TIDMVOD
Vodafone Group Plc
18 April 2023
18 April 2023
CDP AND VODAFONE JOIN FORCES TO INCENTIVISE SUPPLIER
SUSTAINABILITY
-- New programme unlocks preferential supply chain financing
rates to suppliers that score highly against environmental
performance criteria
-- CDP to encourage industry-wide adoption of the model,
persuading even more suppliers to report on environmental
performance and reduce carbon emissions
Some of the world's largest telecoms suppliers are now able to
access preferential supply chain financing rates for disclosing
emissions data and operating their businesses more sustainably.
CDP, a global not-for-profit organisation that runs the global
environmental disclosure system helping financial institutions,
companies, cities, states and regions to measure and manage their
environmental impact, has joined forces with Vodafone by developing
a framework to encourage suppliers to reduce their own carbon
emissions.
Vodafone already asks suppliers to agree to achieving various
environmental, social and governance (ESG) targets across areas
like health and safety, diversity and the environment as part of
its responsible supply chain commitments. In addition, some
suppliers also complete an annual CDP survey that scores them on
environmental performance.
CDP and Vodafone have jointly developed a framework consisting
of 12 criteria from that survey - relating specifically to
greenhouse gas emissions in the supply chain - as the basis for a
new environmentally-linked supply chain finance programme. Vodafone
suppliers will be invited to share their environmental performance
score with their supply chain financing provider, and in doing so
will have the opportunity to receive preferential financing rates
based on their ranking.
The framework will initially be offered to suppliers, taking
advantage of Vodafone's supply chain finance programme through
Citi, and Vodafone will open the framework to a wider variety of
suppliers and their supply chain financing providers later this
year.
Vodafone believes the preferential supply chain financing rates
will encourage suppliers to submit data on their environmental
performance, reduce their carbon emissions overall, and ultimately
contribute towards the Group's Scope 3 emissions targets (reducing
emissions that aren't directly produced by the company, but are
linked to its business activity). (1)
In future, CDP plans to make a template of the framework
available to other players in the telecoms sector, with a view to
driving industry-wide adoption of the model.
- ends -
For further information:
Media Contact
CDP
Toyosi Adebayo
toyosi.adebayo@cdp.net
Vodafone Group
Media Relations
GroupMedia@vodafone.com
About CDP
CDP is a global non-profit that runs the world's environmental
disclosure system for companies, cities, states and regions.
Founded in 2000 and working with more than 740 financial
institutions with over $130 trillion in assets, CDP pioneered using
capital markets and corporate procurement to motivate companies to
disclose their environmental impact, and to reduce greenhouse gas
emissions, safeguard water resources and protect forests.
Nearly 20,000 organizations around the world disclosed data
through CDP in 2022, including more than 18,700 companies worth
half of global market capitalization, and over 1,100 cities, states
and regions. Fully TCFD aligned, CDP holds the largest
environmental database in the world, and CDP scores are widely used
to drive investment and procurement decisions towards a zero
carbon, sustainable and resilient economy.
CDP is a founding member of the Science Based Targets
initiative, We Mean Business Coalition, The Investor Agenda and the
Net Zero Asset Managers initiative.
Find out more via www.cdp.net or follow us on twitter @CDP.
About Vodafone
Unique in its scale as the largest pan-European and African
technology communications company, Vodafone transforms the way we
live and work through its innovation, technology, connectivity,
platforms, products and services.
Vodafone operates mobile and fixed networks in 20 countries, and
partners with mobile networks in 47 more. As of 31 December 2022,
we had over 330 million mobile customers, more than 28 million
fixed broadband customers, and 21 million TV customers. Vodafone is
a world leader in the Internet of Things (IoT), connecting over 155
million devices and platforms.
We have revolutionised fintech in Africa through M-Pesa, which
celebrated its 15(th) anniversary in 2022. It is the region's
largest fintech platform, providing access to financial services
for more than 58 million people in a secure, affordable and
convenient way.
Our purpose is to connect for a better future by using
technology to improve lives, digitalise critical sectors and enable
inclusive and sustainable digital societies.
We believe in the power of connectivity and digital services to
improve society and economies, partnering with governments to
digitalise healthcare, education and agriculture and create
cleaner, safer cities. Our products and services support the
digitalisation of businesses, particularly small and medium
enterprises (SMEs).
Our inclusion for all strategy seeks to ensure no-one is left
behind through access to connectivity, digital skills and creating
relevant products and services such as access to education,
healthcare and finance. We are also committed to developing a
diverse and inclusive workforce that reflects the customers and
societies we serve.
For more information, please visit www.vodafone.com , follow us
on Twitter at @VodafoneGroup or connect with us on LinkedIn at
www.linkedin.com/company/vodafone .
(1) Vodafone Scope 3 emissions targets:
www.vodafone.com/sustainable-business/our-purpose-pillars/planet/reducing-scope-3-emissions
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