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TELUS (TU) Boosts Leadership in Sustainability With New Targets

·3 min read

TELUS Corporation TU has set new science-based greenhouse gas (GHG) emissions reduction targets, boosting its global leadership in sustainability. The targets have been approved by the Science Based Targets initiative (SBTi).

The Canada-based communications technology company is committed to reducing absolute scope 1 and 2 GHG emissions by 46% by 2030 starting from 2019.

It has also pledged to reduce absolute scope 3 GHG emissions from business travel and employee commuting by 46%, and reduce scope 3 GHG emissions from purchased goods and services, capital goods and use of sold products by 75% for every million dollars of revenues.

In April 2021, TELUS released its 2020 Sustainability Report, which highlights the company’s environmental, social and governance priorities. The report also includes TELUS’ goal to achieve net carbon neutrality in its operations by 2030.

The SBTi drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. It utilizes a robust set of methodologies to calculate the amount of emission reduction needed for each sector and company to prevent global warming.

It’s worth noting that TELUS exceeded its climate change objectives in 2020. The company achieved a 17% reduction in energy consumption and a 37% decrease in GHG emissions over 2010 levels.

Also, it has successfully negotiated four Power Purchase Agreements that will provide 100% of its electricity needs in Alberta from renewable sources such as wind and solar.

The company is working to build a better future for the next generation through investments in innovative technologies and sustainable business practices. We expect such positives to get reflected in the stock price going forward.

TELUS’ shares have gained 14.5% in the past six months compared with 5.4% growth of the industry.

Zacks Investment Research
Zacks Investment Research

Image Source: Zacks Investment Research

The stock currently carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader sector are Cambium Networks Corporation CMBM, Cogent Communications Holdings, Inc. CCOI and Vicor Corporation VICR, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average.

Cogent delivered a trailing four-quarter earnings surprise of 29%, on average.

Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average.

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