Tele2 recognized by CDP with an A score for the fourth time

Tele2 AB has been named to CDP’s A List for climate for the fourth consecutive year—placing it among the top 4% of more than 22,000 companies assessed in CDP’s 2025 Climate Change questionnaire—an endorsement used broadly by investors (over 640 financial institutions representing roughly $127 trillion in assets) as a signal of corporate environmental transparency. The company reiterates its science‑based targets set in 2021/2022: cut absolute scope 1 and 2 emissions 90% by 2025 and 100% by 2029 (from 2019), reduce scope 3 emissions 60% per subscription by 2029, and reach net‑zero across the value chain by 2035, while pursuing supplier requirements and circular‑economy measures. The recognition cements Tele2’s sustainability credentials and may bolster its attractiveness to ESG-focused investors and procurement processes, complementing its scale (2024 revenue SEK 30bn; underlying EBITDAaL SEK 11bn).

Analysis

Tele2 has been named to CDP’s A List for climate for the fourth consecutive year, placing it among the top 4% of more than 22,000 companies assessed in CDP’s 2025 Climate Change questionnaire; CDP disclosure is expressly used by over 640 financial institutions managing more than US$127 trillion, signalling investor and procurement relevance. Tele2 reaffirmed science-based targets set in 2021/2022: reduce absolute scope 1 and 2 GHG emissions 90% by 2025 and 100% by 2029 (from a 2019 base), cut scope 3 emissions 60% per subscription by 2029, and reach net-zero across the value chain by 2035. The company’s 2024 scale—SEK 30 billion revenue and underlying EBITDAaL SEK 11 billion—means successful delivery could materially improve its ESG-driven access to capital and procurement opportunities while modestly de‑risking reputational exposure. Execution risk is the principal caveat: rapid near-term decarbonisation and supplier-driven scope 3 reductions require measurable progress, third-party verification, and potential capex or OPEX implications that investors should monitor closely.

Key Decisions for Investors

• Consider a modest overweight or add-to-ESG-tilted sleeves because repeated CDP A recognition and clear science-based targets increase attractiveness to sustainability-focused allocators,
• Monitor Tele2’s 2025 S1/S2 emission results, disclosed scope 3 per-subscription metrics, and any third-party verification or updated capex guidance as primary triggers to increase or reduce exposure,
• Treat failure to deliver on near-term commitments as a catalyst for re-pricing risk—use position sizing, engagement, or hedges if the company misses 2025/2029 milestones or provides weaker-than-expected implementation detail