MTN Group Releases its first TCFD-aligned Climate Report

In pursuit of Net Zero by 2040, MTN Group have released its first TCFD-aligned Climate Report.

Committed to play its part in creating shared value and securing a Net Zero future, MTN Group issued its first Climate Report aligned to the Task Force on Climate-related Financial Disclosures (TCFD) framework.

Climate change presents a unique vehicle to unlock innovative opportunities for green industrialization and job creation critical in contributing towards Africa’s progress. At MTN, they have stated their committment to achieve Net Zero by 2040. Taking climate action is an imperative to secure the socioeconomic development of its markets.

The TCFD guides companies in preparing climate-related disclosures to ensure consistency and alignment among organisations across the globe. MTN’s first TCFD-aligned report demonstrates the actions they are taking to build a more resilient financial system through climate-related disclosures.

The World Economic Forum’s Global Risks Report lists the top three threats in the medium and long term as failure to act on climate; extreme weather; and biodiversity loss. The world is already experiencing record heat waves and droughts, heavy rain and flooding. In April 2022, heavy storms in the KwaZulu-Natal province of South Africa led to the loss of lives, destroyed thousands of homes and caused widespread infrastructure damage and power outages, also affecting MTN’s sites.

At MTN, we recognise that climate change has the potential to impact our business, as well as the communities we serve. We are taking action now to evaluate these risks, guided by the TCFD framework as a means of continuously creating shared value for our stakeholders.

We are also working to understand the potential opportunities in transitioning to a low-carbon economy and adopting clean energy technologies. We have already started integrating electric vehicles, solar and wind energy, and battery storage into our operations.

In 2021, we launched our Project Zero to leverage the latest technologies and service partnerships to deliver greater energy efficiency, lower our carbon emissions, reduce risks and improve our cost controls. This was followed by our commitment in February 2022 to support the recommendations of the TCFD.

We are pleased with the progress we have made so far, but there is still much work to be done. No company can do it alone, and we intend to use our influence, technology and reach to inspire and enable wider action to tackle the risks and opportunities presented by climate change to the benefit of our customers, and our stakeholders.

Excerpt from a Press Release by MTN

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