We are well aware of the urgency of reducing CO₂ emissions, which is why we have bolstered our targets to help limit the global temperature increase to 1.5ºC.
Our goals for 2015-2025-2040 are not only compatible with the expansion of our network and quality of service, they also help us to be more competitive:
Net zero emissions
Our Executive Committee has approved the goal of having net zero emissions by 2025 in our main operations and by 2040 at the latest, including LatAm and our value chain. To achieve this, we are committed to reducing emissions in line with the 1.5ºC scenario and neutralising the remainder through the purchase of CO₂ absorption carbon credits, preferably through nature-based solutions.
Our intermediate targets are:
- To reduce our Scope 1+2 emissions by 90% by 2025 in our main markets, and by 80% globally in 2030, compared to 2015.
- To have net zero emissions by 2025 in our main markets, taking into account Scopes 1+2, and neutralise residual emissions.
- To reduce CO₂ emissions in our value chain by 39% by 2025.
- To reduce energy consumption per traffic unit (MWh/PB) by 90% in 2025 compared to 2015.
All employees are involved: part of our variable remuneration is linked to this target and we already have these programmes in place:
- More efficient transformation of our telecommunications networks.
- Energy efficiency projects.
- Renewable Energy Plan.
- Incorporation of an internal carbon price.
- Emission neutralisation plan.
We are part of the solution to the climate crisis
In six years, we have already reduced all our emissions by more than 40% (70% for Scopes 1+2 and 27% for Scope 3 since 2015).
Aware of our responsibility to promote a global movement against climate change, we are part of the following initiatives.
- Our Business:
Energy Efficiency Programme
Our challenge is to keep electricity consumption stable despite the sharp increase in the digitalisation of society and the rising amount of data going through our telecommunications networks. The main savings are achieved by upgrading our network and shutting down old equipment. To this we add initiatives to reduce energy in off-peak periods and in cooling, lighting, power equipment, etc.
Renewable Energy Plan
Not only do we want to be 100% renewable, but as a large consumer of electricity, we also help countries to generate more clean energy. To achieve both goals, we promote long-term power purchase agreements (PPAs) with utilities, contribute to the construction of small renewable hydroelectric or solar power plants, and self-generate our own power.
Our networks are green: we are 100% renewable in Europe, Brazil and Peru, fibre is 85% more energy efficient than copper and 5G is 90% more energy efficient than 4G.
Leaders in ESG financing
Since 2019 Telefónica has raised a volume of sustainable financing in the bond market of 3,250 million euros, the largest cumulative amount in the global telecommunications sector, and we intend to increase the weight of ESG financing to over €10 billion in the coming years, through new bond issues, loans or bank financing, to continue supporting projects with social and environmental impact.
A pioneer in the sector, the company launched the industry’s first green bond in January 2019, amounting to 1 billion euros, and a year later, in January 2020, it issued the first green hybrid bond, up to 500 million. Finally, in February 2021 it became the first telco to issue a sustainable hybrid bond, incorporating social projects to its financing work, and with which it obtained an additional 1 billion euros. And in November, a new issue of the same type of bonds added 750 million.
Energy Management Policy
Our Energy Policy forms part of our Environmental Policy and establishes our energy management principles.
Seven years on the CDP A-List
Telefónica as a leading global company against climate change.
Energy and GHG Emissions Inventory
All the data on our decarbonisation in the last few years.
- Telefónica’s three steps towards net-zero emissions
- Reconciling digitalization and Net-Zero economy
- The mobile sector, closer to net zero emissions
- 16 years of Energy Efficiency at Telefónica
- Telefónica, a Supplier Engagement Leader for helping suppliers to reduce their CO₂ emissions