Telefónica strengthens its position as a leader in climate management according to CDP

Telefónica has today been recognised, for the eleventh consecutive year, as a global leader a global leader in climate action. The Company has been included in the ‘A List’ drawn up by CDP, a non-profit organization. CDP´s ranking is considered the ‘gold standard of corporate environmental transparency’ and serves as a benchmark for analysts and investors in this field.

After analysing the performance of companies in 2023, CDP has once again positively assessed Telefónica’s commitment to decarbonisation. The telco has successfully decoupled its growth from its carbon footprint. Over the past eight years, the multinational has achieved an 81% reduction in its operational emissions (scopes 1 and 2) globally, as well as a 51% reduction when including those from its value chain.

CDP scores help guide the decisions of more than 700 investors managing over $142 trillion in assets.

Elena Valderrábano, Global Chief Sustainability (ESG) Officer at Telefónica, states: ‘We are working to accelerate responsible digitalisation that enhances competitiveness and generate a positive impact for all. In addition to reducing our emissions and increasing the resilience of our operations, we help other companies to become more efficient and lower their carbon footprint. Our networks and our digital solutions are powerful enablers of the green transition’.

Global Environment and Energy Policy

Internet connectivity and the use of digital technologies play a fundamental role in tacling many of today’s environmental challenges, such as climate change.

Telefónica stands out for its reduction in CO2 emissions but also for providing connectivity and digitalisation solutions that lower the carbon footprint of other sectors, including energy, transport and industry. This dual challenge is embedded across the entire Group, which is progressing towards net zero emissions by 2040 —including those from its value chain — and becoming a Zero Waste company by 2030.

To achieve this, the telco has a Global Environment and Energy Policy that involves all areas and operations across the different countries where it operates. This policy is implemented through its roadmap, the, which sets clear objectives and outlines the management of climate risks and opportunities.