Green Is Good: TMT Companies Should Embrace Becoming Architects of Our Sustainable Future

As the consequences of climate change accelerate in severity and devastation, TMT companies have a responsibility to enact sustainability policies that have an immediate and significant impact.

Increased global interest in corporate sustainability among consumers, employees, investors, and policymakers means that pressure is mounting on the industry to do more and act faster.

As heavy contributors to energy usage, emissions, e-waste, and rare metal mining, TMT companies can expect continued scrutiny of their operations and supply chains.

The good news? The industry is perfectly positioned to magnify leadership in sustainable solutions that transform business practices and influence consumer behavior.

In fact, many of the world’s top TMT brands are leading the way with innovative and bold strategies.

In 2018, T-Mobile set an industry first by joining the RE100 pledge - a global initiative bringing together the world’s most influential businesses committed to 100% renewable electricity. The company committed to sourcing 100% of its total electricity usage with renewable energy by the end of 2021. With a renewable energy portfolio that includes a mix of Virtual Power Purchase Agreements, a green direct tariff, retail renewable agreements, community solar projects, and unbundled Renewable Energy Certificates (RECs), they became the first U.S. provider to hit their goal.

In 2019, Verizon became the first U.S. telecom company to issue a green bond (a fixed-income investment that finances environmental projects). Since then, the company has issued three green bonds totaling approximately $3 billion, the net proceeds of which have been allocated primarily to fund renewable energy projects and help meet Verizon’s goal of achieving net-zero carbon emissions by 2035.

Through AT&T’s new Connected Climate Initiative, the company is collaborating with universities, nonprofits, and businesses to identify ways that 5G and broadband technologies can reduce global emissions. The goal is to help some of the highest-emitting industries, including transportation, energy, and manufacturing, to reduce 1 gigaton (one billion metric tons) of greenhouse gas emissions by 2035. The plan is twofold: research ways to improve power management and reduce energy consumption, as well as enable innovations that find new, cleaner ways for industries to operate.

Earlier this year, Comcast announced a partnership with Echo Environmental to utilize a first-of-its-kind recycling solution for its customers’ end-of-life coaxial cables. The innovative technology breaks wires down into raw, new materials that can be repurposed, helping to significantly reduce landfill waste. Through the partnership, approximately 70% of Comcast’s cable and coax waste will be recycled each year.

Despite these efforts, there is still much work to be done across the entire TMT industry. According to the Intergovernmental Panel on Climate Change (IPCC), the next few years are critical to limiting warming to around 1.5°C (2.7°F). Global greenhouse gas emissions need to peak before 2025 at the latest and be reduced by 43% by 2030.

TMT technologies can change the way we live and work – from AI-driven climate monitoring to 5G-enabled decarbonization.

There is immense opportunity for companies that commit their knowledge, resources, and technologies to combatting climate change. In addition to cost reduction, revenue growth, and competitive advantage, there is an invaluable opportunity to develop the blueprint for a more sustainable future.

Until companies place sustainability at the core of their operations - and see the long-term value in delivering immediate results - the real risks to their employees, customers, partners, communities, and businesses grow stronger.