TIM improves its position in the ratings of the environmental organization CDP (formerly Carbon Disclosure Project), earning an “A” and improving on last year’s performance, when it had received a “B” rating, and confirming its position once again this year as one of the world’s promoters of concrete initiatives to combat climate change. The initiative promotes the voluntary disclosure of information on environmental and financial performance in full alignment with the TCFD (Task Force on Climate-Related Financial Disclosures), with the aim of supporting and guiding stakeholders’ investment decisions through a full assessment of the company’s risks and opportunities.
TIM’s achievement, with an ‘A’ rating in both in Italy and Brazil, is the result of the decarbonization strategy that sets long-term ESG targets in the Business Plan and aims to reduce greenhouse gas emissions through energy efficiency, increasing use of renewable energy and choosing sustainable suppliers. From 2022, TIM has included two new targets in the Plan, such as a 47% reduction in upstream and downstream emissions (Scope 3) by 2030 and Zero Net Emissions (Scope 1+2+3) by 2040. Also in 2022, the climate strategy was validated by the SBTi (Science Based Targets initiative), which confirmed its consistency with the goal of keeping global warming within 1.5°C, as set by the Paris Agreement on Climate Change.
CDP, which analysed over 21,000 companies, uses a detailed and independent methodology for its evaluations, scoring from A to D- based on completeness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets.
TIM’s sustainability performance during 2023 is also evidenced by its presence in other major ESG indices and rating agencies:
§ in the Refinitiv Diversity and Inclusion Index the Group is the world’s leading telco company for diversity and inclusion policies;
§ in the Dow Jones Sustainability Europe Index TIM is among S&P Global’s Sustainability leaders as the only Italian telecommunications company;
§ in the Ecovadis Sustainability Rating TIM has the “Platinum Medal” and it’s in the top 1% of best companies rated for ESG performance in labour practices and human rights, environment, ethics and supply chain;
in the Parks LGBT+ Diversity Index TIM is ranked first in Italy for its commitment to LGBT+ inclusion
Rome, 6 February 2024
