December 11 (Renewables Now) - Spanish telecommunications company Telefonica SA (BME:TEF) has committed to consuming 100% renewable electricity by 2030 and set new emissions targets going forward.
The company said it reached its 2020 emissions, energy efficiency and renewable energy goals two years early, in 2018. It now pledges to become carbon-neutral by 2050, Telefonica CEO Angel Vila announced at the UN Climate Change Conference (COP25) in Madrid on Wednesday.
The target for renewables has been pushed to 85% of power consumption by 2025 and 100% by 2030. In 2018, Telefonica reached a 58% share of renewables in its electricity consumption, surpassing the 50% goal for 2015-2020.
The company said it will also seek to halve its carbon dioxide (CO2) emissions by 2025 and cut them by 70% by 2030 until it reached carbon neutrality in 2050.
Vila highlighted that Telefonica’s energy consumption per unit of traffic had been greatly reduced thanks to the company’s investments in new technologies and the transformation of its networks.