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Why ESG reporting is critical for telecoms.

Economies are more digitally integrated than ever before and the global telecom sector is pivotal to delivering products and solutions, not just for a more connected world, but also a sustainable one - to help reach net-zero targets. However, the industry is locked in a constant battle with unique challenges, magnified by the overarching role of its offerings in influencing modern socio-economic outcomes. For instance, the industry currently consumes nearly 3% of global energy. Demand is only expected to rise in the days ahead, resulting in an imminent spike in the industry’s emission profile if left unchecked. While innovation around ESG, net-zero targets and sustainability actions are steadily progressing, the question around reporting accurate data is constantly being raised not just by customers and investors, but also regulators. The Voluntary Guidelines on Corporate Social Responsibility, published by the Ministry of Corporate Affairs (MCA), marked the beginning of ESG reporting in India in 2009. It was voluntary for the fiscal year 2021–2022 before new guidelines were put into effect, but it is now mandatory for the fiscal year 2022–2023. ESG reporting along with sustainable operations can no longer be overlooked.

By Akanksha Sharma, Head of ESG at STL.

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