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Vodacom Group recognised for leadership in addressing climate change.

Thursday, 7 March 2024

Vodacom Group has been recognised for its outstanding performance in transparency and proactive measures in tackling climate change by the CDP, a not-for-profit organisation that runs the global disclosure system for investors, companies, cities, states and regions to manage their environmental impacts.

In the latest CDP assessment, which serves as the global gold standard in environmental reporting, Vodacom Group earned a superior score of A-, an improvement from a B in 2022, indicative of the company’s accelerated progress in taking action against the climate crisis. This score is above both the African regional average (B-) and the media, telecommunications and data centre services sector average (B).

“We are proud to be recognised by the CDP for environmental leadership in disclosing action on climate change not only in our sector but also on the continent. Our improved score reflects our ongoing efforts on our purpose-led journey to reduce our carbon footprint, develop a climate transition plan and ensure we are building an inclusive, sustainable future,” says Shameel Joosub, Vodacom Group CEO.

In 2023 over 23 000 companies reported, through the CDP, on climate change, water security and forests. CDP’s scoring methodology assesses the level of detail and comprehensiveness in response, as well as the company’s awareness of environmental issues, its management methods and progress towards environmental stewardship. The CDP score is widely used to drive investment and procurement decisions.

Vodacom’s high CDP score marks a significant milestone in the Group’s commitment to contributing to a low-carbon economy in alignment with the Paris Agreement, which requires reducing emissions to keep global temperatures well-below 2°C and pursue means to limit the increase to 1.5°C above pre-industrial levels. As part of Vodacom’s climate transition plan, the company aims to halve scope 1 and 2 greenhouse gas (GHG) emissions and procure 100% of its electricity from renewable sources by 2025.

To achieve these goals, the company is focused on reducing its energy consumption, investing in on-site renewable energy, purchasing renewable energy certificates, and exploring alternatives to diesel.

In 2023, Vodacom announced a first-of-its-kind partnership with Eskom, South Africa’s electricity provider, to develop a solution to procure and ‘virtually wheel’ renewable power from utility-scale independent power producers. This presents an opportunity for other companies to follow suit, contribute renewable power to the national grid and reduce their emissions.

In Egypt, we also implemented a first-of-its kind agreement with the Egyptian Ministry of Electricity and Energy to purchase renewable electricity from the New and Renewable Energy Authority. This supports the investment case for growing the Egyptian renewables sector and the development of a market mechanism to sell and purchase renewable electricity. Additionally, it offers a blueprint for other corporate renewable electricity buyers to follow.

“As Vodacom, we recognise the critical role businesses play in addressing environmental challenges. We are therefore integrating sustainability into our core strategies and collaborating with other organisations and governments to drive meaningful change and safeguard our planet for generations to come,” concludes Joosub.

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Vodacom Group recognised for leadership in addressing climate change. | Vodacom Group