CDP & VODAFONE INCENTIVISE SUPPLIER SUSTAINABILITY

RNS Number : 5000W

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.

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For further information: Media Contact CDP Toyosi Adebayo [e-mail] Vodafone Group

Media Relations

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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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