AT&T Releases March 2022 ESG Summary and Related Reporting
AT&T Inc.* (NYSE:T, news, filings) has released its March 2022 Environmental, Social and Governance (ESG) Summary and supporting materials, including 22 issue briefs outlining its approach to leading ESG topics identified as most important by our stakeholders.
AT&T’s March 2022 ESG Summary builds upon more than 15 years of detailed disclosure aligning to leading ESG reporting standards and frameworks, such as the Global Reporting Initiative, Sustainability Accounting Standards Board, Task Force on Climate-related Financial Disclosures and others. This year’s report reflects a multi-year effort to also align with the principles of integrated ESG reporting, illustrating how the management and oversight of leading ESG issues and metrics is integrated across AT&T’s operations and decision-making processes and how the effective management of ESG-related risks and opportunities creates value for AT&T and positively impacts major stakeholder groups.
“We’ve long believed that transparency in ESG reporting is important in order to provide accurate information about our commitments, progress and integrated approach to these important issues,” said Charlene Lake, chief sustainability officer, senior vice president, AT&T corporate responsibility, ESG
Highlights from the March 2022 ESG Summary include:
- Addressing the Digital Divide. In 2021, AT&T committed $2 billion through 2024 to help address the digital divide – including expansion of its Access from AT&T® low-cost broadband offering, which, when combined with FCC Affordable Connectivity Program benefits, can give households access to the internet at no cost.1
- The company’s digital divide commitment also includes the launch of AT&T Connected LearningSM, a multi-year initiative focused on narrowing the homework gap by investing in digital inclusion, digital literacy and digital learning opportunities for students and families.
- Building More Equitable Workplaces. AT&T’s ongoing focus on employee development and diversity, equity & inclusion (DE&I) is reflected in key hiring outcomes. In 2021, 55% of open positions and 53% of promotions were filled by diverse candidates.2
- The company also emphasizes DE&I in its supply chain. AT&T was one of the first companies in the U.S. to launch a supplier diversity program. And since 2017, AT&T Communications has spent more than $70 billion with businesses owned by minorities, women, LGBTQ+ people and those with disabilities.3
- Reducing Environmental Impact. AT&T is committed to enhancing operational efficiency, pursuing strong emissions-reduction goals and encouraging suppliers to do the same.
- Since 2017, AT&T has realized more than $400 million in annualized energy cost savings from energy efficiency projects.4
- Such efficiency projects have helped AT&T reduce combined Scope 1 and 2 greenhouse gas (GHG) emissions by 36.4% since 20155 — nearly 60% of the way toward the company’s 2030 science-based emissions reduction target.
- AT&T is also more than one-third of the way toward its 2035 goal of net zero Scope 1 and 2 GHG emissions.
- 47% of AT&T suppliers, by spend, have set their own science based GHG targets – 94% of the way toward AT&T’s 2024 goal.6
In addition to transparent disclosure of ESG goals and metrics, AT&T recognizes that customers and investors are more interested than ever in corporate oversight of leading ESG issues. As a result, the company significantly expanded its discussion of board and executive oversight for leading ESG issues and reporting in its 2022 proxy statement.