January 20th 2022
NOS IMPROVES ITS SUSTAINABILITY PERFORMANCE AMONG TOP PERFORMERS IN TELECOMS SECTOR
NOS has improved its sustainability performance compared to 2020, and now has the sixth highest score in the European telecoms sector, according to the latest ESG (environmental, social and governance) Assessment from Moody’s ESG Solutions, an ESG data and assessments provider.
In Moody’s ESG Solutions’ 2021 ESG Assessment, NOS’s overall score is ‘Advanced’, obtaining 63 points out of 100. Moody’s ESG Solutions assesses 1,616 European companies, including 35 in the telecommunications sector.
NOS’ score represents an increase of three points compared to 2020, the highlight being an improvement in performance in the Environmental and Social areas, with scores of 69 and 66 respectively, well above the sector averages of 46 points in both areas, a recognition of the best practices and initiatives implemented across the organization. In the Governance area, NOS received a score of 53, compared to an average for the sector of 48.
Focusing on Company Behavior, Human Rights, the Environment, Community Involvement, Corporate Governance and Human Resources, the ESG Assessment evaluates the ability of companies to integrate sustainability factors into their strategy and management practices, with the aim of promoting economic growth, responsible investment and value creation in the medium to long term.
NOS’ objectives and targets for reducing energy consumption and emissions
In December, NOS greenhouse gas emissions reduction objectives were validated by the Science Based Targets initiative (SBTi). NOS’ new and more ambitious commitments are in line with the trajectories defined by climate science and that are required to limit the increase in global temperatures to 1.5º C, the core objective of the Paris Agreement. Internationally recognized, the SBTi evaluates and approves scientifically based reduction goals committed to by businesses, thus accelerating the transition towards a low carbon economy.
NOS commits by 2030 to reduce its scope 1 and 2 emissions (emissions related to its own business operations) by 90%, compared to 2019. During the same period, NOS also commits to reducing its scope 3 emissions (emissions up and downstream in its value chain) by 30%.