Sustainability governance
Sustainability is an integral part of Telenor’s governance framework, providing accountability and enabling the company to plan, implement and monitor progress on sustainability activities. The Sustainability Policy stipulates that Telenor Companies operate responsibly and in accordance with all relevant requirements and commitments.
This is done by ensuring that:
Human rights are respected, and steps are taken to prevent, and not be complicit in, any human rights abuses relating to Telenor’s activities, in accordance with the UN Guiding Principles on Business and Human Rights and other international standards such as the OECD Guidelines for Multinational Enterprises, the UN Global Compact and the Global Network Initiative Principles.
Negative environmental impacts are minimised, and GHG emissions are reduced in line with science-based targets validated by SBTi.
Continuous and meaningful contributions are made towards the achievement of the UN Sustainable Development Goals.
Sustainability Reporting is undertaken in accordance with requirements applicable to Telenor.
Critical infrastructure is increasingly made resilient to climate change and extreme weather events.
Marginalised groups are not left behind in the digital shift.
The role of management and the Board
Board of Directors’ role
The Board has established clear objectives and strategic ambitions for Telenor’s sustainability work. The Risk and Audit Committee (RAC) is a preparatory committee that supports the Board on responsibilities within financial and sustainability reporting, including relevant internal controls. The Board receives regular updates on sustainability matters and monitors the performance of the company. The Board is also responsible for approving significant targets and ambitions within sustainability.
Management’s role
The Group Leadership Team (GLT) ensures that Telenor’s commitment to high standards of business conduct is firmly anchored in the company culture and endorsed at all levels in the organisation by setting a clear tone from the top across all four business areas. The members of the GLT regularly discuss Telenor’s Responsible Business agenda, including compliance, anti-corruption, privacy and data protection. The GLT monitors the governance, target setting and performance of sustainability related matters.
Responsibility for sustainability
The sustainability work in Telenor is organised in the “People, Sustainability and External Relations (PSER)” department, headed by the Executive Vice President of PSER, which is responsible for the management of sustainability matters. This responsibility includes the development of the overall governance framework, target setting, ambitions and strategy related to sustainability. It also includes identifying initiatives and managing, monitoring and reporting on performance to management and the Board. The department is also responsible for the Code of Conduct and Supplier Conduct Principles. The Group Chief Financial Officer (CFO) is responsible for external reporting and internal controls related to the reporting.