• Telia's overall net-zero target is to achieve net-zero GHG emissions across its value chain by 2040
• The company updated its near-term targets after reaching one of them - to halve emissions from its own operations (scope 1 and 2) by 2025 - ahead of time
• Telia also set new long-term targets for further reductions to be achieved by 2040

Telia Company is proud to announce that its targets set with the overall aim of achieving net-zero greenhouse gas (GHG) emissions across its value chain by 2040 have been approved by the Science Based Targets initiative (SBTi). In addition to the overall target, the SBTi also validated Telia's updated near-term and new long-term targets.

Science-based targets provide a clearly defined pathway for companies to reduce GHG emissions, helping to prevent the worst impacts of climate change and future-proof businesses. Targets are considered `science-based' if they are in line with what the latest climate science deems necessary to meet the goals of the Paris Agreement - limiting global warming to 1.5°C above pre-industrial levels.

Allison Kirkby, Telia Company President and CEO, says: "As the leading provider of critical digital infrastructure and services to the societies of the Nordics and the Baltics, Telia plays a dual role when it comes to addressing the ongoing climate crisis. We have the responsibility to cut our emissions in line with the scientific consensus, while also enabling other industries to accelerate the pace of their reductions through digitalization, an area in which 5G creates new opportunities."

Telia updated its near-term targets after reaching one of them - to halve emissions from its own operations (scope 1 and 2) by 2025 - ahead of time. Telia reached this goal by switching to 100% renewable electricity in 2020. Telia's new long-term targets complement its near-term targets, ensuring it meets its overall target.

Telia's approved science-based targets are as follows:

Overall Net-Zero Target

Telia Company commits to achieving net-zero GHG emissions across its value chain by 2040.

Near-Term Targets

Telia Company commits to reducing absolute scope 1 and 2 GHG emissions by 90% by 2030, using 2018 as a base year. Telia Company also commits to reducing absolute scope 3 GHG emissions from the use of products sold and downstream leased assets by 29% by 2025, using 2018 as a base year. Telia Company further commits that 72% of its supplier emissions, covering purchased goods and services and capital goods, will have set science-based targets by 2025.

Long-Term Targets

Telia Company commits to maintaining at least 90% absolute scope 1 and 2 emission reductions from 2030 through 2040, using 2018 as a base year. Telia Company also commits to reducing absolute scope 3 GHG emissions by 90% by 2040, using 2018 as a base year.

Telia's progress

A 2021 study (https://www.sciencedirect.com/science/article/pii/S2666389921001884) estimated that the ICT industry generates 2.1-3.9% of total global emissions. As several studies (https://exponentialroadmap.org/wp-content/uploads/2020/03/ExponentialRoadmap_1.5.1_216x279_08_AW_Download_Singles_Small.pdf) suggest, the sector also has substantial opportunities to enable the acceleration of emission reductions across other sectors through digital solutions (https://exponentialroadmap.org/wp-content/uploads/2020/03/ExponentialRoadmap_1.5.1_216x279_08_AW_Download_Singles_Small.pdf).

By the end of last year, Telia had reduced its own emissions by 85% (scope 1 and 2) compared to 2018 levels. Approximately 90% of Telia's total value chain emissions are generated in the supply chain, which is why Telia encourages its suppliers to align their plans and activities with climate science. By June 2023, suppliers responsible for 45% of Telia's supply chain emissions covering purchased goods and services and capital goods had, like Telia, set science-based targets. The company estimates that its sales of IoT and remote meeting solutions enabled customers to reduce their energy consumption by approximately 810 GWh and CO\2\e emissions by approximately 330,000 tons in 2022, equivalent to the annual electricity consumption of 90,000 households in Sweden and 2.4 million return trips by air between Stockholm and Helsinki, respectively.

Through collaborative initiatives with likeminded organizations, Telia aims to help its customers, partners and suppliers embrace digitalization and circularity, thereby playing an important role in accelerating a transition towards more sustainable practices.

Examples of this collaboration include Telia Company's engagement (https://www.gsma.com/betterfuture/climate-action) with the GSMA mobile network operator industry association, helping the Exponential Roadmap Initiative to create the 1.5°C Business Playbook (https://exponentialroadmap.org/wp-content/uploads/2022/09/1.5C-business-playbook-v2.0.pdf), co-founding the 1.5°C Supply Chain Leaders (https://exponentialroadmap.org/supply-chain-leaders/) initiative and providing practical guidance through the Supplier Engagement Guide (https://exponentialroadmap.org/supplier-engagement-guide/) and the SME Climate Hub (https://smeclimatehub.org/), and launching the Eco Rating (https://www.ecoratingdevices.com/) initiative to enable consumers to compare the environmental performance of various mobile devices.

To learn more, read our 2022 Annual & Sustainability Report (https://www.teliacompany.com/assets/u5c1v3pt22v8/Gp5w6fVQlTao50XukMg3B/706817669b20ad8ac8809472bbe386cd/telia-company-annual-and-sustainability-report-2022_ENG_FINAL.pdf) or visit the Climate and circularity (https://www.teliacompany.com/en/category/climate-and-circularity) section of our website.

About the Science Based Targets initiative

The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050.

The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies' targets.

For more information, contact Telia Company's press office on +46 (0)771 77 58 30 (http://tel:+46771775830), visit our newsroom (https://www.teliacompany.com/en/newsroom) and follow us on LinkedIn (https://www.linkedin.com/company/teliacompany) and X (https://twitter.com/Teliacompany). To download our logo, high-resolution images of Telia leaders, offices and solutions or B-roll footage for editorial use, visit our media bank (https://www.teliacompany.com/en/category/media-bank).