Le Lézard
Classified in: Environment
Subjects: Conference Call, Webcast, Statement

IHS Towers Announces Carbon Reduction Roadmap; Includes 50% Emissions Intensity Reduction Target by 2030


IHS Holding Limited (NYSE: IHS) ("IHS Towers"), one of the largest independent owners, operators, and developers of shared communications infrastructure in the world by tower count, has today announced its Carbon Reduction Roadmap.

The Carbon Reduction Roadmap provides a comprehensive strategy for decreasing IHS Towers' emissions, including a goal to reduce the Scope 1 and Scope 2 kilowatt-hour emissions intensity of its tower portfolio by 50% by 2030, using 2021 emissions data as the baseline1.

Under Project Green, the next significant step of its Carbon Reduction Roadmap, the company expects to spend $214 million in capex towards these efforts between 2022 and 2024, and to deliver annual Recurring Levered Free Cash Flow (RLFCF) savings of $77 million in 2025. This, in turn, is expected to generate an implied return on investment of 30%.

As a result, and as previously mentioned in second quarter results, IHS Towers is raising its 2022 capex guidance. The company now expects to spend $645-685 million (previously $545-585 million), including $110 million of the $214 million spent for Project Green, as it is also taking this opportunity to narrow its former range based on actual spend year-to-date.

Savings will be achieved by connecting more sites to the electricity grid and via the deployment and integration of battery storage and solar panel solutions. In scope for Project Green are IHS Towers' operations in Cameroon, Côte d'Ivoire, Kuwait, Nigeria, Rwanda, and Zambia where reliance on diesel generators has been traditionally greater.

Sam Darwish, IHS Towers Chairman & CEO, commented "We believe that our business model is inherently sustainable in that we deliver shared infrastructure solutions in emerging markets that promote digital connectivity and inclusion and improve the lives of the communities we serve. However, I believe that the true benefits of mobile connectivity can only be realized if we and our sector continue to develop in a socially and environmentally responsible manner. Our Carbon Reduction Roadmap is the next step in our journey to reduce our carbon footprint by setting tangible emissions targets."

IHS Towers has also taken this opportunity to revise its corporate values and incorporate a new fifth Sustainability value that focuses on health and safety, security, and the environment, to ensure that these topics are further embedded throughout the business. These values are our guiding principles that help foster teamwork and ensure we achieve our shared business goals.

Carbon Reduction Roadmap Webcast

Additionally, a conference call and webcast to discuss the Carbon Reduction Roadmap will take place today, October 24, at 10.00am ET (3pm UK time).

The conference call dial-in numbers are +1 (646) 307-1963 (US) or +44 20 3481 4247 (UK/International). The call ID is 4777557.

To register for the webcast please click here.

The Carbon Reduction Roadmap is available to download via the IHS Towers website here.

Cautionary statement regarding forward-looking Information

This press release contains forward-looking statements. We intend such forward-looking statements to be covered by relevant safe harbor provisions for forward-looking statements (or their equivalent) of any applicable jurisdiction, including those contained in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts contained in this press release may be forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expects," "plans," "anticipates," "could," "intends," "targets," "projects," "contemplates," "believes," "estimates," "forecast," "predicts," "potential" or "continue" or the negative of these terms or other similar expressions. Forward-looking statements contained in this press release include, but are not limited to statements regarding our future results of operations and financial position, including our anticipated results for the fiscal year 2022, industry and business trends, business strategy, plans, market growth and our objectives for future operations.

We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. Forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to:

The forward-looking statements in this press release are based upon information available to us as of the date of this press release, and while we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all potentially available relevant information. These statements are inherently uncertain and investors are cautioned not to unduly rely upon these statements. You should read this press release and the documents that we reference in this press release with the understanding that our actual future results, performance and achievements may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements. These forward-looking statements speak only as of the date of this press release. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

About IHS Towers: IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count and is the largest independent multinational towerco solely focused on the emerging markets. The Company has nearly 40,000 towers across its 11 markets, including Brazil, Cameroon, Colombia, Côte d'Ivoire, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa and Zambia. For more information, please email: [email protected] or visit: www.ihstowers.com

1 IHS will review the baseline for this target as we expand into new markets, or encompass growth, or as needed to reflect significant changes in our organization.


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