Vodafone 2024 Annual Report

33 Vodafone Group Plc Annual Report 2024

Strategic report



Other information

Our ESG targets, reporting and governance Over the past year we have progressed against our ESG targets. These targets are supported by governance from the Board level down, as well as a comprehensive reporting programme.

85% 4G population coverage We aim to connect everyone to digital services by expanding network coverage to rural communities in Europe and Africa. ESG highlights 1

66.2m million customers 2 connected to our financial inclusion services We aim to connect 75 million customers to mobile money and financial inclusion services by 31 March 2026. Read more on page 36

3.3m V-Hub unique visitors To better support micro, small and medium enterprises (‘MSMEs’) across Europe and Africa, Vodafone Business offers V-Hub, its digital advice service 3 .

35% women in management and senior leadership roles We aim to have 40% women in management roles by 2030 .

100% electricity used in Europe matched with renewable sources Target achieved from July 2021, four years ahead of our original 2025 target.

59% reduction in Scope 1 and 2 GHG emissions since 2020 Aiming for net zero operations in Europe by 2028 and in Africa by 2035.

Read more on page 35

Read more on pages 36 to 37

Read more on page 18

Read more on pages 39 to 40

Read more on pages 38 to 39

External ESG assurance KPMG LLP has provided independent limited assurance over selected data within our ESG Addendum and this report, using the assurance standards ISAE (UK) 3000 and ISAE (UK) 3410 for selected greenhouse gas (‘GHG’) data. KPMG has issued an unqualified opinion over the selected data, and their full assurance statement, along with the reporting criteria, is available in our ESG Addendum. Reporting frameworks Vodafone reports against a number of reporting frameworks to help stakeholders understand our sustainable business performance: Our Global Reporting Initiative (‘GRI’) disclosure is included in our ESG Addendum. Click to download our ESG Addendum: investors.vodafone.com/esgaddendum GRI

ESG governance structure Executive Committee

The Executive Committee has overall accountability to the Board for our purpose and sustainable business strategy and reviews progress annually. Our ESG and Reputation Committee (‘ESGR’) meets monthly and has responsibility to drive purpose activities and review the submissions to the Board ESG Committee. We continue to include ESG measures in the long-term incentive plan for our senior leaders, and our purpose targets and activities have executive-level ownership. Read more about remuneration on pages 100 to 118 Board The Board delegates responsibility for oversight of our ESG programme to the ESG Committee, which regularly engages with our Executive Committee twice a year to provide oversight of our ESG strategy, sustainability activities and responsible business practices. Read more about the ESG Committee on pages 96 to 97 The ESG Committee meets with the Audit and Risk Committee annually to review ESG annual reporting for which they have joint responsibility. Read more about the Audit and Risk Committee on pages 89 to 94

Disclosures are prepared in accordance with the Task Force on Climate-related Financial Disclosures (‘TCFD’) framework. Read more in our Climate-related risk section on pages 64 to 69 Disclosures are prepared in accordance with the Sustainability Accounting Standards Board’s (‘SASB’) Standards. Click to read our SASB disclosures: investors.vodafone.com/sasb Vodafone supports the Ten Principles of the United Nations Global Compact (‘UNGC’). Click to read our 2024 UNGC Communication on Progress: unglobalcompact.org Vodafone participates in the CDP’s annual climate





ESG Committee

Audit and Risk Committee

Executive Committee

ESG and Reputation Committee


change questionnaire. Click to read our CDP response: vodafone.com/sustainability-reports

Protecting the Planet Executive-level sponsor: Joakim Reiter

Empowering People Executive-level sponsor: Serpil Timuray

Notes: 1. Continued operations only. Excludes Italy and Spain. 2. As at 31 March 2024. 3. These are cumulative figures since the V-Hub launch in July 2020.

Maintaining Trust

Read more about the governance underpinning our Maintaining Trust practices on pages 53 to 54

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