GlobalData offers a comprehensive analysis of Cogeco Communications, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Cogeco Communications‘s ESG performance. GlobalData’s company profile on Cogeco Communications offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Cogeco Communications, a leading telecommunications company, has set target for net zero by 2050 to address climate change and reduce its greenhouse gas (GHG) emissions and the company is taking steps to reduce emissions across scope 1, scope 2, and scope 3 categories. The company has restated its operational GHG emissions for fiscal years 2019, 2020, and 2021 due to recent acquisitions. To ensure transparency and accuracy, Cogeco engaged PwC to conduct a third-party limited assurance review of 98.4% of its data related to scope 1 and scope 2 emissions and energy consumption. This review demonstrates the company's commitment to accurate reporting and accountability.
In 2022, Cogeco Communications reported Scope 1 emissions from fleet and fuel in facilities at 12,463 tCO2e, Scope 2 emissions from electricity at 17,434 tCO2e, and Scope 3 emissions, encompassing purchased goods & services and capital goods, use of sold products, employee commuting, upstream and downstream transportation and distribution, fuel and energy-related activities, business travel, and end-of-life treatment of unsold products, amounted to 138,037 tCO2e.
Cogeco Communications aims for a 65% reduction in absolute operational emissions for Scope 1 and 2, targeting a 28.8% reduction by 2030. In Scope 3, the goal is to have 50% of suppliers by spend set their own science-based targets by 2025, with a target of 24% of suppliers achieving this. For emissions from the use of sold products, the company is aiming for a 30% reduction by 2030, currently at a 29% reduction target. In employee commuting, there is a target of a 30% reduction in emissions by 2030, with a current achieved reduction of 27%. The overarching goal is to achieve net-zero emissions for Scope 1, 2, and 3, with a 31% reduction targeted by 2050. Additionally, the company aims for 100% of energy consumed from electricity to be sourced from renewable sources, currently at a 41% renewable sources target by 2030.
Cogeco Communications has taken several steps to reduce emissions and achieve its net-zero targets. It has rationalized onsite workloads and transitioned them to modern cloud services, aiming to minimize its carbon footprint. The company is also investing in renewable energy sources and energy-efficient technologies to reduce its environmental impact. Additionally, Cogeco is working towards having 50% of its suppliers set science-based emissions reduction targets by 2025.
Cogeco Communications is determined to demonstrate strong and inspiring leadership in addressing climate change and supporting the closing of the digital divide. The company's efforts to address climate change and reduce emissions have been recognized by CDP, which included Cogeco in its 2021 Supplier Engagement Leaderboard. This recognition highlights the company's commitment to raising the level of climate action throughout its value chain.
In conclusion, Cogeco Communications is actively working towards achieving net-zero targets and reducing its GHG emissions. Through investments in renewable energy, energy-efficient technologies, and supplier engagement, the company is taking concrete steps to address climate change and minimize its environmental footprint.
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