Telefónica has revised its Climate Action Plan to steer the company towards achieving net-zero emissions by 2040. This update emphasizes integrating climate actions across the organization, linking sustainability with competitiveness and value creation.
Key Points:
- Science-Based Targets: The new plan approaches climate management with ambitious, science-backed goals, assessing the economic impacts of climate-related risks and opportunities.
- Decarbonization Progress: By 2025, Telefónica aims for a 92.8% reduction in its Scope 1 and 2 emissions from 2015 levels and has already offset 100% of its emissions in specific countries. Additionally, it plans to reduce Scope 3 emissions by 28.2% since 2016.
- Comprehensive Strategy: The plan outlines six areas of action, including operational efficiency, supply chain collaboration, and leveraging digital solutions for reduced environmental footprints. By 2025, initiatives are expected to help avoid 19.2 million tonnes of CO₂ emissions.
- Financial Assessment: Climate risks and opportunities are integrated into financial decisions, targeting 40.7% of total financing to be sustainable by the end of 2025.
- SBTi Validation: Telefónica was the first telecom operator globally to get its net-zero targets validated by the Science-Based Targets initiative (SBTi), reinforcing its commitment to sustainability.
This plan signifies an essential component of Telefónica’s sustainability strategy, aiming to enhance its role as a facilitator of digital technology access while fostering a low-carbon economy.
