerales: $ 4.5 mil millones
• Subvenciones del gobierno para la investigación y desarrollo de MTX: $ 12.3 millones
• Créditos fiscales para el procesamiento de minerales avanzados: 15% de los gastos de capital

Minerals Technologies Inc. (MTX) - Análisis de mortero: factores económicos

Los precios fluctuantes de los productos minerales que afectan los ingresos de la empresa

A partir del cuarto trimestre de 2023, Minerals Technologies Inc. reportó ingresos anuales de $ 1.79 mil millones, con segmentos de productos basados ​​en minerales que experimentan volatilidad de precios. El precio de carbonato de calcio varió entre $ 350- $ 475 por tonelada métrica en 2023.

Segmento de productos	Ingresos 2023 ($ M)	Rango de volatilidad de precios
Minerales especializados	824.5	±7.2%
Materiales de rendimiento	612.3	±5.8%
Tecnologías de construcción	353.2	±4.5%

Incertidumbre económica global que impacta las estrategias de inversión de capital

MTX asignado $ 62.4 millones Para los gastos de capital en 2023, que representa una reducción del 12.3% de los niveles de inversión de 2022.

Año	Gasto de capital ($ M)	Cambio de inversión
2022	71.2	+3.5%
2023	62.4	-12.3%

Demanda continua de minerales especializados en sectores de fabricación

La demanda de fabricación de minerales especializados MTX se mantuvo estable, con $ 824.5 millones en ingresos de segmento. Las aplicaciones industriales clave incluyen:

• Componentes automotrices
• Fabricación electrónica
• Materiales de construcción

Estímulo económico potencial que respalda tecnologías materiales avanzadas

MTX posicionado para aprovechar el estímulo económico potencial, con $ 276.8 millones invertido en investigación y desarrollo para tecnologías de materiales avanzados en 2023.

Enfoque tecnológico	Inversión de I + D ($ M)	Impacto potencial en el mercado
Cerámica avanzada	89.4	Aeroespacial/electrónica
Materiales sostenibles	112.5	Fabricación verde
Nanotecnología	74.9	Aplicaciones de alto rendimiento

Minerals Technologies Inc. (MTX) - Análisis de mortero: factores sociales

Creciente conciencia del consumidor sobre la extracción mineral sostenible

Según un informe de sostenibilidad global de 2023, el 68% de los consumidores ahora priorizan el abastecimiento mineral con el medio ambiente. Minerals Technologies Inc. enfrenta una presión creciente para demostrar prácticas sostenibles.

Segmento de consumo	Preferencia de sostenibilidad (%)	Impacto en MTX
Millennials	72%	Alta demanda de tecnologías verdes
Gen Z	65%	Evaluación crítica de los métodos de extracción

Cambios demográficos de la fuerza laboral en los sectores de minería y tecnología

La Oficina de Estadísticas Laborales de los Estados Unidos informa que la edad promedio de los trabajadores de la industria minera es de 42.7 años, con una reducción proyectada del 5% de la fuerza laboral para 2030.

Grupo de edad	Porcentaje de la fuerza laboral	Tendencia
25-34 años	22%	Aumento de habilidades tecnológicas
35-44 años	28%	Nivel de experiencia pico
45-54 años	25%	Acercándose a la jubilación

Aumento de la demanda de procesamiento de minerales ambientalmente responsables

El Consejo Internacional de Procesamiento Mineral indica que el 53% de las compañías minerales mundiales están invirtiendo en tecnologías de extracción neutral en carbono en 2024.

Categoría de inversión ambiental	Porcentaje de empresas	Inversión anual ($ M)
Captura de carbono	37%	45.6
Integración de energía renovable	42%	62.3
Reducción de desechos	29%	33.7

Brecha de habilidades en tecnología mineral avanzada y campos de ingeniería

La National Science Foundation informa una escasez de 40% de ingenieros especializados de tecnología mineral en los Estados Unidos a partir de 2023.

Categoría de habilidad	Déficit actual de la fuerza laboral (%)	Necesidad de capacitación proyectada
Procesamiento de minerales avanzados	42%	5.600 ingenieros anualmente
Diseño de tecnología sostenible	38%	Se necesitaban 4.200 especialistas
Tecnologías de minería digital	35%	Se requieren 3.900 profesionales

Minerals Technologies Inc. (MTX) - Análisis de mortero: factores tecnológicos

Inversión continua en tecnologías avanzadas de procesamiento de minerales

En 2023, Minerals Technologies Inc. invirtió $ 42.3 millones en investigación y desarrollo, lo que representa el 4.7% de los ingresos totales de la compañía. El desglose de inversión tecnológica de la compañía incluye:

Área tecnológica	Monto de la inversión	Porcentaje del presupuesto de I + D
Equipo de procesamiento mineral	$ 18.6 millones	44%
Transformación digital	$ 12.4 millones	29%
Tecnologías de procesamiento sostenible	$ 11.3 millones	27%

Capacidades emergentes de IA y automatización en la extracción de minerales

MTX ha implementado tecnologías impulsadas por IA con las siguientes métricas:

• Los sistemas de clasificación mineral automatizada aumentaron la eficiencia operativa en un 22.5%
• Los algoritmos de aprendizaje automático redujeron los errores del proceso de extracción en un 17.3%
• Automatización de procesos robóticos implementados en 7 principales instalaciones de procesamiento

Desarrollo de materiales avanzados para aplicaciones industriales especializadas

La cartera de desarrollo de materiales avanzados de MTX incluye:

Tipo de material	Solicitudes de patentes	Valor de mercado potencial
Compuestos minerales nanogineados	12 patentes	$ 156 millones
Materiales de cerámica de alto rendimiento	8 patentes	$ 94 millones
Recubrimientos minerales especializados	6 patentes	$ 72 millones

Investigación sobre técnicas de procesamiento mineral más eficientes y sostenibles

Inversiones y logros de tecnología de sostenibilidad:

• Las tecnologías de reciclaje de agua redujeron el consumo de agua en un 35,6%
• Los métodos de procesamiento de eficiencia energética disminuyeron las emisiones de carbono en un 28,2%
• Presupuesto de investigación de extracción de minerales verdes: $ 9.7 millones en 2023

Minerals Technologies Inc. (MTX) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de protección del medio ambiente

Minerals Technologies Inc. reportó $ 8.2 millones en gastos de cumplimiento ambiental en 2022. La compañía mantiene la certificación ISO 14001: 2015 de gestión ambiental en el 85% de sus operaciones globales.

Categoría regulatoria	Gasto de cumplimiento	Jurisdicción regulatoria
Regulaciones de la EPA	$ 3.7 millones	Estados Unidos
Estándares ambientales de la UE	$ 2.5 millones	unión Europea
Protocolos ambientales de China	$ 2.0 millones	República Popular de China

Navegar por marcos legales de minería y comercio internacionales complejos

MTX opera en 14 países con licencias activas de minería y comercio. El equipo internacional de cumplimiento legal de la compañía consta de 22 abogados especializados que administran requisitos regulatorios transfronterizos.

País	Licencias mineras activas	Costo anual de cumplimiento comercial
Estados Unidos	7	$ 1.2 millones
Brasil	3	$850,000
Porcelana	4	$ 1.1 millones

Protección de propiedad intelectual para innovaciones tecnológicas

MTX posee 127 patentes activas a nivel mundial, con un presupuesto anual de protección de propiedad intelectual de $ 4.3 millones en 2022. La compañía presenta aproximadamente 18-22 nuevas solicitudes de patentes anualmente.

Categoría de patente	Número de patentes	Cobertura geográfica
Tecnología minera	47	América del Norte, Europa
Procesamiento de materiales	39	Global
Innovaciones químicas	41	Internacional

Adherencia a las regulaciones de seguridad y trabajo en el lugar de trabajo en operaciones mineras

MTX invirtió $ 12.6 millones en infraestructura y capacitación de seguridad en el lugar de trabajo en 2022. La compañía mantiene una tasa de cumplimiento de seguridad del 98.7% en las operaciones globales.

Categoría de regulación de seguridad	Inversión de cumplimiento	Tasa de reducción de incidentes
Estándares de OSHA	$ 5.2 millones	15.3% de reducción
Normas internacionales de trabajo	$ 4.1 millones	12.7% de reducción
Programas de protección de trabajadores	$ 3.3 millones	17.6% de reducción

Minerals Technologies Inc. (MTX) - Análisis de mortero: factores ambientales

Compromiso de reducir la huella de carbono en la extracción de minerales

Minerals Technologies Inc. informó un 15.2% Reducción en el alcance 1 y el alcance 2 emisiones de gases de efecto invernadero De 2018 a 2022. Las emisiones totales de carbono de la compañía en 2022 fueron 346,000 toneladas métricas de CO2 equivalente.

Año	Emisiones de carbono (toneladas métricas CO2E)	Porcentaje de reducción
2018	408,000	-
2022	346,000	15.2%

Implementación de prácticas sostenibles de minería y procesamiento

La compañía invirtió $ 22.3 millones en tecnologías mineras sostenibles En 2022. Las iniciativas de reciclaje de agua redujeron el consumo de agua en un 18,7% en las operaciones mineras.

Métrica de sostenibilidad	Rendimiento 2022	Inversión
Reciclaje de agua	18.7% de reducción	$ 8.5 millones
Gestión de residuos	62% de residuos reciclados	$ 6.2 millones
Tecnologías sostenibles	3 nuevas implementaciones	$ 22.3 millones

Desarrollo de tecnologías para minimizar el impacto ambiental

MTX archivado 12 nuevas patentes de tecnología ambiental en 2022, centrándose en técnicas de procesamiento de minerales de emisión reducida. El gasto de investigación y desarrollo para tecnologías ambientales alcanzó los $ 17.6 millones.

Invertir en soluciones de energía renovable para operaciones mineras

El uso de energía renovable aumentó a 24.6% del consumo total de energía en 2022. La compañía firmó acuerdos de compra de energía para 85 megavatios de energía solar y eólica, lo que representa una inversión de $ 42.1 millones en infraestructura renovable.

Fuente de energía renovable	Capacidad (MW)	Inversión	Porcentaje de energía total
Solar	45 MW	$ 22.3 millones	14.2%
Viento	40 MW	$ 19.8 millones	10.4%
Total renovable	85 MW	$ 42.1 millones	24.6%

Minerals Technologies Inc. (MTX) - PESTLE Analysis: Social factors

You're looking at the social landscape for Minerals Technologies Inc. (MTX) and seeing a clear push-pull between consumer preference and operational realities. The social environment is definitely shaping where they invest and how they manage their global workforce.

Sociological Trends and Consumer Alignment

The consumer side of the business is showing real momentum. The Household & Personal Care product line, which includes their SIVO™ cat litter business, posted sales of $130 million in the third quarter of 2025, which was a 2 percent sequential increase. This growth is fueled by strong volume in cat litter, a market where SIVO™ is a global leader in private label. To keep this engine running, MTX is actively investing in plant upgrades across the US, Canada, and China, aiming for completion by the end of 2025 to meet this growing demand.

Furthermore, consumer demand for responsible products is directly playing into MTX's innovation pipeline. Honestly, this is a huge tailwind for them. A full 66% of their new products now carry a sustainable profile, meaning they help customers with things like emissions reduction or better filtration. This isn't just marketing fluff; it's a core part of their product development strategy.

Workforce and Operational Safety Metrics

When you operate in 34 countries with about 4,000 employees, labor dynamics become a major factor in your operating costs and risk profile. Wage inflation and general labor market tightness in these diverse regions create persistent pressure on expenses. You have to manage this carefully, especially when trying to maintain margins.

On the flip side, their commitment to employee well-being is translating into measurable success. Safety performance is a key social metric for any industrial player. For instance, their 2024 performance, highlighted in their 2025 Sustainability Report, showed a world-class Total Recordable Injury Rate (TRIR) of 0.77. That's a concrete number showing dedication to keeping people safe, which is critical for employee morale and avoiding costly disruptions.

Key Social Performance Indicators for Minerals Technologies Inc.

Here's a quick look at how some of these social factors stack up based on the latest available data. It helps to see the scale of their social footprint:

Metric	Value/Status	Context/Date
Household & Personal Care Sales (Q3 2025)	$130 million	Sequential growth of 2%
New Product Sustainable Profile Rate	66%	Reflects alignment with consumer sustainability trends
Global Employee Count	~4,000	As of late 2025 reporting
Countries of Operation	34	Indicates broad exposure to global labor markets
Total Recordable Injury Rate (TRIR)	0.77	World-class performance reported for 2024

What this estimate hides is the regional variance in wage pressure; a 34-country footprint means some areas are seeing far more inflation than others, defintely. Still, the strong consumer segment growth suggests that the value proposition of their products is resonating despite these macro headwinds.

Finance: draft 13-week cash view by Friday

Minerals Technologies Inc. (MTX) - PESTLE Analysis: Technological factors

You're looking at how Minerals Technologies Inc. (MTX) is using technology to stay ahead, which is key because in specialty minerals, being a commodity producer is a fast track to lower margins. The company's tech strategy is clearly focused on operational excellence and high-growth environmental solutions.

Strategic investment in AI-enabled technology for mining operations improves safety and sustainability

Minerals Technologies is defintely leaning hard into Artificial Intelligence to sharpen its edge, especially in its mining and operational backbone. They are moving beyond simple reporting to real-time, conversational analytics by partnering with Oracle on their AI Factory, unifying data from systems like SAP and legacy platforms. This isn't just back-office stuff; they also expanded their partnership with AIM Intelligent Machines Inc. to deploy AI-enabled safety and productivity tools directly onto mining equipment.

This focus on smart tech directly addresses industry pressures for better safety and sustainability. Think about it: AI algorithms can analyze geological data to pinpoint mineral deposits more precisely, reducing waste, and autonomous operations cut down on human exposure to hazardous areas.

Here are some key tech deployments shaping their operations:

• Use AI for predictive maintenance to cut equipment downtime.
• Deploy autonomous systems to reduce human risk in dangerous zones.
• Integrate machine learning for optimized resource extraction planning.

Proprietary adsorbent technology is a key growth driver for PFAS remediation solutions

The environmental segment is seeing major technological differentiation through their proprietary adsorbent, FLUORO-SORB®. This technology, presented at the Gabelli's PFAS Symposium in September 2025, is designed to bind across the entire spectrum of Per- and polyfluoroalkyl substances (PFAS), or 'forever chemicals'.

What makes this a growth driver is its versatility; it's not just one-size-fits-all. They can use it as a flow-through filtration media, in permeable reactive barriers, or for soil solidification. This proprietary, certified approach helps them solve a massive, persistent environmental problem, setting them apart from competitors who might have less comprehensive solutions for these contaminants.

Technology-driven focus is essential to differentiate specialty minerals from commodity markets

For Minerals Technologies, technology isn't just a support function; it is the product differentiator, especially in their specialty minerals business. They are a self-described technology-driven company, using innovation to move away from bulk, price-sensitive markets. Their 2025 capital expenditure plan, projected between $90 million and $100 million, is aimed at supporting these strategic growth objectives.

This technological edge is what underpins the performance of their segments, even when broader markets are soft. For instance, while overall sales were down 2% year-over-year in Q2 2025, their focus on specialized solutions helps maintain pricing power.

Here's a quick look at how their segments performed in the most recently reported quarter, Q3 2025, showing the mix of their technology applications:

Segment / Product Line	Q3 2025 Sales (Millions USD)	Sequential Change
Consumer & Specialties (Total)	277	Flat
Household & Personal Care	130	Up 2%
Specialty Additives	148	Down 2%
Engineered Solutions (Total)	255	Up 2%

Capacity upgrades in cat litter facilities (e.g., Dyersburg, Tennessee) support Household & Personal Care growth

To meet the strong demand in consumer markets, Minerals Technologies is actively investing in physical capacity, which is a technology-enabled upgrade of their manufacturing footprint. They announced significant capital investments underway in late 2025 at plants including Dyersburg, Tennessee, Brantford, Ontario, and Chaoyang City, China, all aimed at supporting their SIVO™ pet care business.

The goal for the Dyersburg facility, for example, is to broaden manufacturing capability through streamlined logistics processes, leading to increased throughput and better flexibility. This physical upgrade is directly translating to sales growth; the Household & Personal Care product line saw sales of $130 million in Q3 2025, which was up 2% compared to the prior quarter, driven by cat litter volume. Cat ownership is reportedly at its highest level in a decade, so these tech-supported capacity expansions are crucial for capturing that market growth.

Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - PESTLE Analysis: Legal factors

You're looking at the legal landscape for Minerals Technologies Inc. (MTX) and the shadow cast by legacy liabilities is impossible to ignore. The biggest item on the docket, by far, is the ongoing Chapter 11 bankruptcy of your subsidiary, BMI OldCo (formerly Barretts Minerals Inc.), and the associated talc-related claims. This isn't just a background noise issue; it's a major financial event you have to account for in your modeling.

Significant talc-related litigation risk from subsidiaries' Chapter 11 case (BMI OldCo)

The legal risk stemming from BMI OldCo's Chapter 11 proceedings remains front and center for Minerals Technologies Inc. This is the primary legal overhang that management is actively trying to resolve through the court-approved plan of reorganization. The goal here is to channel all current and future talc-related claims into a trust, which should, in theory, provide a final resolution and limit further exposure for the parent company. Honestly, this is a necessary, albeit expensive, step to clear the deck for future growth.

The risk is explicitly cited in forward-looking statements as a key uncertainty alongside other operational hurdles. You need to watch the timeline for the court approval of that reorganization plan; any delay adds to the uncertainty that the market is currently pricing into the stock. It's a defintely complex situation that requires constant monitoring of court filings.

A $215 million reserve was established in Q1 2025 for estimated costs to resolve all talc-related claims

To put a number on the financial impact of this litigation, Minerals Technologies Inc. recorded a significant provision in the first quarter of 2025. Specifically, the company established a reserve of $215 million to cover the estimated costs of funding the trust intended to settle all those talc-related claims, plus the costs of the Chapter 11 case itself. This reserve is a concrete, quantifiable liability that hit the books early in the 2025 fiscal year.

What this estimate hides, though, is the final payout. The $215 million provision also includes $30 million in debtor-in-possession financing that Minerals Technologies Investments LLC provided to the Debtors. Here's the quick math: the total provision is a clear signal of the anticipated financial burden, but the actual cash outflow will depend on the final structure of the trust and the total number of claims channeled through it.

Key financial components related to the reserve:

• Reserve established for talc claims: $215 million
• Financing included in provision: $30 million
• Reporting period for provision: Q1 2025

Compliance with increasingly strict global environmental, health, and safety (EHS) regulations is a constant operational cost

Beyond the headline litigation, you have the steady, grinding cost of regulatory compliance. Global Environmental, Health, and Safety (EHS) rules are only getting tighter, especially for companies dealing with mineral extraction and processing. This isn't a one-time charge; it's a perpetual operational expense that eats into margins. You see this reflected in the company's risk disclosures, which always mention compliance with or changes to EHS regulation as a factor that could affect forecasts.

For your analysis, you must bake in expected capital expenditure for environmental upgrades and ongoing compliance staffing. Think about things like air and water quality permits, waste disposal protocols, and worker safety training-these all require dedicated spending that doesn't directly generate revenue.

Renewing or extending long-term sales contracts for satellite operations remains a key legal risk

Another area where legal and contractual diligence is paramount involves your satellite operations. The ability to successfully renew or extend the long-term sales contracts that underpin these operations is consistently flagged as a significant risk factor. These aren't just handshake deals; they are complex, multi-year agreements where the terms-pricing, volume commitments, and termination clauses-are heavily scrutinized.

If a major contract for a satellite business is up for renewal in the 2025-2026 timeframe, you need to see the negotiation strategy. A failure to secure favorable terms, or worse, a failure to renew at all, directly impacts future revenue stability. Consider this a contractual risk that requires legal sign-off and strategic planning well in advance of expiration dates.

Contract Renewal Risk Factors:

Area of Concern	Impact on Financials
Long-term Sales Contracts	Revenue stability for satellite operations
Contract Renewal Success	Directly affects future sales volume and pricing power
Legal Scrutiny	High due to complexity and duration of agreements

Finance: draft 13-week cash view by Friday.

Minerals Technologies Inc. (MTX) - PESTLE Analysis: Environmental factors

You're looking at a company that, frankly, has been putting its money where its mouth is on the environmental front. Minerals Technologies Inc. (MTX) isn't just talking about sustainability; the numbers from their latest 2024 Sustainability Report, released this year, show real traction against their 2025 goals. Honestly, this proactive stance reduces regulatory headaches down the line and appeals to a growing base of ESG-focused investors.

Environmental Performance Metrics

The big takeaway here is that MTX hit almost all its marks early. They achieved 11 out of 12 environmental targets set back in 2018, beating their 2025 deadline by a full year. That's not luck; that's planning. When you see this kind of execution, you have to give credit where it's due, even if one target remains unmet, which warrants a quick follow-up question on its specifics.

Here's a quick look at the key operational improvements they reported for the year-over-year period:

Environmental Metric	Year-over-Year Change	Reduction Since 2018 Baseline
Scope 1 Emissions	14% reduction	32% reduction
Scope 2 Emissions	10% reduction	36% reduction
Water Withdrawn	4% decrease	30% decrease
Waste CO2 Extracted (2024 Total)	N/A	Over 1.1 Million Metric Tons

What this estimate hides is the absolute reduction in coal usage, which they noted was slashed by approximately 70% since 2018. That's a massive shift in energy sourcing.

Circular Economy Wins and Water Stewardship

The circular economy aspect is particularly compelling for a specialty minerals company. MTX extracted over 1.1 million metric tons of waste carbon dioxide (CO2) from their own and customer exhaust stacks in 2024. They then sequestered that captured CO2 into usable consumer products, which is a defintely smart way to turn a liability into an asset.

Furthermore, managing water is crucial, especially as climate risk models get tighter. They continued their push to conserve, reporting a 4% year-over-year reduction in water withdrawn. This effort has resulted in a 30% reduction in water withdrawn since 2018.

You should also note these supporting environmental actions:

• 11 out of 12 environmental goals achieved ahead of schedule.
• 66% of new products support customer sustainability goals.
• Water discharge reduced by 13% year over year.
• Coal usage reduced by about 70% since 2018.

The fact that 66% of their new product portfolio is designed with a sustainable profile shows this isn't just about plant operations; it's baked into their R&D pipeline, which is where future revenue streams will be built. Still, the single unmet target needs a deep dive to understand if it was a low-impact goal or a sign of operational difficulty in a specific area.

Finance: draft a sensitivity analysis on the cost impact of maintaining the 2024 emissions reduction trajectory for the next three quarters by next Tuesday.