More ambitious reductions of 55% in Scope 1 and 2 emissions, and 40% in Scope 3 emissions, by 2030

Singapore, 11 January 2024 – The Singtel Group has deepened its commitment to environmental stewardship by making more aggressive cuts to its greenhouse gas emissions through a set of more ambitious science-based targets aligned with the goals of the Paris Climate Agreement to limit global warming to 1.5°C. Singtel is the first telecoms company in Asia to have these targets validated by the Science Based Targets initiative (SBTi).

As part of its renewed targets, Singtel is aiming for a group-wide 55% reduction in Scope 1 and 2 direct and indirect greenhouse gas emissions, and a 40% reduction in Scope 3 third-party emissions by 2030, using 2023 as the base year. The SBTi Target Validation Team has also confirmed that the net-zero goal of 2045, which Singtel had brought forward from 2050 in July 2023, is closely aligned with SBTi’s most stringent criteria. Singtel is the only Asian telco with a net-zero target ahead of 2050. 

Singtel set its first SBTi-validated targets in 2017, the first company in Asia outside of Japan to do so. It committed to cut absolute Scope 1 and 2 emissions across its Singapore and Australian operations by 42% from its 2015 base year by 2030. It has already reduced its Scope 1 and 2 emissions by more than 20%, as at end-2023.  

Mr Yuen Kuan Moon, Singtel Group Chief Executive Officer, said, “We firmly believe that we can pursue business growth while safeguarding our planet for future generations. This conviction propelled us to engage SBTi to approve our first set of SBTi targets in 2017. While we are on track to meet those targets, we know that we must do even more with the urgency of climate change. We are stepping up on our environmental leadership with a second set of targets that SBTi has again approved. These are aggressive goals and our teams are developing comprehensive plans to achieve them.”

Mr Luiz Amaral, Chief Executive Officer of the Science Based Targets initiative, said, “Climate science tells us that we need rapid and deep emissions cuts if we are to achieve global net-zero and prevent the most damaging effects of climate change. Singtel’s net-zero targets match the urgency of the climate crisis and set a clear example that their peers must follow.”

Singtel’s comprehensive decarbonisation strategy prioritises reducing energy consumption, improving energy efficiency, and transitioning to renewable energy sources. Since 2015, Singtel has invested nearly S$150 million in various climate mitigation measures including applying AI and machine learning technology to optimise its network energy usage, backing up its electricity with renewable sources, upgrading all chillers, facilitating e-waste recycling, maximising the deployment of solar panels at its facilities, and transitioning its vehicle fleet to electric vehicles. Singtel is also redeveloping its Comcentre headquarters into Singapore’s first end-to-end carbon neutral development and building green regional data centres. Besides reducing its own emissions, Singtel has deepened efforts to engage supply chain partners to increase disclosures and take greater climate action as well as support regional associates in their decarbonisation initiatives to reduce the Group’s Scope 3 emissions.

Singtel’s renewed science-based targets complement its pledge of support to the Business Ambition for 1.5°C led by UN Global Compact, SBTi and We Mean Business coalition, of which Singtel was the only Southeast Asian firm in a pioneering group of 28 signatories of the campaign in July 2019. Singtel’s environmental stewardship was also recognised with an “A-” leadership score for Climate Change 2022 from CDP for the sixth consecutive year, a 97^th ranking in the Corporate Knights and As You Sow Clean200 in 2022, and ASEAN’s second most sustainable telecoms brand in Brand Finance’s ASEAN 300.

For more information on Singtel’s sustainability initiatives, please see: https://www.singtel.com/about-us/sustainability.

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