Millicom is one of only three telecommunications companies - out of a total of 33 companies 1 in Latin America 2 - to have its targets validated as science-based. SBTi considers science-based targets to be those that are aligned with the necessary requirements established by climate science to meet the goals of the Paris Agreement: to limit global warming to well below 2°C above pre-industrial levels and to continue efforts to decrease it to just 1.5°C. For some time now, Millicom has focused on developing environmentally sustainable business practices, but to meet its SBTi targets, it must cut greenhouse gas emissions in half by 2030, and reach zero by 2050.
Millicom has committed to reduce absolute Scope 1 and 2 greenhouse gas emissions by 50% by the end of 2030 and Scope 3 emissions by 20% by the close of 2035, both starting from the indicators at the close of 2020 as the base year.
"The validation of SBTi is an important milestone for Millicom and our long-standing efforts to reduce our carbon footprint", said Mauricio Ramos, CEO of Millicom. Being positive agents for the environment is at the epicenter of our purpose to build the digital highways that connect people, improve lives and develop communities".
To achieve these ambitious levels of emissions reductions, Millicom is combining energy efficiency strategies with tools to increase the proportion of energy it uses from renewable sources. In 2021, Millicom procured more than 16,000 MWh from renewable sources, through power purchase agreements with Panama and renewable energy certificates with Colombia. In addition, it is adopting innovative energy supply models, such as energy as a service, to ensure continuity of service and a lower carbon footprint through the deployment of more than 1,200 new rural sites in Colombia over the next 4 years, of which more than 70% are off-grid.
We believe this will have a small additional impact on our carbon footprint and will represent a major step in the decarbonization of our services. The full benefits of this addition will be incremental as the implementation processes progress.
"We are pleased with the success of our Scope 1 and 2 emissions reduction initiatives and are building partnerships with the entire industry to meet the challenge of reducing our scope footprint", said Karim Lesina, Executive Vice President and Director of External Affairs at Millicom. "To be successful, close and collaborative work is necessary. We firmly believe that a green economy is a digital economy, and only the digital transformation of all industries can lay a truly solid foundation for long-term sustainable economic success".
SBTi is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact, the World Resources Institute and the World Wildlife Fund. The initiative defines and promotes best practices in science-based goal setting and independently evaluates and approves company targets. In partnership with the UN Global Compact and the We Mean Business coalition, SBTi is leading the Business Ambition for 1.5°C campaign, an urgent call to action from a global coalition of UN agencies, business and industry leaders, mobilizing the private sector to set ambitious 1.5 and zero emission targets.
Millicom is among more than 1,500 companies and institutions that have validated their science-based targets.