Telenor is obliged to report relevant data on social and environmental performance based on the Norwegian Accounting Act. We focus on material issues identified in the materiality assessment, based on the consolidated set of GRI sustainability reporting standards.
See our Reporting page for all of our previous sustainability reports.
Our Key Sustainability Figures present the latest performance data on the social and environmental issues material to the Telenor Group. For reporting and investigation of breaches on compliance, please see Ethics & Compliance.
The Norwegian Accounting Act
In 2013, the Norwegian Parliament adopted a statute requiring large companies to report on how they follow up on material sustainability issues. These changes to the Norwegian Accounting Act require this report to be provided by the Board of Directors and to be published in the annual report or in another public document referred to in the report.
The amendment requires a large enterprise to account for what the company is doing to integrate respect for human rights, labour rights and social issues, the environment and anticorruption into their business strategies, daily operations and relationship with stakeholders. The report shall at least contain information on policies, principles, procedures and standards the company uses to integrate the above considerations.
It is worth noting that the acquisition of Finnish mobile operation, DNA, was completed in 2019 and was consolidated from 21 August 2019. DNA will publish its own sustainability report for 2019 and Telenor Group’s sustainability report for 2019 will not include performance data from DNA’s operation in 2019.
DNV GL has been commissioned by Telenor to carry out an independent review of the Sustainability Report 2019, in particular to assess the accuracy of claims. The engagement has been undertaken in accordance with the requirements in the ISAE 3000 standard as well as DNV GL’s general method for assessments of sustainability reporting.
Other external Reporting
Following the guidance of international frameworks, Telenor Group reports to various external organisations to ensure structured, transparent and relevant reporting of sustainability performance.
United Nations Global Compact
Telenor submits information to the UN in line with its ten globally accepted principles – in connection with human rights, labour, environment and anti-corruption. By participating in the Global Compact, Telenor has undertaken to incorporate the UN Global Compact principles into our everyday operations. Telenor Group reports to the UNGC at an advanced reporting level.
Telenor’s latest Communication on Progress (COP) to UNGC
Global Reporting Initiative
Telenor Group reports its non-financial performance based on the internationally accepted framework of the Global Reporting Initiative (GRI). The 2019 report has been prepared in accordance with the GRI Standards: Core option, with an in-depth and targeted reporting focusing on the most material topics to Telenor.
Carbon Disclosure Project (CDP)
Telenor submits information on its scope 1, scope 2 and scope 3 greenhouse gas emissions to CDP (formerly the Carbon Disclosure Project). CDP is an international, not-for-profit organiszation that is providing a global system for companies and cities to measure, disclose, manage and share vital environmental information. CDP has over the past 15 years created a climate reporting system that today is in line with the reporting framework of TCFD (Task Force on Climate-related Financial Disclosures).
FTSE Russell (the trading name of FTSE International Limited and Frank Russell Company) confirms that Telenor has been independently assessed according to the FTSE4Good criteria, and has satisfied the requirements to remain a constituent of the FTSE4Good Index Series following their June 2020 index review. Created by the global index provider FTSE Russell, the FTSE4Good Index Series is designed to measure the performance of companies demonstrating strong Environmental, Social and Governance (ESG) practices. The FTSE4Good indices are used by a wide variety of market participants to create and assess responsible investment funds and other products.
ISS-oekom Prime company
Telenor has been classified as a “Prime company” for the telecom industry according to ISS-oekom’s sustainability rating methodology. The Prime status is awarded to companies that fulfil ISS-oekom’s demanding requirements regarding sustainability performance in their specific industry sector. Telenor’s overall sustainability performance is scored as medium (rating C+) on a scale which goes from D- (poor) to A+ (excellent) – where overall Social and Governance categories rated as B- and overall Environmental categories rated as C+ (including Eco efficiency rated as A+).