GlobalData offers a comprehensive analysis of Telenor, 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 Telenor‘s ESG performance. GlobalData’s company profile on Telenor 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.
Telenor, a Norwegian telecommunications company, has set a target to achieve carbon-neutral business operations for its Nordic operations by 2030. The company plans to achieve this target by implementing energy efficiency measures in network operations, purchasing renewable electricity through Power Purchase Agreements, and using Energy Attribute Certificates. Telenor reports its formal Scope 1, Scope 2, and Scope 3 emissions in line with GHG Protocol accounting in its annual CDP and sustainability reporting. The company also conducts an annual top-down climate risk assessment to evaluate key climate change risks across its operations. Telenor’s latest filings mentioned the keywords ‘Climate Change’ and ‘Emissions’ most number of times in relation to ‘Climate Change’.
Telenor is taking steps to reduce its carbon emissions, including network equipment modernization, minimizing diesel generator run hours through cyclic use of batteries, adopting renewable energy, and developing energy-efficient features in collaboration with equipment manufacturers and partners. The company is also working to influence suppliers to reduce their carbon footprint to limit their exposure to climate policy inflation effects. Telenor expects an emission trading system or carbon tax level of 100 EUR in Europe and 10-20 USD in Asia. The company's most significant climate risks include increased inflation from policy changes, low supply and high demand for renewable electricity, and physical risks from extreme weather events and chronic global warming effects.
Telenor's most significant climate opportunities include increased demand for the development of new services, evaluation as a climate-resilient and prepared company, and the use of more efficient production and distribution processes. The company's primary risk in a scenario where the world transitions to a low-carbon economy is transitional and comes from policy change, as goods and services, including energy, become more expensive due to increased pricing of greenhouse gas emissions. Telenor's emission profile in this scenario is roughly equivalent to the "Intermediate" SSP2-4.5 scenario from IPCC's 6th Assessment Report.
In conclusion, Telenor is taking significant steps to reduce its carbon emissions and achieve its carbon neutrality target. The company is actively putting energy efficiency initiatives into action, by embracing renewable energy sources, and engaging with suppliers to encourage them in reducing their carbon footprint. Telenor faces notable climate risks, such as potential inflation resulting from policy changes, the scarcity of renewable electricity supply coupled with high demand, and physical risks associated with extreme weather events and ongoing global warming impacts. On the other hand, Telenor also recognizes significant climate opportunities, including rising demand for innovative services, the potential to be acknowledged as a climate-resilient and well-prepared organization, and the adoption of more efficient production and distribution methods.