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Telefonica, A Global Leader For Its Actions In Tackling Climate Change

Posted by Telefonica

Telefónica has been acknowledged as a leading global company for its actions in tackling climate change, featuring on the “A-List” drawn up by CDP, the non-profit organisation specialised in environmental impact.

CDP has assessed the multinational’s initiatives over the last year to reduce its CO2 emissions, to mitigate climate risks and to contribute to developing the low-carbon economy. “It is one of the few high-performance companies out of the thousands that were scored”, said CDP.

This ranking is made up of 8 telecommunications companies out of a total of 179 companies throughout the world, selected from more than 8,000 which had reported to CDP. The companies analysed by more than 525 investors with combined assets of more than 96 billion dollars receive a rating from A to D, according to the effectiveness with which they address climate change. Those that do not provide information or provide insufficient information score an F.

“To be on CDP’s A-List for the sixth consecutive year is a source of pride for Telefónica. Management of the risks and opportunities of climate change has formed part of our daily lives for more than a decade, but we won’t settle for that. We are aware of the urgent need to reduce CO2 emissions. For this reason we have reinforced our goals to be carbon neutral by 2050 and to contribute to decarbonising the economy with our digital solutions”, explained Enrique Blanco, GCTIO of Telefonica. The company announced at the COP25 its new commitments to help to restrict the global temperature increase to 1.5°C.

Telefónica, the only Spanish telco that appears on the A-List, issued successfully its first green bond in 2019, amounting 1bn€, to further improve its energy efficiency thanks to the process of transforming copper network into fiber optic.

The company’s greatest contribution to the environment is its digitalisation, helping companies to optimise the use of scarce resources such as energy and water, managing environmental issues such as waste, climate and air quality and reducing CO2 emissions. It saves 1.2 tonnes for every tonne it emits, and it aims to reduce its footprint tenfold by 2025.

Paul Simpson, CDP’s CEO, highlights the risks of the climate emergency for business and the opportunities provided by addressing them. At this critical time, “A-List companies are leading the market in terms of corporate sustainability, tackling the environmental risks and preparing to thrive in tomorrow’s economy.―CT Bureau

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