Telefónica obtains SBTi validation

Telefónica is the first telecommunications operator in the world to obtain the validation of the Science Based Targets Initiative (SBTi). The company confirms that its decarbonization route is in line with science.

Telefónica is committed to achieving net zero greenhouse gas (GHG) emissions across the entire value chain by 2040, which represents an effective reduction of at least 90% of all its emissions (direct and indirect) already neutralizing the remaining emissions (less than 10%) thanks to high quality carbon credits.

As an interim target, Telefnica will reduce absolute GHG emissions in Scope 1 and 2 by 80% and 56% in Scope 3 (value chain) by 2030.

In six years, the company has reduced all of its emissions by more than 40% (70% for Scopes 1+2 since 2015, and 27% for Scope 3 since 2016).

Telefónica is ahead of the 2050 goal of net zero emissions proposed by the United Nations and the Paris Agreement.

The SBTi is asking businesses around the world to align with its “Net-Zero Standard” to accelerate immediate corporate emissions reductions. To date, there are only 34 companies with approved net zero goals, including Telefónica.

The Science Based Targets Initiative (SBTi) is a global body, in collaboration with the CDP, the UN Global Compact, the World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the commitments of the We Mean Business Coalition, which enables companies to set ambitious emission reduction targets based on the latest climate science. Its goal is to accelerate companies around the world to halve their emissions by 2030 and reach net emissions by 2050.