Brazilian telecommunication company Vivo announced on Wednesday it will become 100% renewable before the end of November 2018, having agreed to purchase renewable energy certificates.
With the initiative, the Brazilian subsidiary of Spain's Telefonica SA (BME:TEF) can reduce by 64% its carbon dioxide (CO2) emissions by 2020. The international group's overall goal is to reduce by 30% its carbon emissions by 2020 and 50% by 2030.
Vivo also joins the ranks of Telefonica branches in Spain, Germany and the UK, and contributes to the international group's overall goal of having all its operations supplied by renewable sources by 2030.
The Brazilian firm also announced that, together with local utility Cia Energetica de Minas Gerais SA (BVMF:CMIG4), better known as Cemig, it is stepping into the distributed generation (DG) sector with 5% of its electrical demands being meet by small hydropower systems. Subsequently, Vivo intends to have other sources such as solar as its suppliers in this regard.