SDG Framework 2021: Green and Social Bonds Issuance
Telecommunications and connectivity are essential services and a transversal pillar to tackle the Sustainable Development Goals (SDGs) according to United Nations.
Telefónica, as one of the world’s largest providers of telecommunications and digital services, has established a robust Sustainable Development Goals (SDG) Framework. Released in January 2021, this framework outlines the company’s strategy to contribute to the United Nations’ SDGs, with a strong emphasis on digitalisation and sustainability.
The framework is built on three main pillars:
1. Helping society to thrive by promoting economic and social progress through digital services
Includes providing faster and higher-quality internet access to individuals and businesses, promoting the digitalisation of small and medium-sized enterprises, and empowering individuals to face the challenges and opportunities of the technological revolution.
2. Building a greener future by promoting a ‘green world’ through digitalisation
Involves deploying the most efficient telecommunications networks (optical fibre and 5G) powered by 100% renewable energy, becoming a leading provider of solutions that help customers reduce their CO2 emissions, and promoting the circular economy in the use of electronic devices through eco-design, reuse, and recycling.
3. Go beyond responsibility, leading by example and building trust for all our stakeholders
This includes promoting inclusivity, safeguarding customer data, enhancing supply chain sustainability, and ensuring trust through transparent and reliable operations.
As part of our commitment to sustainability, Telefónica has also established a framework for the issuance of green and social bonds. These bonds aim to finance eligible projects that contribute to the SDGs. The green bonds support environmentally friendly initiatives, while the social bonds are aimed at projects that have a positive social impact.
Telefónica has decided to consider issuing green, social and sustainable bonds as a natural integration of sustainability in all company practices.
This framework has been reviewed by Sustainalytics SARL, which provided a Second Party Opinion. In addition, independent external auditors will ensure that the Allocation Report is consistent with Telefónica’s SDG Framework, on an annual basis until full allocation.
The framework outlines specific project categories and eligibility criteria for the green and social bonds, including energy efficiency, renewable energy, and digital solutions for the environment. It also details the company’s commitment to inclusive connectivity and supporting employment generation, entrepreneurship, education initiatives, and the development of new skills for economic growth.
In conclusion, Telefónica’s SDG Framework demonstrates the company’s commitment to sustainable practices and its role in contributing to global sustainable development goals through its digital services and the issuance of green and social bonds.
Read more of our SDG Framework in the link below:
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