INWIT publishes its first Climate Transition Plan
Complementing and enhancing the business strategy for a zero-emission world
Suigo (INWIT): “Our first climate transition plan demonstrates our commitment to the fight against climate change, with decarbonisation measures to reach Net Zero by 2040”.
Rome, 16 September 2024 – INWIT, Italy’s leading tower operator, has demonstrated its commitment to a zero-emission world with the publication of its first Climate Transition Plan, a plan for the climate transition that complements and enhances its climate strategy.
The document provides an overview of the climate objectives set by the company and the initiatives launched to reach these in the target years. It also sets out a robust and credible decarbonisation plan, indicating practical action to fight climate change, with the goal of limiting global warming to 1.5°C, in line with the objectives of the Paris Agreement.
INWIT’s main climate objective is the Net Zero by 2040 target, validated in January 2024 by the Science Based Targets Initiative (SBTI). This challenging long-term goal further bolsters the commitment to the transition to a low-carbon economy and builds on the short-term emission reduction target for 2030, which was also validated by the SBTI in 2022, and which calls for a 42% reduction in direct and indirect emissions generated by electricity use (GHG Scope 1 and 2) as compared to 2020 amounts.
The attainment of these objectives revolves around direct actions to reduce emissions, as set out in the company’s Sustainability Plan (an essential part of the Industrial Plan): investments in technological solutions for more efficient energy consumption, purchase and self-production of electricity from renewable sources, awareness-raising and promotion among suppliers about how to reduce emissions in the production of assets and associated raw materials (particularly steel for infrastructure), using innovative design and technology inspired by the rationale of the circular economy.
At the same time, INWIT intends to start contributing immediately to the reduction of global emissions, by financing climate action projects through the purchase of certified and quality carbon credits, which will make it possible to reach Carbon Neutrality for Scope 1 and 2 emissions, starting with 2024 emissions and then for every year until Net Zero.
Moreover, INWIT is monitoring the risks and opportunities of climate change, in order to seize the opportunities offered by the transition to a low carbon emission economy, tackling and combating physical and transition-related climate risks, and thereby increasing business resilience.
The Plan’s progress is monitored on an annual basis, by calculating INWIT’s direct and indirect emissions, and is reported in the Integrated Report.
“Our first climate transition Plan demonstrates our commitment to the fight against climate change, bringing focus and clarity to the decarbonisation plan and to the work we are undertaking and intend to implement to reach Net Zero by 2040, one of the main environmental objectives set out in the company’s Sustainability Plan. We are thus continuing to implement the pathway for the transition to an ever more sustainable business model”, said Michelangelo Suigo, INWIT’s Head of External Relations, Communication and Sustainability.