4
Vodafone Group Plc Task Force on Climate-related Financial Disclosures Report 2023
Overview
Risk Management
Metrics and Targets
Governance
Strategy
Our progress on climate strategy Evolving our approach to TCFD
Click to read our Annual Report vodafone.com/ar2023 Click to read our ESG Addendum investors.vodafone.com/esgaddendum
The timeline below shows a summary of how we have integrated the TCFD programme into our strategy and operations over recent years. Similar to our previous disclosures, we have once again opted to publish a standalone TCFD Report to enable us to provide more detailed information for investors and other interested stakeholders in a more accessible format. This TCFD Report should be read in conjunction with our other disclosures on climate change and our wider environmental, social and governance (‘ESG’) topics in our Annual Report and ESG Addendum to gain a broader understanding of our climate action.
Initial identification and assessment of climate-related risks and opportunities We performed an initial exercise to identify climate-related risks and opportunities for Vodafone and assessed their materiality. We included a summary of our findings in our 2020 Annual Report. Figure 2 Vodafone’s climate journey
Physical climate risk assessment
2023 TCFD Report Our 2023 TCFD Report provides our latest update on our approach to climate-related risks and opportunities, in line with the most recent guidance on the TCFD framework (October 2021).
Climate scenario analysis We completed a climate scenario analysis for a subset of our material risks to better understand the potential impact under three different climate scenarios. Read more on pages 10-12
First standalone TCFD Report We published our first standalone TCFD Report in 2021 to detail the progress made to date to align with the TCFD recommendations, with a breakdown of each TCFD element.
2022 TCFD Report Our 2022 standalone TCFD Report outlined actions undertaken to strengthen our climate governance and risk management and refresh our climate risk assessment to better align with actionable time horizons.
During FY23, we assessed the potential impact on a selection of our assets that are most at risk from physical climate change, so that we can better plan for business interruptions over the long term. Read more on page 8
2019
2020
2021
2022
2023
– 100% renewable electricity acceleration and Green Gigabit Net branding launched – 350m tonnes carbon enablement target announced
– Eco Rating launched to help customers identify the most sustainable mobile phones on the market.
– Purpose-led Vodafone announced, including
– Purpose
– 2040 net zero target announced – 2030 carbon reduction targets approved by Science-Based
– CDP A-List rating
– Vodafone is a headline sponsor at the 2022 climate change Conference of the Parties (‘COP27’)
– Global
– A-list rating awarded to
– 100%
– Vodafone Group named as
embedded in supplier selection process request for quotation (RFQ)
partnership with WWF announced
renewable electricity in Europe
Vodafone by Climate Disclosure Project (‘CDP’) for
a leader in CDP’s Supplier Engagement Rating Scheme
Planet targets
climate change action
(enabling our customers to reduce their environmental footprint)
Targets initiative
Powered by FlippingBook