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 Net Zero and associated ESG keywords, GlobalData delivers valuable information on Cogeco Communications‘ 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.
Cogeco Communications, a Canadian telecommunications company, has set a net-zero target as 2050 for its greenhouse gas (GHG) emissions. Cogeco Communications' latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'.
The company has specific goals related to Scope 1, Scope 2, and Scope 3 emissions. In FY2022, the company reduced its total Scope 1 and 2 emissions by 28.8% and scope 3 emissions by 32%, in comparison to 2019. According to its ESG and sustainability 2022 report, Cogeco generated approximately 167,934 tonnes of carbondioxide equivalent emissions (tCO2e), with operational emissions (Scope 1 and 2) making up 18% of total emissions and emissions from our value chain (Scope 3) accounting for 82% of that total.
Cogeco Communications has restated its GHG emissions for fiscal years 2019, 2020, and 2021 due to recent acquisitions. The company has taken steps to reduce its environmental footprint, including rationalizing onsite workloads and moving them to modern cloud services to minimize its carbon footprint. Cogeco Communications has also been recognized for its efforts to raise the level of climate action across its value chain and has set an approved, science-based emissions reduction target for its Scope 3 emissions.
Cogeco Communications has invested in reducing its environmental footprint and has a strategy to reduce emissions in its supply chain. In fiscal year 2022, 24% of its suppliers by spend had or were planning to set a science-based emissions reduction target. The company aims to have 50% of its suppliers by spend to set science-based Scope 1 and 2 emissions reduction targets by 2025 and to reduce emissions from employee commuting by 30% by 2030 from 2019 levels. Cogeco Communications is determined to take concrete steps to address climate change. In terms of accounting metrics, Cogeco Communications reports on its environmental footprint of operations, energy consumption within the organization, and waste generation and significant waste-related impacts.
In conclusion, Cogeco Communications has set a net-zero target for its greenhouse gas emissions by 2050 and has taken significant steps to reduce its environmental footprint, including a substantial decrease in Scope 1 and 2 emissions by 28.8% and Scope 3 emissions by 32% compared to 2019. Cogeco Communications has engaged in third-party assurance reviews and is actively investing in emission reduction strategies throughout its supply chain, highlighting its commitment to addressing climate change and sustainability.