Telefónica has been recognised today, and for the tenth consecutive year, as a global leader in transparency in performance for its action against climate change, as part of the ‘A List’ prepared by CDP, a non-profit organisation whose report is considered the “gold standard for corporate environmental transparency”.
In this report, CDP has assessed how Telefónica approaches its commitment to the planet, decoupling its growth from its environmental footprint by having reduced CO2 emissions in its operations (scopes 1 and 2) by more than 80%, through the introduction of more efficient technologies, as well as the use of renewable energies in 100% of its facilities in Europe, Brazil, Chile and Peru. In addition, the company is working to be a Zero Waste company by 2030 through design and purchasing with circular criteria, reuse and recycling.
Elena Valderrábano, Global Chief of Sustainability (ESG) at Telefónica, said: “Being on the CDP A List for a decade demonstrates the strength of our environmental commitment and encourages us to continue aligning our business model with the most ambitious scientific climate recommendations. At Telefónica, climate change management is part of the company’s strategy to build a greener future through digitalisation. Our Climate Action Plan is the compass that guides everything we do towards zero net emissions”.
Of the 346 companies included in the ‘A List’, Telefónica is one of 20 global telcos, 10 European and 16 Spanish companies out of nearly 23,000 that have reported information to CDP. In 2023, more than 740 investors, managing more than $136 billion in assets, asked companies to disclose data on environmental impacts, risks and opportunities through the CDP platform.
Sherry Madera, CEO of CDP, says: “Earning a place on the ‘A List’ is more than the score. It’s an indication of high quality, complete data that equips companies with a holistic view of their environmental impact, serves as a baseline for transition plans and – crucially – enables them to follow through on their ambitions. As we move deeper into the Decade of Action, and as CDP continually raises the bar for what represents environmental leadership, the work of A List companies is never complete. We look forward to seeing all companies turn their commitments into further and more meaningful and effective action.”.
CDP notes that this year’s A-List has seen a 24% increase in companies reporting and demonstrates that they are aware of the vital role they play in ensuring a net-zero, nature-positive future.
Climate Action Plan – A greener future
Climate change is one of the main challenges facing society. Telefónica, fully aware of the urgency of reducing CO2 emissions and its role as a facilitator of the decarbonisation of the economy, focuses its commitment on reducing its carbon footprint in order to have a network with zero net emissions on which to offer sustainable digital solutions that contribute to helping other companies reduce their own impact on the planet.
To this end, the multinational defines its roadmap in its Climate Action Plan in which it commits to achieving net zero Greenhouse Gas (GHG) emissions throughout the value chain by 2040, which means an effective reduction of 90% of all its operational emissions by 2030 and to neutralise the remaining emissions (less than 10%) through high quality carbon credits, 10 years ahead of international agreements.