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Every year, we have to do more – Magyar Telekom publishes its sustainability report 2020

Budapest, June 30, 2021 11:00

Magyar Telekom Group’s latest Sustainability Report containing the overall performance data of the Company’s Sustainability Strategy 2016-2020 and the specific challenges of 2020, addresses digital sustainability, climate protection, equal opportunity and diversity measures.

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Despite the fact that the pandemic made everyday operations unpredictable, Magyar Telekom Group’s sustainability objectives have been achieved thus concluding the fourth five-year sustainability strategy of the group in 2020. “Though no one had anticipated the Covid pandemic, in retrospect it is clear that this latest crisis is a direct consequence of how our civilization relates to nature in general, thus underlines our collective responsibility for sustainability better than ever before,” said Magyar Telekom’s CEO Tibor Rékasi. For Magyar Telekom, this conclusion comes also as a confirmation, because, as it is clearly shown by the Report, the Company has been committed to the fastest possible achievement of the sustainability goals for years.

Looking back upon the strategic period just completed, Magyar Telekom launched its fourth sustainability strategy, titled “BE SMARTER!”, in 2016, and defined at that time the Group’s objectives in the areas of climate protection, education and digital sustainability, to which it added diversity in 2018. In 2020, digital and online solutions have assumed an even more important role, the volume of data transmitted increased to an extent never seen before, along with the time spent by users online, be that for the purposes of work, learning, keeping in touch or entertainment. Due to the restrictions imposed to combat the pandemic, the world has slowed down in general, but in certain areas, processes accelerated so that the new technologies be able to fulfill the increased demand brought about by the pandemic itself. In the first half of 2020, the Company’s gigabit network development project reached two million access points, thus enabling 45 per cent of all points of demand in Hungary to reach gigabit speeds. Another important milestone was the launch of the commercial 5G service, which went through flawlessly, even though most of the personnel was forced to work from home, and rollout started during the same year along a quite strict schedule.

By the end of 2020, Magyar Telekom Group managed to decrease its actual CO2 emissions to below the target of 100 000 tons (85 400 t CO2), and 2020 was the sixth consecutive year when the Company ran its operations carbon-neutrally, partly by fulfilling 100 per cent of its energy needs from renewing energy sources. At the same time, they wish to increase their customers’ climate awareness: in 2019, they introduced the ExtraNet Green 1 GB data extension option, which is the first fully green service on the market.

During the years encompassed by the strategy, Magyar Telekom’s educational programs, including the “Become a…” programs and the non-spot content aimed at digital education and orientation, reached more than 2.5 million people in Hungary.

In 2020, 35.6% of Magyar Telekom’s overall revenues came from products and services assessed to be of a sustainable nature, at the same time, close to 100% of the Company’s innovation spending was beneficial for the society and/or the environment last year. Magyar Telekom employees put in more than 45 000 volunteer hours across the country in the past five years, thus generating the equivalent of HUF 140 million as a contribution for the society. In addition, the Company supported the wide-spread use of digital means through more than 50 smart city and smart agriculture solutions in Hungary.

Having recognized that diversity plays an indispensable role in efficient corporate operations, the Company added a new objective to the strategy in 2018. Being a responsible employer, Telekom puts extra emphasis on anti-discrimination at the workplace, as well as strives to ensure the equal opportunity, safe and stabile career building of disadvantaged employees. As to the equal opportunity of male and female employees, it is a step forward that in the top management of the Company the ratio is 50-50%, and among management in general, 27 per cent are women.

Several international responsible investor organizations recognized Magyar Telekom Group’s sustainability efforts. The Company preserved its position in the FTSE4Good index in 2020, too, which ranks it to be among the best performers in the sector. Another outstanding achievement is the ISS ESG responsible investor assessment, which puts the Group among the three best-performing companies in the sector with a “B” Prime ranking. Assessments like that are especially important, as 45% of Magyar Telekom’s free-floated shares are held by responsible investors.

In light of the achievements of the past five years, the successful conclusion of the strategic period can also be considered a new beginning in the history of Magyar Telekom Group. In 2021, a new Sustainability Strategy will be drawn up, with new objectives, along which the Group will continue to work on bringing about a more livable and more sustainable future, supported by its solutions and operations.

You can read more about the specific achievements in the Sustainability Report.