Telenor Group is committed to report relevant data on social and environmental performance, focusing on material issues and communicating its progress.
We report externally on the risks and opportunities most important to our long-term value-creation potential, and on topics that are strategically important to us and our stakeholders.
Our Key Sustainability Figures present the latest performance data on the social and environmental issues material to the Telenor Group. For reporting and investigation of breaches on compliance, please see Ethics & Compliance.
The Norwegian Accounting Act
In 2013, the Norwegian Parliament adopted a statute requiring large companies to report on how they follow up material sustainability issues. These changes to the Norwegian Accounting Act require this report to be provided by the Board of Directors and to be published in the annual report or in another public document referred to in the report.
The amendment requires a large enterprise to account for what the company is doing to integrate respect for human rights, labour rights and social issues, the environment and anticorruption into their business strategies, daily operations and relationship with stakeholders. The report shall at least contain information on policies, principles, procedures and standards the company uses to integrate the above considerations. In addition to the requirements of the Norwegian Accounting Act, Telenor Group is committed to the disclosure of its social and environmental performance, focusing on material issues and communicating its progress in line with stakeholder expectations.
The focus areas covered in this sustainability report are based on a materiality assessment process in 2015, which is in line with stakeholder expectations. The assessment has been conducted on the basis of Global Reporting Initiative G4 guidelines.
The Board of Directors of Telenor ASA decided in 2014 that the statement on how the company is delivering on material social responsibility issues should be provided as a separate section in the annual report, and the same format is being used for reporting in 2016.
DNV GL has been commissioned by Telenor to carry out an independent review of the Sustainability Report 2016, in particular to assess the accuracy of claims. The engagement has been undertaken in accordance with a procedure based on DNV GL’s general method for assessments of sustainability reporting, which has been tailored to specific Telenor requirements.
Key figures of our performance on the social and environmental issues that are material to the Telenor Group are presented in this data section.
Other external Reporting
Following the guidance of international frameworks, Telenor Group reports to various external organisations to ensure structured, transparent and relevant reporting of sustainability performance.
United Nations Global Compact
Telenor submits information to the UN in line with ten globally accepted principles – in connection with human rights, labour, environment and anti-corruption. By participating in the Global Compact, Telenor has undertaken to incorporate the UN Global Compact principles into our everyday operations. Telenor Group reports to UNGC at an advanced reporting level.
Global Reporting Initiative
Telenor Group reports its non-financial performance based on the internationally accepted framework of Global Reporting Initiative. The 2015 report is based on the G4 guidelines.
Carbon Disclosure Project (CDP)
Along with 4500 other companies around the world, Telenor reports annually to the CDP (formerly the Carbon Disclosure Project) on its performance related to climate change. CDP is an internationally accepted framework that urges organisations to measure and disclose their greenhouse gas emissions and climate change strategies in one shared format. For the third year in a row, CDP ranked Telenor Group on their global top ranking climate list for 2016. Telenor was the only Norwegian company and the only Nordic telco on CDP’s so called A List – out of a global total of 113 companies in all industry sectors.
Telenor has been classified as “Prime” according to oekom’s rating methodology, and is rated as B- in their most recent analysis, and Telenor’s tradeable bonds and shares will qualify for sustainable investments. This means that our performance is good on a scale which goes from D- (poor) to A+ (excellent).
oekom Research AG is one of the world’s leading rating agencies in the area of sustainable investment.
The Dow Jones Sustainability Indexes
Telenor Group has been ranked as top performer on The Dow Jones Sustainability Indexes (DJSI) for 12 consecutive years, from 2001-2013.
In recent years, sustainability reporting frameworks have evolved, and transparency and performance oriented reporting have come to the fore. Simultaneously more extensive legal requirements have been introduced. While DJSI is a highly regarded sustainability ranking, the methodology and results are not transparent, and many stakeholders prefer easy access to info online.
In 2014, Telenor Group decided to stop reporting to DSJI and to focus on providing transparent, timely and accurate reporting on our company’s non-financial performance through open channels. We will continue reporting to the reporting standard GRI, the UN Global Compact and the Carbon Disclosure Project. We will also continue to develop our performance based information on telenor.com/sustainability.