TELUS Corporation ( TU Quick Quote TU - Free Report) has issued a Sustainability-Linked Bond Framework that aligns its financing strategy with its goal of achieving net carbon neutrality across its operations by 2030. On Jun 7, TELUS announced that it has set new science-based greenhouse gas (GHG) emissions reduction targets, approved by the Science Based Targets initiative (“SBTi”). The Framework, which is the first of its kind in Canada, has been developed under the International Capital Market Association’s Sustainability-Linked Bond Principles 2020. It summarizes the process that TELUS intends to follow when issuing new sustainability-linked bonds. TELUS is bolstering its previously announced commitment to reducing absolute Scope 1 and 2 GHG emissions by 46% by 2030, starting from 2019. If the company fails to achieve this target, then it will voluntarily offer a premium payment or step-up margin amount. TELUS will report annually on its performance against its Scope 1 and 2 GHG emissions target. It will also obtain an external verification of its performance in this regard. As part of its efforts, TELUS has pledged to reduce absolute Scope 3 GHG emissions from business travels and employee commuting by 46%. It aims to reduce Scope 3 GHG emissions from purchased goods and services, capital goods and use of sold products by 75% for every million dollars of revenues, by 2030 from the base year of 2019. The SBTi drives ambitious climate action in the private sector by enabling companies to set science-based emissions reduction targets. It utilizes a robust set of methodologies to calculate the amount of emission reduction needed for each sector and company to prevent global warming. TELUS is working to build a better future for the next generation through investments in innovative technologies and sustainable business practices. This target underscores its global leadership in sustainability and support for the world’s fight against climate change. TELUS’ shares have gained 31.1% in the past year compared with 11.9% growth of the industry. Image Source: Zacks Investment Research
The stock currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader sector are Cambium Networks Corporation ( CMBM Quick Quote CMBM - Free Report) , Altice USA, Inc. ( ATUS Quick Quote ATUS - Free Report) and Vicor Corporation ( VICR Quick Quote VICR - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Cambium delivered a trailing four-quarter earnings surprise of 46.5%, on average. Altice delivered a trailing four-quarter earnings surprise of 61.5%, on average. Vicor delivered a trailing four-quarter earnings surprise of 80.6%, on average. Zacks Names “Single Best Pick to Double”
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