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Millicom (Tigo) Emissions Reduction Targets Validated by the Science Based Targets initiative
Millicom (Tigo) Emissions Reduction Targets Validated by the Science Based Targets initiative LUXEMBOURG, July 21, 2022 – Millicom International Cellular
About this update from Millicom International Cellular S.a.
[{"type":"text","content":"Millicom (Tigo) Emissions Reduction Targets Validated by the Science Based Targets initiative LUXEMBOURG, July 21, 2022 – Millicom International Cellular S.A., a leading provider of fixed, mobile and digital services in Latin America through its Tigo brand, today announced that the Science Based Targets initiative (SBTi) has validated its carbon emissions reduction targets. Millicom is one of only three telecommunications companies and 33 companies1 overall in Latin America2 to have their science-based targets validated. The SBTi considers targets as 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 well-below 2°C above pre-industrial levels and pursuing efforts to limit warming to 1.5°C. Millicom has long focused on environmentally sustainable business practices, but to achieve its SBTi targets, it must cut greenhouse gas emissions by half by 2030 – and drop to net zero by 2050. Millicom has committed to reducing absolute scope 1 and 2 GHG emissions by 50% by FY2030 and absolute scope 3 GHG emissions by 20% by FY2035, both from a FY2020 base year. “SBTi’s validation is a major milestone for Millicom and our efforts over many years to reduce our carbon footprint,” said Mauricio Ramos, Millicom’s Chief Executive Officer. “Being good environmental stewards is not a mere add-on for Millicom, but core to our purpose of building the digital highways that connect people, improve lives, and develop communities.” To meet these ambitious emissions reduction levels, Millicom is combining energy efficiency with initiatives and market instruments to increase the proportion of energy it uses from renewable sources. In 2021, Millicom acquired more than 16,000 MWh from renewable sources, through power purchase agreements in Panama and renewable energy certificates in Colombia. Furthermore, it is adopting innovative energy sourcing models, such as energy as a service, to ensure service continuity as well as a smaller carbon footprint through the roll-out of over 1,200 new rural sites in Colombia over the next 4 years, of which over 70% are off grid. We believe this will have a minimal additional impact on our carbon footprint—a big step in the decarbonization of our services. The full benefits of this addition will build up as roll-out con...