Displaying items by tag: Climate Change
Huawei has released its 2019 Sustainability Report which highlights the progress that Huawei has made in supporting network stability and security, reducing emissions, responding to climate change, implementing its TECH4ALL digital inclusion action plan, and supporting the UN's Sustainable Development Goals (SDGs) over the past year.
Supporting network stability remains a major part of Huawei's social responsibility and mission. During emergencies like earthquakes, typhoons, tsunamis, and even armed conflicts, Huawei employees remain in the heart of the crisis to restore communications networks and support smooth network operations. In 2019, Huawei maintained network availability during more than 200 major events and natural disasters.
"Over the past year, we faced challenges the likes of which we have never seen. And we stood strong," said Liang Hua, Chairman of Huawei.
"We have worked day and night to patch the holes in this beleaguered business of ours, ensuring business continuity and the timely delivery of products and services to our customers. We have helped roll out networks worth hundreds of billions of dollars in more than 170 countries. Ensuring the stable operations of these networks and providing people with the best available technology is not only our purpose, it is the central tenet of our social responsibility."
Huawei also disclosed its mid- and long-term targets for carbon emissions reduction, circular economy, and renewable energy, as well as its progress in 2019.
Working towards emissions reduction, the energy efficiency of Huawei's main products was improved by up to 22%. In 2019, Huawei used 1.25 billion kWh of clean energy, which is equivalent to reducing 570,000 tons of CO2.
To contribute to a circular economy, Huawei is committed to maximizing the utilization of resources throughout the product lifecycle. For example, 86% of the products returned to the company were reused, and only 1.24% of its e-waste was landfilled.
Huawei is also working to use more renewables. The photovoltaic (PV) plants built on Huawei campuses have a combined capacity of 19.35 MW, and generated 13.57 million kWh of electricity in 2019. The company is also applying its smart PV solution on a larger scale, such as at the 300 MW PV plant in Argentina's Jujuy Province. This PV plant generates 660 million kWh of electricity annually, which is enough to power 160,000 homes.
Huawei is committed to furthering digital inclusion and making digital technology accessible to all. In 2019, Huawei launched the RuralStar Lite solution, which greatly reduces site construction costs and connects more than 40 million people in remote places.
The solution offers connectivity across all types of terrain such as plains, hilly regions, deserts, and island chains. Huawei has also worked with its partners to build the DigiTruck mobile digital classroom, which has provided digital skills training for nearly 800 Kenyans living in remote regions. In September 2019, Huawei signed an MoU with the UNESCO Regional Office for Eastern Africa. The two parties will work together to take the DigiTruck to more countries and make digital skills accessible to all Africans.
Huawei said in the report that ICT will play a critical role in achieving the UN's SDGs and called on the whole industry to work together to promote socioeconomic development, environmental protection, and the well-being of humanity.
"Huawei believes in openness and collaboration for shared success. We are working with industry partners, such as our suppliers, to build a thriving industry ecosystem," said Tao Jingwen, a board member and Chairman of the CSD Committee of Huawei. "We are fully confident that we can overcome these challenges. We will stay the course and continue creating value for our customers and the broader global community."
US telecommunications behemoth Verizon has pledged its commitment to helping the environment in an effort to address climate change by investing $1bn in green-friendly projects.
Verizon had been actively pursuing funding for its environmental commitments by using lower-cost bonds that appeal to a growing block of environmentally-sensitive investors. This week the US operator borrowed $1bn courtesy of a so-called green bond which basically allows them to spend the proceeds on projects that will create a positive impact on the environment.
The injection of capital will significantly help Verizon fulfill its promise from 2018, when it said that it intends to cover at least half of its energy use with renewable sources by 2025. It was further disclosed that new projects will include solar and hydrogen fuel cell electricity production at its existing properties and other investments will be made in larger solar and wind farms in areas in close proximity to its facilities nationwide.
Jim Gowen, Vice President for Verizon’s global supply chain expressed his delight at the investment boost and said it illustrated further proof of its commitment to creating a cleaner and more sustainable environment.
Gowen said, “This is now a real game changer. The whole goal of this new bond was to focus on a new, unique funding source.”
In addition to this, the bond issue was a huge success from a financial perspective. Wall Street underwriters had eight times more orders to buy bonds than bonds to sell which ultimately allowed them to reduce Verizon’s borrowing cost below the rate on its typical corporate debt. Verizon declined to specify the exact borrowing rate.
Green bond issuance rocketed to $167 billion worldwide last year, which represented almost a quadruple increase from the level in 2015. Projections appear to indicate that it has resonated with investors so much so that the sector issuance this year could hit $200 billion, according to Moody’s Investor Service.
The new initiative is one way the investment community is seeking to address the risks of climate change at a time when the federal government has renounced many such efforts. So far, most of the borrowing has been by government entities, but more corporations are getting in the market, too.
Verizon last year added 200,000 LED bulbs, Gowen says. Some money will also be spent on the company’s reforestation program a commitment to plant 2 million new trees by 2030 including 250,000 in areas hit by the series of major hurricanes in 2017 like Puerto Rico and Miami.
Verizon plans to spend the $1 billion in three years or less. And he’s already thinking about how the company could spend more with additional green bond issues. “I already have plans and I’m setting up my next $1 billion. We see this as a great funding mechanism in the future.