Press Releases

Magyar Telekom sustainability practice continues to impress responsible investors

Budapest, February 23, 2021 15:00

Two different independent assessments ranked Magyar Telekom high based on its sustainability practice. FTSE Russell (FTSE International Limited and Frank Russell Company) confirmed that in course of the independent assessment conducted along the FTSE4Good criteria, Magyar Telekom met the requirements based on which it remains to be part of the FTSE4Good index family. At the same time, a CDP Supplier Engagement Rating (SER) ranked Magyar Telekom to be in the top 7%, being the only telco based in Hungary in that range.

The FTSE4Good indices established by FTSE Russel measure the performance of companies whose environmental, social and governance efforts are recognized to be outstanding. The indices play an important role, as a wide range of market players use them when establishing or assessing responsible investment funds and other products. Magyar Telekom has been a part of the FTSE4Good Emerging Index since its start in 2016, and is now confirmed to stay so by FTSE Russel’s year-2020 assessment.

It has also been at the beginning of the year that Carbon Disclosure Project (CDP) informed Magyar Telekom about the results of its assessment, based on which the company had been ranked to be among the world’s top 7% based on its supplier program addressing climate change. CDP is an international non-profit group, which helps investors, companies, states and regions to manage their environmental footprints. According to the organization, in the next five years, the environmental risks associated with companies’ supplier chains expose them to a financial risk of USD 120 billion in potential costs, as the organization estimates that in general the emission of a supplier chain is 11.4 times as much as the emission of the specific company’s own operations. That is the very reason why the organization urges responsible companies to control the emissions of their suppliers, too, beyond their own climate protection efforts, as well as encourages suppliers to commit themselves to supporting environmental efforts. The international list, which includes Magyar Telekom as the only Hungary-based company, was published by CDP in February.

You can read more about the responsible assessments of the company here, and access the Group’s sustainability reports here.