Telefónica Commits to GSMA Climate Transition Guidelines
Telefónica has pledged its commitment to environmental sustainability by adopting the “Climate Transition Planning Guide for Telecommunications Companies” developed by the GSMA, a global organization representing roughly 1,000 mobile operators and associated companies. This commitment signals Telefónica’s intention to align its climate transition plan with the guidelines set forth in the guide. Telefónica, along with Virgin Media O2, is among the first twelve operators to embrace this initiative.
Why Climate Transition Matters for Telecoms
The GSMA emphasizes the critical role telecommunications infrastructure plays in supporting the global economy. The World Economic Forum estimates that businesses failing to adapt to climate-related risks could face a reduction of up to 7% in their annual profits by 2035. Conversely, investments in adaptation, resilience, and decarbonization offer tangible returns, potentially generating up to $19 in added value for every dollar invested. Climate transition planning allows companies to strategically mitigate risks and capitalize on opportunities presented by a changing climate.
Telefónica’s commitment to the GSMA’s climate transition guidelines underscores the growing importance of environmental responsibility within the telecommunications sector and highlights the potential for significant financial benefits through proactive climate action.
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