Telefónica’s 10-Year Climate Leadership Acknowledged by CDP

Telefónica has once again secured its position as a global leader in environmental transparency and climate change action, earning a spot on the prestigious ‘A List’ compiled by CDP. This marks the tenth consecutive year that Telefónica has been recognized for its commitment to addressing climate change, showcasing the company’s sustained dedication to environmental responsibility.

CDP, a renowned non-profit organization considered the “gold standard for corporate environmental transparency,” evaluated Telefónica’s approach to mitigating its environmental impact. The telecommunications giant has successfully decoupled its growth from its environmental footprint by achieving an impressive reduction of over 80% in CO2 emissions (scopes 1 and 2) within its operations. This accomplishment is attributed to the implementation of more efficient technologies and the utilization of renewable energies across 100% of its facilities in Europe, Brazil, Chile, and Peru.

Telefónica is actively pursuing its goal to become a Zero Waste company by 2030 through strategic initiatives such as circular design and purchasing, as well as emphasizing reuse and recycling practices.

Elena Valderrábano, Global Chief of Sustainability (ESG) at Telefónica, expressed pride in the company’s decade-long presence on the CDP A List, emphasizing the strength of their environmental commitment. Valderrábano highlighted Telefónica’s dedication to aligning its business model with ambitious climate recommendations and reiterated that climate change management is an integral part of the company’s strategy for creating a greener future through digitalization. She underscored the significance of the Climate Action Plan as the guiding force steering Telefónica towards achieving zero net emissions.

Among the 346 companies featured on the ‘A List,’ Telefónica stands out as one of the 20 global telecommunications companies, 10 European entities, and 16 Spanish companies, showcasing its leadership in the industry. Notably, out of nearly 23,000 companies reporting to CDP, Telefónica’s inclusion reflects its outstanding environmental performance.

In 2023, over 740 investors with assets exceeding $136 billion urged companies to disclose comprehensive data on environmental impacts, risks, and opportunities through the CDP platform. Sherry Madera, CEO of CDP, emphasized that earning a place on the ‘A List’ signifies more than just a score; it represents high-quality, complete data that empowers companies to gain a holistic view of their environmental impact. Madera stressed that A List companies must continue their efforts as environmental leaders, turning commitments into meaningful and effective actions.

The 24% increase in companies reporting for this year’s A-List demonstrates growing awareness of the crucial role businesses play in ensuring a net-zero, nature-positive future.

Telefónica’s Climate Action Plan outlines its commitment to addressing climate change as one of society’s main challenges. Acknowledging the urgency of reducing CO2 emissions, Telefónica focuses on achieving a network with zero net emissions. The company aims to offer sustainable digital solutions that assist other businesses in reducing their environmental impact. The Climate Action Plan sets a roadmap for Telefónica to achieve net-zero Greenhouse Gas (GHG) emissions throughout its value chain by 2040, with a targeted 90% reduction in operational emissions by 2030. The remaining emissions (less than 10%) will be neutralized through high-quality carbon credits, a decade ahead of international agreements. This ambitious plan reinforces Telefónica’s commitment to playing a pivotal role in the global transition to a more sustainable and environmentally responsible future.

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