Liberty Global Releases People Planet Progress Report 2023

Rhea-AI Summary

Liberty Global (NASDAQ: LBTYA, LBTYB, LBTYK) has released its 2023 People Planet Progress report, highlighting sustainability and social impact achievements. Key points include:

- 44% women in workforce (Netherlands, UK, US)
- 28% decrease in carbon emissions since 2019
- Over 225,000 people benefited from affordable connectivity packages
- 1.9 million people impacted by digital skills programs
- 92% renewable electricity procured
- 600,000+ devices refurbished
- Increased CDP rating to B grade

The company joined the UN Global Compact and aims to have 45% women in its workforce by 2025.

Positive

• 28% reduction in direct carbon emissions (Scope 1 & 2) since 2019
• 92% renewable electricity procured across consolidated group
• Over 600,000 devices refurbished for a second life
• Increased CDP rating to B grade
• 44% women in workforce for Netherlands, UK, and US operations
• 1.9 million people impacted by digital skills programs
• Over 225,000 people benefited from affordable connectivity packages

Negative

• None.

Insights

Corporate Sustainability Analyst

Liberty Global's 2023 People Planet Progress report showcases significant strides in corporate sustainability. The 28% reduction in Scope 1 & 2 carbon emissions since 2019 is particularly noteworthy, demonstrating tangible progress in environmental stewardship. The company's commitment to gender diversity, with women comprising 44% of the workforce in key regions, aligns with broader industry efforts to promote inclusivity.

The report highlights impactful social initiatives, including providing affordable connectivity to over 225,000 people and positively influencing 1.9 million individuals through digital skills programs. These efforts contribute to bridging the digital divide, a critical issue in today's technology-driven world.

While the report presents a positive narrative, investors should note that sustainability metrics can indirectly impact financial performance through enhanced brand reputation, customer loyalty and potential cost savings from energy efficiency. However, the direct financial implications of these initiatives are not quantified in the report, which may leave some questions unanswered for value-focused investors.

Environmental Policy Expert

Liberty Global's sustainability report reveals commendable progress in environmental stewardship. The 28% reduction in Scope 1 & 2 emissions since 2019 is significant, especially considering the energy-intensive nature of the telecommunications industry. The 92% procurement of renewable electricity across the consolidated group is particularly impressive, positioning Liberty Global as a leader in the transition to clean energy.

The company's efforts in circular economy practices, such as refurbishing 600,000+ devices and using 100% recycled plastics for new products, demonstrate a holistic approach to sustainability. These initiatives not only reduce environmental impact but also potentially lower production costs and enhance brand value.

Liberty Global's participation in the European Green Digital Coalition and improved CDP rating to B grade indicate a strategic commitment to climate action. However, investors should note that the report lacks details on Scope 3 emissions, which often constitute a significant portion of a company's carbon footprint. Future reports addressing this gap would provide a more comprehensive view of the company's environmental impact.

‘Growing for Good’ Report Highlights Performance Against Liberty Global's Sustainability and Social Impact Priorities During the First Year of its ‘People Planet Progress’ Strategy

DENVER, Colorado--(BUSINESS WIRE)-- Liberty Global Ltd. (Liberty Global) (NASDAQ: LBTYA, LBTYB and LBTYK) has released its annual People Planet Progress report for 2023, demonstrating its steadfast commitment to fostering inclusivity, sustainability and responsibility across its business. Highlights include women constituting 44 percent of the workforce in Liberty Global Netherlands, UK and US as well as a 28 percent decrease in carbon emissions (Scope 1 & 2)* since 2019.

Liberty Global launched its People Planet Progress strategy last year, aligning its existing sustainability and social impact priorities across the business. It also joined the UN Global Compact, the Joint Alliance for CSR and the Sustainable Markets Initiative to build transparency and help amplify its commitments in the field of sustainability.

Building on the three pillars of People, Planet and Progress, highlights from the report include:

People

• Over 225,000 people benefited from affordable connectivity packages provided by Telenet and VMO2.
• Women constituted 44 percent of the workforce in Liberty Global Netherlands, UK and US. This means that Liberty Global is on track to meet its end-of-year 2025 ambition for its workforce to be made up of 45 percent women by 2025.
• 1.9 million people positively impacted by VMO2 and VodafoneZiggo programs and partnerships to help build digital skills.
• 15,000+ hours volunteered by employees of Liberty Global and consolidated subsidiaries.

Planet

• 28 percent reduction in direct carbon emissions (Scope 1 & 2)* since 2019.
• 92 percent renewable electricity procured across Liberty’s consolidated group.
• 600,000+ devices refurbished for a second life, with new entertainment and connectivity boxes made from 100% recycled plastics.
• Continued support as a co-founder of the European Green Digital Coalition

Progress

• Launched SustainEd webinar series to educate employees on sustainability topics.
• Increased CDP rating (formerly Carbon Disclosure Project) to a B grade, demonstrating commitment to climate action.
• Joined the UN Global Compact (UNGC), aligning Liberty Global with universal sustainability principles.

*Scope 1 and 2 across the Liberty Global consolidated group since 2019. Scope 1 emissions are direct greenhouse gas (GHG) emissions that occur from sources that are controlled or owned by an organization (e.g. emissions associated with fuel combustion in boilers, furnaces, vehicles). Scope 2 emissions are indirect GHG emissions associated with the purchase of electricity, steam, heat, or cooling, computed using a market-based methodology.

Mike Fries, CEO, Liberty Global, commented: “In the first year of our People Planet Progress strategy, I’m proud that we are already making a positive impact on some of the most critical issues facing society, our communities and the environment. Our commitment to ingrain sustainability and social impact into every part of our business stretches from the 100 percent recycled plastics in our entertainment and connectivity products to helping to bridge the digital divide with hundreds of thousands of customers benefitting from our affordable connectivity packages. The report showcases our track record of innovation as well as our purpose driven mindset, which helps us to focus on the matters that impact today and shape the opportunities of our future.”

ABOUT LIBERTY GLOBAL

Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is a world leader in converged broadband, video and mobile communications services. We deliver next-generation products through advanced fiber and 5G networks, and currently provide over 85 million* connections across Europe. Our businesses operate under some of the best-known consumer brands, including Sunrise in Switzerland, Telenet in Belgium, Virgin Media in Ireland, UPC in Slovakia, Virgin Media-O2 in the U.K. and VodafoneZiggo in The Netherlands. Through our substantial scale and commitment to innovation, we are building Tomorrow’s Connections Today, investing in the infrastructure and platforms that empower our customers to make the most of the digital revolution, while deploying the advanced technologies that nations and economies need to thrive.

Liberty Global's consolidated businesses generate annual revenue of more than $7 billion, while the VMO2 JV and the VodafoneZiggo JV generate combined annual revenue of more than $18 billion.**

Liberty Global Ventures, our global investment arm, has a portfolio of more than 75 companies and funds across the content, technology and infrastructure industries, including stakes in companies like ITV, Televisa Univision, Plume, AtlasEdge and the Formula E racing series.

* Represents aggregate consolidated and 50% owned non-consolidated fixed and mobile subscribers. Includes wholesale mobile connections of the VMO2 JV and B2B fixed subscribers of the VodafoneZiggo JV.

** Revenue figures above are provided based on full year 2023 Liberty Global consolidated results and the combined as reported full year 2023 results for the VodafoneZiggo JV and full year 2023 U.S. GAAP results for the VMO2 JV.

Sunrise, Telenet, the VMO2 JV and the VodafoneZiggo JV deliver mobile services as mobile network operators. Virgin Media Ireland delivers mobile services as a mobile virtual network operator through third-party networks. UPC Slovakia delivers mobile services as a reseller of SIM cards.

Liberty Global Ltd. is listed on the Nasdaq Global Select Market under the symbols "LBTYA", "LBTYB" and "LBTYK".

View source version on businesswire.com: https://www.businesswire.com/news/home/20240812123995/en/

For more information, please visit www.libertyglobal.com or contact:

Investor Relations

Michael Bishop +44 20 8483 6246

Bethany Cannon +44 7714 657 776

Corporate Communications

Bill Myers +1 303 220 6686

Matt Beake +44 20 8483 6428

Source: Liberty Global Ltd.

FAQ

What is Liberty Global's target for women in its workforce by 2025?

Liberty Global aims to have 45% women in its workforce by the end of 2025.

How much has Liberty Global (LBTYA) reduced its carbon emissions since 2019?

Liberty Global has reduced its direct carbon emissions (Scope 1 & 2) by 28% since 2019.

What percentage of renewable electricity does Liberty Global procure?

Liberty Global procures 92% renewable electricity across its consolidated group.

How many devices has Liberty Global refurbished for a second life?

Liberty Global has refurbished over 600,000 devices for a second life.

What is Liberty Global's (LBTYA) current CDP rating?

Liberty Global has increased its CDP (formerly Carbon Disclosure Project) rating to a B grade.