Ericsson joins Government of Canada initiative on the road to net-zero

• Global 5G leader to join Environment and Climate Change Canada's (ECCC) Net-Zero Challenge program aimed at reducing GHG emissions in cooperation with private sector companies.

TORONTO, April 22, 2024  /CNW/ --Ericsson Canada (NASDAQ: ERIC) is proud to celebrate Earth Day today by announcing that it has joined Environment and Climate Change Canada's Net-Zero Challenge program. The Net-Zero Challenge is an initiative that aims to encourage businesses operating in Canada to develop and implement credible and effective plans to transition their facilities and operations to net-zero emissions by 2050.

"As part of our commitment to advancing our climate action initiatives here in Canada and around the globe, we are thrilled to join the Government of Canada's Net-Zero Challenge," says Jeanette Irekvist, President, Ericsson Canada. "As a technology leader with a strong foundation in research and development, we understand our climate impacts and the importance of limiting global warming to 1.5°C. Our climate commitment already extends throughout our value chain, committing to become net-zero by 2040, and we look forward to joining the momentum of this program."

5G networks are the technological backbone of society and represent an opportunity to digitalize industries and significantly reduce global CO2 emissions. Through energy efficient network solutions, Ericsson is acting as a key enabler in reducing emissions, for not only its industry, but the many energy-intensive industries that its customers operate in. While the Information and Communications Technology (ICT) sector is responsible for only 1.4 per cent of the global carbon footprint, it has the potential to enable a 15-20 per cent reduction of emissions across industries by 2030 through connectivity solutions.

"We've received an incredible response from the private sector since the Net-Zero Challenge was launched in August 2022, with over 180 companies participating to date," said the Honourable Steven Guilbeault, Minister of Environment and Climate Change. "In committing to net-zero, leading companies like Ericsson are taking action now to help safeguard Canada's environment for our children and grandchildren. Together, the participants of the Net-Zero Challenge are stimulating innovation, demonstrating corporate responsibility, and ensuring their long-term competitiveness in a decarbonizing global economy. I encourage all businesses with net-zero ambitions to join the Challenge!"

Through a rigorous and credible framework, the Net-Zero Challenge promotes net-zero planning that supports businesses to achieve their climate goals ? including Ericsson Canada's customers and partners. However, reaching net-zero can only be attained with collaboration across all sectors of the economy.

Added Irekvist: "We are already working with countless other extraordinary organizations across all sectors to continue to press ahead with the transformational change needed to meet our collective sustainability goals. We're confident in the goals we have laid down and are committed to helping both our customers and Canada achieve notable success in this vital space."

This announcement reinforces Ericsson's dedication to achieving net-zero emissions across our entire value chain by 2040  and supporting Canada's commitment to achieve net-zero emissions by 2050. Ericsson is committed to supporting the deployment of smart, sustainable 5G networks that provide high performance with a lower carbon footprint. We are driving our global innovation in network sustainability through our investments in R&D here in Canada, and a research partnership with Environment and Climate Change Canada and ÉTS, Concordia and Polytechnique that is already exploring how AI can help the telecom sector and Canada and the world's climate action goals.

Ericsson Canada has played a vital role in the country's innovation ecosystem for more than 70 years, including supporting communications service providers through every generation of mobile communication. Ericsson Canada is also a partner in the national ecosystem network aimed at fostering 5G adoption and collaboration in Canada.

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Ericsson enables communications service providers to capture the full value of connectivity. The company's portfolio spans the business areas Networks, Cloud Software and Services, Enterprise Wireless Solutions, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

SOURCE Ericsson Canada