The meaning of climate change has long been established in the public consciousness. Investors are also increasingly asking what companies are doing for climate protection: are their targets ambitious enough? Are the big announcements followed up by concrete actions? According to what standards are emissions recorded and reported? Is the business model “climate-proof,” are risks and opportunities systematically analyzed, and is the organization being managed accordingly? Companies’ annual and sustainability reports are therefore an important source of information. On this basis, PwC has honored Deutsche Telekom as the best DAX30 company with the 2020 Building Public Trust Award.
Among other things, the experts praised the extensive and consistent reporting with regard to climate-related financial risks as per the TCFD (taskforce on climate-related disclosure), the credible communication of CO2 reduction targets, and the fact that the Group’s climate strategy is underpinned by a “science-based” target, which contributes to the limitation of global warming to 1.5 degrees in accordance with the guidance of the Science Based Targets initiative (SBTi). The Group has undertaken to achieve a 90 percent reduction in its direct and indirect emissions (Scope 1 and 2) by 2030, among other things. This is why Deutsche Telekom has been covering 100 percent of its power needs using renewable energies since the start of 2020. In 2021, this will be implemented worldwide.
The management of climate-related issues within the Group using KPIs (Key Performance Indicators) specific to the sector, business development in line with the UN’s Sustainable Development Goals, as well as very good reviews in the area of sustainable investments all helped the jury make their decision.
“It has long been an aspiration of ours to lead the way in climate protection. Those who wish to lead, however, must be in a position to explain their own approach to the general public in a transparent and verifiable manner. I am very pleased to receive the award for this reason in particular,” commented Birgit Klesper, Head of Corporate Responsibility at Deutsche Telekom, regarding the award.
Deutsche Telekom set its first climate protection target back in the mid-90s. The great performance in sustainability management and climate protection is regularly acknowledged by external ratings and rankings. As a result, in 2020 the company was named as part of the CDP “Climate A List” for the fifth time in a row and was featured in both the Dow Jones World and Europe Sustainability Indexes for the sixth time in a row.
About the Building Public Trust Award:
Earning the trust of the general public and investors is decisive for a company’s success nowadays. For this reason, PwC has been awarding the Building Publish Trust Award since 2016 to companies with particularly transparent, reliable reporting as well as non-financial value drivers and performance indicators. For more information click here.