Describe the process(es) your organization has in place to ensure that your engagement activities are consistent with your overall climate change strategy[…]Telefônica Brasil has internal policies that reinforce our commitments to a low carbon economy. Climate change (CC) objectives are part of the Environmental and Energy Policy which were approved by the Board of Executive Officers and are applicable to all company.
These policies which are public guide the company towards a sustainable business model that protects the environment and seeks the transition to decarbonization, decoupling Telefonica´s Brasil growth from carbon emissions. Strategic guidelines that clearly defines our priorities are to reduce emissions and increase the sales of digital services. One of the pillars is to establish partnerships in order to leverage the role of ICTs for CC mitigation &adaptation and other sustainability objectives. The Institutional Relations area, which plays the closest role of dialogue with trade associations and governmental bodies, received dedicated training about Telefonica Brasil´s sustainability and CC initiatives. This team is led by the Institutional and Sustainability Vice President who oversees all governmental interactions. To ensure synergy between the areas he promotes regular meetings with all the staff in which are presented the company´s CO2 goals, climate change positions and objectives to be part of the efforts to limit global warming in 1,5oC.
In 2021, our CEO signed the public commitments Climate Neutrality and Business Leaders for The Climate, initiatives of the Brazilian Business Council for Sustainable Development (CEBDS), of which we are members. These letters that are directed to public policies makers represents the positions of the companies that are part of CEBDS which is a non-profit civil association that promotes sustainable development through articulation with governments and civil society. CEBDS developed a wide range of activities on the carbon markets front. In 2021 it had its proposal for a regulatory framework for the regulated carbon market in Brazil, presented at the Plenary of the Brazilian Chamber. The proposed Cap&Trade system includes gradual implementation for large emitting industries, also establishing a criterion for credits from the voluntary market. The law project was turned into the Decree No. 11,075 (2022), which initiates the regulation of the Brazilian carbon market through the establishment of procedures for the preparation of mitigation climate change sectoral plans, and by the creation of the National System for the Reduction of Greenhouse Gas Emissions.