Crown Castle Inc. (CCI): Análisis PESTLE [Actualizado en Ene-2025]

En el paisaje en constante evolución de la infraestructura de telecomunicaciones, Crown Castle Inc. (CCI) se encuentra en la encrucijada de la innovación tecnológica y la expansión estratégica. A medida que las redes inalámbricas continúan remodelando nuestro ecosistema digital, este análisis de mano presenta la compleja red de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que impulsan la estrategia comercial de CCI. Del despliegue de 5G Redes para la intrincada danza del cumplimiento regulatorio, Crown Castle navega por un terreno multifacético que promete desafíos y oportunidades sin precedentes en el mercado de infraestructura de telecomunicaciones.

Crown Castle Inc. (CCI) - Análisis de mortero: factores políticos

La política federal de telecomunicaciones impacta la implementación de infraestructura

La Ley de Telecomunicaciones de 1996 continúa dando forma a las regulaciones de implementación de infraestructura. A partir de 2024, la FCC ha asignado $ 9.23 mil millones para la expansión de banda ancha rural a través del Fondo Rural de Oportunidades Digitales (RDOF).

Área de política	Impacto regulatorio	Asignación de inversión
Banda ancha rural	Expansión de la infraestructura	$ 9.23 mil millones (RDOF)
Implementación de 5G	Asignación de espectro	$ 81.17 mil millones (2022-2024 Subastas de espectro)

Las regulaciones de la FCC influyen en los acuerdos de arrendamiento de células pequeñas y torres

La Orden de la FCC 19-66 continúa racionalizando el despliegue de celda pequeña estandarizando las regulaciones locales.

• Tasas promedio de arrendamiento de celdas pequeñas: $ 1,200 - $ 2,500 por sitio anualmente
• Tiempos de permisos municipales reducidos de 90 a 60 días
• Tarifas de apego estandarizadas entre jurisdicciones

Cambios potenciales en la asignación del espectro

Las subastas de espectro de la banda de 3.45 GHz y C han generado una actividad regulatoria significativa.

Banda de espectro	Ingresos por subastas	Año de asignación
3.45 GHz	$ 22.5 mil millones	2022
Banda c	$ 81.17 mil millones	2021

Incentivos de inversión de infraestructura gubernamental

La Ley de Inversión y Empleos de Infraestructura proporciona fondos sustanciales para la infraestructura de telecomunicaciones.

• Inversión total de infraestructura de banda ancha: $ 65 mil millones
• Financiación del programa de capital digital: $ 2.75 mil millones
• Programa de conectividad de banda ancha tribal: $ 2 mil millones

Crown Castle Inc. (CCI) - Análisis de mortero: factores económicos

Las fluctuaciones de la tasa de interés impactan en el rendimiento de REIT

A partir del cuarto trimestre de 2023, la tasa de fondos federales se mantuvo en 5.33%. La deuda total de Crown Castle se situó en $ 11.5 mil millones, con una tasa de interés promedio de 4.1% en su cartera de deuda. El gasto de interés de la compañía para 2023 fue de $ 564 millones.

Métrico	Valor	Año
Deuda total	$ 11.5 mil millones	2023
Tasa de interés de deuda promedio	4.1%	2023
Gasto de interés	$ 564 millones	2023

Tendencias de gastos de capital de transporte inalámbrico

Gastos de capital de los principales operadores inalámbricos para 2023:

• Verizon: $ 17.8 mil millones
• AT&T: $ 21.4 mil millones
• T-Mobile: $ 13.6 mil millones

Transportador	Gasto de capital	Año
Verizon	$ 17.8 mil millones	2023
AT&T	$ 21.4 mil millones	2023
T-Mobile	$ 13.6 mil millones	2023

Crecimiento económico e infraestructura de telecomunicaciones

Tasa de crecimiento del PIB de EE. UU.: 2.5% en 2023. La inversión en infraestructura de telecomunicaciones alcanzó los $ 78.3 mil millones en 2023.

Indicador económico	Valor	Año
Tasa de crecimiento del PIB de EE. UU.	2.5%	2023
Inversión de infraestructura de telecomunicaciones	$ 78.3 mil millones	2023

Impacto potencial en la recesión en la infraestructura de la red

Ingresos de Crown Castle para 2023: $ 6.8 mil millones. Los posibles escenarios de recesión muestran una reducción de ingresos potenciales del 5-7% basado en patrones históricos de recesión económica.

Métrica financiera	Valor	Año
Ingresos totales	$ 6.8 mil millones	2023
Reducción de ingresos potenciales	5-7%	Proyectado

Crown Castle Inc. (CCI) - Análisis de mortero: factores sociales

El aumento de la cultura laboral remota impulsa un mayor consumo de datos móviles

Según Statista, la adopción del trabajo remoto aumentó del 17% en 2019 al 44% en 2023. El consumo de datos móviles creció un 47% año tras año, llegando a 49.4 exabytes en 2023.

Año	Porcentaje de trabajo remoto	Consumo de datos móviles (exabytes)
2019	17%	33.6
2023	44%	49.4

La creciente dependencia de la conectividad digital crea demanda de infraestructura

El informe anual de Internet de Cisco indica que los usuarios globales de Internet llegarán a 5.3 mil millones para 2024, lo que representa el 66% de la población mundial.

Año	Usuarios globales de Internet	Porcentaje de población
2024	5.300 millones	66%

Las tendencias de la urbanización admiten la implementación de la red de células pequeñas

Proyectos del Departamento de Asuntos Económicos y Sociales de la ONU 68.4% población urbana global para 2024, impulsando los requisitos de infraestructura de células pequeñas.

Año	Porcentaje de población urbana	Población urbana total
2024	68.4%	5.200 millones

El aumento de la penetración de teléfonos inteligentes aumenta las necesidades de infraestructura de telecomunicaciones

GSMA Intelligence informa que las conexiones globales de teléfonos inteligentes llegaron a 6.4 mil millones en 2023, proyectados para aumentar a 7.1 mil millones para 2025.

Año	Conexiones para teléfonos inteligentes	Crecimiento año tras año
2023	6.4 mil millones	5.2%
2025 (proyectado)	7.1 mil millones	10.9%

Crown Castle Inc. (CCI) - Análisis de mortero: factores tecnológicos

El despliegue de la red 5G requiere extensas inversiones de infraestructura

Crown Castle invirtió $ 3.4 mil millones en infraestructura en 2023. La compañía posee 40,000 torres celulares en los Estados Unidos. El despliegue de infraestructura 5G requiere aproximadamente $ 1.5 billones en inversiones de redes globales hasta 2025.

Categoría de inversión tecnológica	2023 Gastos	Crecimiento proyectado
Infraestructura 5G	$ 1.8 mil millones	Aumento anual del 12,5%
Despliegues de celdas pequeñas	$ 620 millones	Aumento anual del 15,3%
Expansión de la red de fibra	$ 980 millones	Aumento anual de 10.2%

Edge Computing impulsa la demanda de infraestructura de red distribuida

Se espera que Global Edut Computing Market alcance los $ 61.14 mil millones para 2028. Crown Castle opera 75,000 millas de ruta de infraestructura de fibra que respaldan los requisitos de informática de borde.

La expansión de Internet de las cosas (IoT) requiere soluciones de conectividad mejoradas

Los dispositivos conectados de IoT proyectados para llegar a 29 mil millones en todo el mundo para 2030. Crown Castle admite la infraestructura IoT a través de 70,000 nodos celulares pequeños en las principales áreas metropolitanas.

Métricas de conectividad IoT	2023 rendimiento	2024 proyección
Nodos celulares pequeños	70,000	85,000
Ancho de banda de conectividad de IoT	500 TBPS	750 tbps

Las tecnologías inalámbricas emergentes requieren actualizaciones continuas de infraestructura

Crown Castle asignó $ 2.2 mil millones para mejoras de infraestructura tecnológica en 2023. La evolución de la tecnología inalámbrica exige una inversión de capital continuo estimada en 8-12% de los ingresos anuales.

Categoría de actualización de tecnología	2023 inversión	Enfoque tecnológico
5G Infraestructura avanzada	$ 1.4 mil millones	MMWave y Sub-6 GHz Spectrum
Redes inalámbricas privadas	$ 380 millones	Soluciones de conectividad empresarial
Virtualización de red	$ 420 millones	Redes definidas por software

Crown Castle Inc. (CCI) - Análisis de mortero: factores legales

Contratos de arrendamiento complejos con transportistas inalámbricos

Estadísticas de contrato de arrendamiento:

Métrico	Valor	Año
Ingresos totales de arrendamiento	$ 5.98 mil millones	2023
Duración promedio de arrendamiento	5-10 años	2024
Número de contratos de transportista inalámbricos	40,000+	2023

Impacto en las regulaciones de zonificación

Métricas de cumplimiento de zonificación:

Jurisdicción	Tasa de aprobación de permisos	Tiempo de procesamiento promedio
Áreas urbanas	68%	4-6 meses
Áreas suburbanas	82%	2-3 meses
Zonas rurales	55%	6-9 meses

Políticas de subastas de espectro

Datos de asignación de espectro recientes:

• Ingresos de subasta de espectro FCC 5G: $ 81.17 mil millones (2020-2022)
• Bandas de espectro asignadas: 3.45 GHz, 3.7-3.98 GHz, 24 GHz
• Inversiones de infraestructura de Crown Castle: $ 350 millones (2023)

Regulaciones de infraestructura de telecomunicaciones

Métricas de cumplimiento regulatorio:

Categoría de regulación	Tasa de cumplimiento	Costo de cumplimiento anual
Regulaciones de la FCC	99.7%	$ 42.5 millones
Leyes de telecomunicaciones a nivel estatal	98.5%	$ 22.3 millones
Cumplimiento ambiental	97.2%	$ 18.7 millones

Crown Castle Inc. (CCI) - Análisis de mortero: factores ambientales

Las iniciativas de energía verde influyen en el consumo de energía de la infraestructura

Crown Castle Inc. reportó 51.8% de uso de energía renovable en su infraestructura en 2022. La compañía invirtió $ 24.3 millones en mejoras de eficiencia energética para torres de telecomunicaciones en 2023.

Año	Porcentaje de energía renovable	Inversión de eficiencia energética
2022	51.8%	$ 18.7 millones
2023	57.2%	$ 24.3 millones

La adaptación del cambio climático requiere infraestructura de red resistente

Crown Castle ha asignado $ 42.6 millones para mejoras de infraestructura de resiliencia climática en 2024. La compañía identificó 387 ubicaciones de torres de alto riesgo que requieren medidas mejoradas de protección ambiental.

Métrica de resiliencia climática	2024 inversión	Ubicaciones de alto riesgo
Actualizaciones de infraestructura	$ 42.6 millones	387 sitios

El diseño de torre sostenible y la eficiencia energética se vuelven críticas

El castillo de la corona redujo las emisiones de carbono en un 22.7% en 2023 en comparación con la línea de base 2020. La compañía implementó sistemas de respaldo con energía solar en 612 sitios de telecomunicaciones.

• Reducción de emisiones de carbono: 22.7%
• Sitios de energía solar: 612
• Ahorro anual de energía: 4.3 millones de kWh

Las regulaciones ambientales impactan el desarrollo y el mantenimiento de la infraestructura

Los costos de cumplimiento para las regulaciones ambientales alcanzaron los $ 17.9 millones en 2023. La compañía invirtió $ 31.5 millones en la cumplimiento de los estándares ambientales a nivel estatal para el desarrollo de infraestructura.

Métrico de cumplimiento regulatorio	2023 Gastos
Cumplimiento de la regulación ambiental	$ 17.9 millones
Normas ambientales de infraestructura	$ 31.5 millones

Crown Castle Inc. (CCI) - PESTLE Analysis: Social factors

You're looking at the societal shifts that are fundamentally changing how wireless carriers build out their networks, which directly impacts Crown Castle Inc.'s long-term revenue stability. The sheer volume of data people are pulling down is staggering, and it's not slowing down. North American smartphone data consumption is projected to hit an average of about 23 GB per month for the average user in 2025, up significantly from just a few years ago. This isn't just about scrolling; it's about high-bandwidth activities like 4K streaming and constant cloud access for work.

The persistent trend of remote work, even as offices reopen, means people expect flawless connectivity everywhere, not just downtown. Also, the appetite for rich media is insatiable. It's a massive tailwind for tower utilization.

The data demand curve is still pointing up.

Increased remote work and streaming drive demand for network capacity and density

Honestly, the shift in how we use our devices is the primary engine for Crown Castle Inc.'s core tower business. When people work from home, they aren't just using Wi-Fi; they are constantly offloading traffic to the macro network for video conferencing and large file transfers. This forces carriers to densify their networks, which means more tenants on existing Crown Castle Inc. towers or the need for new sites down the road.

We see this reflected in usage patterns. For instance, in markets with widespread 5G, average mobile data usage per person is already hitting around 18 GB/month in 2025, driven by these high-quality applications. This continuous need for capacity means the capital expenditure decisions made by T-Mobile, AT&T, and Verizon-your main customers-are directly tied to these social habits.

More streaming equals more rent checks.

Focus on digital equity requires infrastructure expansion into underserved communities

There's a growing social and political push to close the digital divide, which is a real opportunity for infrastructure providers like Crown Castle Inc. It's not just about urban centers anymore; regulators and communities are demanding better service in rural and lower-income areas. What this estimate hides is the segment that relies entirely on mobile for digital life.

Here's the quick math: In the U.S., as of 2025, about 14% of households are considered smartphone-dependent, meaning they lack traditional home broadband and rely solely on mobile data for everything from job searches to telehealth. This demographic needs reliable, high-quality macro-cell coverage, which is exactly what Crown Castle Inc.'s tower assets provide.

Closing the gap isn't optional; it's policy.

The shared infrastructure model is cited for enabling greater access to connectivity

The very nature of Crown Castle Inc.'s business-sharing tower space with multiple tenants-is viewed socially as an efficient way to deploy capital for broad coverage. Instead of every carrier building its own tower, the shared model accelerates the deployment of necessary infrastructure, which helps meet those digital equity goals faster. This is why the strategic pivot to focus purely on the U.S. tower business, divesting the fiber and small cell segment for $8.5 billion, makes sense from a pure-play infrastructure perspective.

The tower model is the proven, scalable backbone for this national connectivity mandate. It's a model that inherently supports the social goal of widespread access.

Towers are the foundation of the connected society.

To put some of these usage trends into perspective, here is a snapshot of related digital consumption metrics:

Metric	Value (2025 Estimate/Data Point)	Source Context
Average Global Mobile Data Usage	23 GB per month	General user consumption benchmark
Average 5G Market Mobile Data Usage	18 GB per month	Usage in markets with advanced 5G networks
U.S. Smartphone-Dependent Households	14% of households	Reliance on mobile for primary internet access
U.S. Mobile Internet Traffic Share	57.58% of internet traffic	Traffic originating from mobile sources in North America
Crown Castle Inc. Tower Sites (2024 Base)	Over 40,000 towers	Core asset base driving shared infrastructure revenue

These social trends translate into clear operational demands for Crown Castle Inc. You need to watch how carrier leasing activity responds to these usage spikes, especially in the macro tower segment now that the focus is narrowed.

• Watch for carrier commitments on existing towers.
• Monitor rural build-out subsidies impacting site placement.
• Track public sentiment on digital access parity.
• Evaluate the impact of new device adoption rates.

Finance: draft 13-week cash view by Friday.

Crown Castle Inc. (CCI) - PESTLE Analysis: Technological factors

You're looking at the tech landscape for Crown Castle Inc. (CCI) right now, and the story is all about focus. The big move this year is shedding the fiber and small cells businesses to become a pure-play U.S. tower company. This isn't just shuffling assets; it's a deliberate choice to concentrate capital where the most predictable, long-term growth is-the macro towers.

5G deployment remains the primary, multi-year driver for tower leasing activity

Honestly, 5G is still the engine driving tower leasing for Crown Castle Inc. Carriers are deep into fortifying their networks with new spectrum and equipment, and most of the work happening on their existing sites involves 5G overlays. This sustained activity is why Crown Castle kept raising its expectations; they now project 4.7% organic growth in site rental billings for the full year 2025, up from an earlier 4.5% forecast, excluding the Sprint consolidation churn. That's the core business humming along nicely, providing the foundation for the next phase of wireless.

Here's the quick math on their tower business health:

• Projected 2025 Tower Organic Growth: 4.5% (excluding Sprint churn)
• Revised 2025 Site Rental Billings Organic Growth: 4.7%
• Number of U.S. Towers in Core Portfolio: Approximately 40,000

The demand is definitely there, even if the pace is normalizing after the initial carrier buildout frenzy. It's a multi-year story, not a one-and-done event.

Mobile data demand is growing at an estimated 20% to 30% annually

The sheer volume of data people and machines are chewing through is staggering, and that's what underpins the entire tower business model. Crown Castle Inc.'s CFO noted that mobile data demand growth has consistently been in the 20% to 30% range annually over the past decade. This isn't just a guess; global projections back this up, with mobile data traffic forecast to grow at a Compound Annual Growth Rate (CAGR) of about 29.5% between 2023 and 2028. So, even with the strategic pivot, the underlying secular trend-more data consumption-is strong, which means carriers must keep densifying their networks, requiring more tower space.

The strategic pivot focuses the business on core tower assets, selling fiber and small cells

To be fair, the fiber and small cell segments required a different kind of capital and operational muscle, which is why Crown Castle Inc. agreed to sell them off for a combined $8.5 billion in March 2025. This move solidifies them as the only public pure-play U.S. tower company. The proceeds are earmarked for financial housekeeping: paying down debt and funding an approximately $3.0 billion share repurchase program. This focus change also led to an immediate action: the annualized dividend was cut to about $4.25 per share starting in the second quarter of 2025. It's a trade-off: less complex growth for more predictable, focused tower cash flow.

Artificial intelligence (AI) is seen as a potential long-term catalyst for massive data growth

Now, let's talk about the next big thing: AI. While Crown Castle Inc. management says they are still in the very early stages and haven't seen a direct impact on mobile data yet, the potential is huge. Analysts are watching this closely because AI-driven applications, especially those requiring real-time data exchange like AR/VR, are expected to put significant strain on uplink capacity, potentially exceeding current 5G capacity by 2027. The GSMA data suggests AI could add an extra 20% to 80% in traffic beyond current forecasts, depending on how fast it's adopted. For instance, Zayo, which is buying the fiber assets, already has $3 billion in AI-related deals in their pipeline as of early 2025. This means that while the pivot de-risks the near-term by focusing on towers, the long-term data demand story-which towers will benefit from-is only getting louder thanks to AI.

Here is a snapshot of the tech landscape impact:

Technology Driver	2025 CCI Tower Outlook Impact	Related Data Point
5G Deployment	Primary driver for leasing activity and organic growth	Projected 4.7% organic growth in site rental billings
Mobile Data Demand	Sustains need for network densification	Historical growth rate of 20% to 30% annually
AI Integration	Potential long-term catalyst for future data spikes	AI could add 20% to 80% additional traffic beyond forecasts
Strategic Divestiture	Focuses capital on core, stable tower assets	Sale of Fiber/Small Cells for $8.5 billion

Finance: draft 13-week cash view by Friday

Crown Castle Inc. (CCI) - PESTLE Analysis: Legal factors

You're navigating a complex regulatory landscape right now, especially with that massive fiber asset sale underway. The legal environment directly shapes your capital structure, M&A activity, and operational security requirements. Let's break down the key legal factors affecting Crown Castle Inc. as we look toward 2026.

Sale of the Fiber business is subject to regulatory approvals, including the Department of Justice (DOJ)

The agreement to sell the Fiber Solutions business to Zayo for approximately $4.25 billion-part of the total $8.5 billion transaction for the entire Fiber segment-is not a done deal yet. This deal, announced in March 2025, is explicitly contingent on receiving required government and regulatory approvals, which definitely includes the Department of Justice (DOJ) review for antitrust concerns. Honestly, while the deal is expected to close in the first half of 2026, any holdup at the federal level, especially with the DOJ, can push that timeline. We are already seeing state-level regulatory steps, like the New Jersey Board of Public Utilities review in late 2025, which shows the administrative complexity involved in transferring these assets into the new holding structure, Fiber NewCo.

Here are the key components of that strategic divestiture:

Asset Sold	Buyer	Approximate Value	Status/Timeline
Fiber Solutions Business	Zayo Group Holdings Inc.	$4.25 billion	Subject to regulatory approval; expected close H1 2026
Small Cells Business	EQT Active Core Infrastructure fund	$4.25 billion	Subject to regulatory approval; expected close H1 2026
Total Fiber Segment Sale	Combined	$8.5 billion	Expected to result in a total loss of between $700 million and $900 million for full-year 2025 due to the classification as held for sale.

Compliance with complex Real Estate Investment Trust (REIT) requirements limits financial flexibility

Being a Real Estate Investment Trust means you live and die by the IRS rules, and that really constrains your financial maneuvering room. The big one, as always, is the 90% distribution requirement-you have to pass nearly all your taxable income through to shareholders as dividends. Complying with this, and the associated ownership limitations, can force Crown Castle Inc. to forgo attractive discretionary investments or financing alternatives that might otherwise make sense for the business. To manage this while funding the planned $3.0 billion share repurchase program post-sale, the company signaled a reduction in its annualized dividend to approximately $4.25 per share starting in the second quarter of 2025. This move is a direct consequence of needing to balance shareholder returns with strict REIT payout mandates.

Federal efforts are underway to streamline state and local permitting processes for infrastructure

While most of your site acquisition headaches happen at the state and local level, the federal government is making noise about making things easier, which is a positive trend. For instance, the July 2025 Executive Order, Accelerating Federal Permitting of Data Center Infrastructure, targets large projects-those requiring over 100 megawatts (MW) of new load or involving at least $500 million in capital expenditures. This signals a general federal desire to cut red tape for critical digital infrastructure. Furthermore, legislation like the ePermit Act, which passed a House Committee in late 2025, aims to modernize federal environmental review with digital portals. If these federal efforts gain traction, they might pressure state and local agencies to adopt similar efficiencies, helping to speed up the site acquisition cycle times you are trying to automate.

FCC's rollback of the CALEA (Communications Assistance for Law Enforcement Act) interpretation impacts carrier cybersecurity compliance

This is a fascinating regulatory reversal that impacts your customers, and by extension, you. The FCC, under new leadership, voted 2-1 to rescind a January 2025 Declaratory Ruling that had interpreted the Communications Assistance for Law Enforcement Act (CALEA) as legally requiring telecom carriers to secure their networks against unlawful access. That initial ruling came in response to the massive Salt Typhoon espionage campaign that hit major carriers. The new majority argued the January interpretation was too broad and inflexible, favoring a voluntary, collaborative approach instead of mandated risk-management plans and annual certifications. For Crown Castle Inc., this means the baseline security expectations for your carrier tenants might remain less prescriptive than they were for a few weeks in early 2025. You definitely need to watch if law enforcement or CISA push for targeted hardening rules outside of CALEA, especially around lawful intercept and core routing systems, because those are the assets your tenants operate on your towers.

The key shifts in the cybersecurity posture are:

• Prior interpretation: Mandatory security duty under CALEA Section 105.
• Current stance: Reliance on voluntary industry cooperation.
• Driver: Perceived inflexibility of the January 2025 mandate.
• Risk: Uneven security maturity across the carrier base.

It's a definite shift away from a one-size-fits-all mandate. Finance: draft 13-week cash view by Friday.

Crown Castle Inc. (CCI) - PESTLE Analysis: Environmental factors

You're looking at how Crown Castle Inc. (CCI) is managing its environmental footprint, and honestly, the progress toward its $\text{2025}$ goals is quite tangible, especially on the energy front.

The key takeaway here is that CCI is positioned to hit its near-term carbon neutrality target while its core asset strategy is structurally aligned with resource efficiency.

Goal to be carbon neutral in Scope 1 and 2 emissions for 2025 is over three-quarters complete

The commitment to be carbon neutral across Scope 1 (direct emissions) and Scope 2 (purchased electricity) emissions by $\text{2025}$ is looking achievable, which is a strong signal to the market. As of the $\text{2024}$ reporting period, the company stated it was over three-quarters of the way to hitting that $\text{2025}$ goal. This progress isn't just about offsets; it's driven by real operational changes, like upgrading lighting systems.

To be defintely clear on the operational side, by the end of $\text{2024}$, CCI had converted approximately 63% of its lit towers to energy-efficient LED lighting. That's a concrete reduction in energy demand right there.

93% of 2024 electricity consumption was sourced from renewable energy contracts

This is perhaps the most impressive near-term metric. For the $\text{2024}$ fiscal year, CCI sourced 93% of its total electricity consumption through multiyear renewable energy contracts. Here's the quick math on that: they contracted for 144,193 MWh of renewable energy against a reported $\text{2024}$ annual consumption of 155,665 MWh. That heavy reliance on renewables directly supports the Scope 2 emissions reduction needed for the $\text{2025}$ neutrality target.

What this estimate hides is the remaining 7% gap, which management is likely closing through further procurement or offsets as they push toward the $\text{100%}$ renewable energy goal for $\text{2025}$.

The multi-tenant model is inherently sustainable, using fewer resources than single-tenant builds

You know that the core of CCI's business model-building one tower and leasing space to multiple carriers (colocation)-is a structural environmental advantage. It means fewer physical sites are needed overall to serve the same amount of connectivity demand. This shared infrastructure approach naturally reduces the use of materials, land, and energy compared to a scenario where every major carrier built its own separate infrastructure.

We can map this difference out simply:

Factor	Multi-Tenant Model (CCI)	Single-Tenant Build (Hypothetical)
Resource Use	Fewer resources used (build once, serve many)	Uses more resources than multi-tenant model
Environmental Footprint	Reduces environmental footprint	Greater impact on environment
Speed to Market	Improves speed to market	Slower deployment for individual carriers
Customer Cost	Decreases costs for customers	Higher individual build/maintenance costs

Still, the company is actively divesting its small cells and fiber solutions business, announced in March $\text{2025}$, which will further concentrate its environmental focus on the tower portfolio.

Climate scenario analysis shows the tower portfolio is resilient to physical climate risks

When we look at long-term physical risks, like extreme weather, CCI has taken a proactive step by running quantitative climate scenario modeling. This analysis, conducted by a third party and aligned with the Task Force on Climate-Related Financial Disclosures (TCFD) framework, assessed the portfolio against nine physical hazards across four different climate scenarios. The finding is reassuring: the tower portfolio is deemed resilient under these assessed scenarios, with estimated financial impacts expected to be minor in the short-, medium-, or long-term.

This resilience is built in through engineering, but the company also backs it up with operational checks:

• Performed nearly 128,000 structural engineering assessments over five years.
• Completed nearly 52,000 site inspections in $\text{2024}$.
• For the three years ending $\text{2024}$, annual repair/maintenance expense from extreme weather was only about 0.02% of the $\text{2024}$ property and equipment value of $\text{\$30}$ Billion.

Finance: draft $\text{13}$-week cash view by Friday.