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•Commits to net zero emissions by 2040
By Chukwuma Umeorah
MTN Nigeria has said it committed approximately N1.8 billion in Corporate Social Investment (CSI) programmes in 2022 demonstrating strong commitment to sustainability and growth.
This was contained in the Company’s 2022 Sustainability Report submitted to the Nigerian Exchange Group (NGX). The Report unveiled MTNN’s comprehensive Economic, Social and Governnace (ESG) scorecard for the year under review, highlighting robust strategies, commitments, and measures taken to enhance its performance in critical areas. Other key achievements by the company as highlighted by the report include improved connectivity for rural areas, driving digital and financial inclusion, academic scholarships, devcelopment programmes for host communities among others.
CEO of MTN Nigeria, Karl Olutokun Toriola, expressed his satisfaction with the company’s performance. He stated that despite recording impressive numbers, including a revenue growth of 21.5 per cent reaching N2 trillion, the company remained fully committed to upholding its ESG obligations and aligning with the United Nations Sustainable Development Goals (SDGs) and the Paris Agreement.”
“We recognize that our success goes beyond our financial performance. That is why we put the mainstreaming of Environmental, Social and Governance standards at the core of our Ambition 2025 strategy. Consequently, we ensure the responsible use and protection of the natural environment, operating in ways that benefit our customers, employees, and host communities while continually improving our corporate governance practices.”
He added, “In 2022, we invested approximately N1.8 billion in corporate social investment programmes through the MTN Nigeria Foundation, bringing our total investments to N25.7 billion since inception. In addition, we leveraged our mobile and digital services to create value for communities. That is why we have continued to expand and our distribution channels to reach the undeserved narrowing the digital divide. In 2022, we reached broadband coverage of 87.9 per cent up by 3.4 per cent from 2021. Under our rural telephony programme, we deployed 778 sites, bolstering our digital inclusion efforts.”
Toriola stressed that against the backdrop of global challenges, including the recovery from the COVID-19 pandemic and geopolitical tensions arising from Russia’s invasion of Ukraine, MTN Nigeria showcased resilience and commitment to its stakeholders.
“Furthermore, at MTN Nigeria, environmental stewardship is a core value. We have embraced the global initiative to combat climate change, as outlined in the Paris Climate Agreement. This commitment is exemplified through our Project Zero initiative, where we aspire to achieve net zero emissions by 2040. In 2022, we made notable strides in reducing emissions, with a 25 per cent decrease in scope one and two emissions compared to 2021.”
The Chairman, Board of Directors MTN Nigeria Communications Plc, Ernest Ndukwe, while commenting on the company’s ESG performance noted that the local front presented its own set of challenges, notably the destructive flooding in 2022 that affected 27 states, causing over 600 deaths and displacing 1.3 million people.
He stated that MTN Nigeria responded by intensifying its efforts to support communities through innovative services, corporate social investments, and the integration of sound ESG practices into its operations, in line with its Ambition 2025. Recognizing the need to reduce carbon footprints, we endorsed global efforts to achieve net-zero carbon emissions by 2050 and as part of its Project Zero initiative, the company is implementing measures to reach net-zero emissions by 2040, aligning with Nigeria’s Climate Change Act.
“We continued to expand our network infrastructure, enhancing our mobile and broadband connectivity and our ability to provide leading digital solutions for our valued customers. Consequently, we grew data subscribers by 15.3 per cent and digital subscribers by 37.5 per cent to 39.5 million and 10.3 million, respectively.”
According to him, the company also increased its 4G coverage by 8.8 per cent to 79.1 per cent of the population, enhancing 4G to support the rise in data traffic. “In addition, we reached another milestone in our fintech strategy, which seeks to drive digital and financial inclusion in Nigeria as our MoMo Payment Service Bank (MoMo PSB) began commercial operations in May 2022.”
