A Study to Learn How Well the Treatment Combination of Finerenone and Empagliflozin Works and How Safe it is Compared to Each Treatment Alone in Adult Participants With Long-term Kidney Disease (Chronic Kidney Disease) and Type 2 Diabetes

Inclusion Criteria:

• Participant with a clinical diagnosis of chronic kidney disease (CKD) and thefollowing:

• In Part A: eGFR 40-90 ml/min/1.73m^2 (with no more than 20% having an eGFR >75ml/min/1.73m^2) using Chronic Kidney Disease Epidemiology Collaboration (CKDEPI) formula at screening visit and at least one historical value of eGFR <60mL/min/1.73 m^2 within 3 months or have a registered diagnosis of CKD.

• In Part B: eGFR 30-90 ml/min/1.73m^2 (with no more than 20% having an eGFR >75ml/min/1.73m^2) using CKD-EPI formula at screening visit and at least onehistorical value of eGFR <60 mL/min/1.73 m^2 within 3 months or have aregistered diagnostic of CKD.

• 100 ≤UACR <5000 mg/g at screening visit (mean value from 3 morning voidsamples) and documentation of albuminuria/proteinuria (quantitative orsemi-quantitative measurement) in the participant's medical records at least 3months prior to screening

• Participant with type 2 diabetes (T2D) as defined by the American DiabetesAssociation (ADA 2021), with glycated hemoglobin (HbA1c) at screening <11%.

• Participant treated with the clinically maximum tolerated dose, as per investigatorjudgment, of angiotensin-converting enzyme inhibitor (ACEi) or angiotensin receptorblocker (ARB), but not both, for more than 1 month at screening visit.

Exclusion Criteria:

• Participants with type 1 diabetes (T1D).

• Participant with hepatic insufficiency classified as Child-Pugh C.

• Participant with blood pressure at Day 1 visit (Visit 2) higher than 160 systolicblood pressure (SBP) or 100 diastolic blood pressure (DBP) or SBP lower than 90mmHg.

• Participant currently treated with a sodium/glucose cotransporter-2 inhibitor (SGLT2i) or SGLT-1/2i or who received a SGLT2i or SGLT-1/2i which cannot bediscontinued at least 8 weeks prior to the screening visit and during studyintervention treatment.

• Participant treated with another mineralocorticoid receptor antagonist (MRA) (e.g.,eplerenone, esaxerenone, spironolactone, canrenone), a renin inhibitor, potassiumsupplements, a potassium sparing diuretic (e.g., amiloride, triamterene), apotassium binder agent, or angiotensin receptor-neprilysin inhibitor (ARNI) whichcannot be discontinued at least 8 weeks prior to the screening visit and duringstudy intervention treatment.

• Participants currently treated or who were treated with Finerenone (Kerendia©)within 8 weeks prior to the screening visit.

• Participant with serum/plasma potassium (K+) above 4.8 mmol/L at screening visit (central laboratory value).