Telia Company urges governments to accelerate the phaseout of fossil fuels

Via Telia Company

Nov 30, 2023

As COP28, the UN’s annual climate summit, starts today, g overnments, businesses, civil society and other stakeholders are coming together to discuss and act on the climate crisis. In a letter addressed to the heads of state attending the conference, Telia Company has joined more than 200 global companies with more than USD 1.5 trillion in combined annual revenue in urging governments to address the problem of burning fossil fuels – the primary cause of climate change.

The letter is part of the Fossil to Clean campaign coordinated by the We Mean Business Coalition and its partners, all global non-for-profit organizations that Telia engages with and that support companies’ journeys to decarbonization. Participating companies have all committed to playing their part in limiting global warming and aligning their businesses with the Paris Agreement’s goal of limiting the global temperature rise to well below 2°C and aiming for a rise of 1.5°C compared to pre-industrial levels. The urgency of this goal was underlined recently when scientists from the Copernicus Climate Change Service revealed that 2023 is set to become the warmest year on record, based on the data from January to October.

In the letter, businesses state that they are already feeling the impacts and costs associated with extreme weather events, which are increasing in numbers and intensity. The signatories urge governments to play their part, including by committing to the phasing out of fossil fuels and the realization of the goal of 100% decarbonized power systems by 2035 in advanced economies and by 2040 for other countries, at the latest. In addition, the letter calls on fossil fuel producers to set science-based climate targets, to commit to net zero and to take all the steps required to decarbonize their operations, products and services, including shifting away from fossil fuels and towards clean energy. Lastly, the letter calls on financial institutions to ensure that capital is allocated to accelerate the clean energy transition to “safeguard future growth and returns for people and planet”.

Sara Nordbrand, Head of Group Sustainability at Telia Company, says: “Climate change is intensifying and this reality is being experienced across all continents, with devastating effects on human lives, ecosystems and economies. It is encouraging to see so many businesses raising their voices, but governments must step up and set the rules needed for a proper transition in the coming years. Telia has reduced its own CO2 emissions by 85% since 2018 and only uses renewable electricity. But 98% of our remaining emissions are generated in the value chain. Many suppliers share our vision and commitment, but government policies are required for reductions to happen at the pace needed.”

Telia’s commitment to net zero

Telia has committed to achieving a net-zero value chain by 2040,a target aligned with science and validated by the Science Based Targets initiative. By 2030, the company will at least halve its value chain emissions and offset the rest. Apart from decarbonizing its value chain, as a provider of digital services Telia is a key enabler of solutions to the climate crisis, as carbon-intensive industries will also need to reduce their CO2 emissions and achieve net zero. For example, Telia’s IoT smart building and smart transport solutions already serve as tools that the company’s customers can use to reduce their carbon footprint. However, none of the efforts to scale digitalization to decarbonize economies will suffice if the world continues to burn fossil fuels.

Read the letter signed by Telia and learn more about the Fossil to Clean campaign.

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