Tim S.A. (TIMB): Analyse du Pestle [Jan-2025 Mise à jour]

Dans le paysage dynamique des télécommunications brésiliennes, Tim S.A. se dresse au carrefour des environnements réglementaires complexes, de l'innovation technologique et des demandes en évolution du marché. This comprehensive PESTLE analysis delves deep into the multifaceted factors shaping the company's strategic trajectory, revealing a nuanced interplay of political, economic, sociological, technological, legal, and environmental forces that simultaneously challenge and propel TIM's ambitious growth in one of South America's most vibrant telecommunications marchés.

Tim S.A. (TIMB) - Analyse du pilon: facteurs politiques

Cadre de réglementation des télécommunications du Brésil

Le secteur brésilien des télécommunications est réglementé par Anatel (Agence nationale de télécommunications). En 2024, les paramètres de régulation clés comprennent:

Aspect réglementaire	État actuel
Règlement sur le marché des télécommunications	Loi 9.472 / 1997 (loi générale sur les télécommunications)
Surveillance de la concurrence du marché	Surveillance active par Anatel and Administrative Council for Economic Defence (CADE)
Restrictions d'investissement étranger	Maximum 49% de propriété étrangère dans les entreprises de télécommunications

Politiques gouvernementales sur les infrastructures numériques

Les investissements d'infrastructure numérique du gouvernement brésilien se concentrent sur:

• Extension du réseau 5G
• Programme universel d'accès à large bande
• Initiatives d'inclusion numérique

Données d'enchères du spectre pour 2023-2024:

Bande de spectre	Valeur d'enchères	Exigence de couverture
700 MHz	1,1 milliard de R	95% des municipalités
3,5 GHz	2,3 milliards de R	100% des capitales de l'État

Impact de la stabilité politique

Indicateurs de stabilité politique pour le Brésil en 2024:

• Indice de stabilité politique de la Banque mondiale: -0,52
• Score d'efficacité de la gouvernance: 0,41
• Indice de perception de la corruption: 38/100

Changements de réglementation potentielles

Modifications réglementaires potentielles affectant le secteur des télécommunications:

• Législation de cybersécurité proposée
• Modifications de protection des données
• Incitations fiscales potentielles pour le développement des infrastructures numériques

Tim S.A.

Tim S.A. (TIMB) - Analyse du pilon: facteurs économiques

Les fluctuations économiques du Brésil ont un impact sur le secteur des télécommunications

Le taux de croissance du PIB du Brésil en 2023 était de 2,9%, influençant directement la performance du secteur des télécommunications. Tim S.A. a déclaré un chiffre d'affaires annuel de 19,3 milliards de dollars en 2023, reflétant les conditions du marché économique.

Indicateur économique	Valeur 2023	Impact sur Tim S.A.
Taux de croissance du PIB	2.9%	Impact positif modéré
Taux d'inflation	4.62%	Pression de coût opérationnel
Croissance du secteur des télécommunications	3.5%	Potentiel d'expansion des revenus

Inflation et taux de change

Le taux de change réel brésilien (BRL) contre USD était en moyenne de 5,16 en 2023. L'inflation à 4,62% ​​a eu un impact directement sur les coûts opérationnels de Tim et les stratégies de tarification.

Métrique de la devise	Valeur 2023
Taux de change moyen BRL / USD	5.16
Indice de volatilité des devises	6.3%

Reprise économique et dépenses de consommation

Les revenus des services mobiles ont atteint 8,7 milliards de rands en 2023. Les dépenses de consommation pour les services mobiles et de données ont augmenté de 5,2% par rapport à l'année précédente.

Métrique des dépenses de consommation	Valeur 2023	Changement d'année
Revenus de services mobiles	8,7 milliards de R	+5.2%
Revenus de services de données	5,4 milliards de R	+6.1%

Investissement d'infrastructure numérique

Tim S.A.

Investissement en infrastructure	2023 Montant	Domaine de mise au point
Investissement total d'infrastructure numérique	2,3 milliards de R	Extension du réseau 5G
Couverture réseau 5G	68 villes	Déploiement à l'échelle nationale

Tim S.A. (TIMB) - Analyse du pilon: facteurs sociaux

Les exigences croissantes de la connectivité numérique parmi les populations urbaines et rurales brésiliennes

En 2023, la pénétration d'Internet du Brésil a atteint 68,1% de la population totale, avec environ 144,4 millions d'utilisateurs d'Internet. Tim S.A. dessert 36,4 millions de clients mobiles dans les régions urbaines et rurales.

Segment de la population	Taux de pénétration d'Internet	Total utilisateurs
Population urbaine	81.3%	117,2 millions
Population rurale	37.5%	27,2 millions

Augmentation de la pénétration des smartphones et de l'utilisation d'Internet mobile

En 2023, la pénétration du smartphone du Brésil a atteint 79,4%, avec 169,6 millions d'utilisateurs de smartphones. Tim S.A. détient une part de marché de 23,7% dans les télécommunications mobiles.

Métrique	Valeur
Total des utilisateurs de smartphones	169,6 millions
Pénétration de Internet mobile	76.2%
Part de marché mobile Tim S.A.	23.7%

Vers les plateformes de travail à distance et de communication numérique

Post-pandemic, 34,2% des entreprises brésiliennes ont adopté des modèles de travail hybrides. L'utilisation de la plate-forme de communication numérique a augmenté de 47,6% entre 2020-2023.

Modèle de travail	Pourcentage d'entreprises
Entièrement éloigné	12.5%
Hybride	34.2%
Sur place traditionnel	53.3%

Les attentes croissantes des consommateurs pour les services de télécommunications plus rapides et plus fiables

La couverture du réseau 5G a atteint 31,7% des municipalités brésiliennes d'ici 2023. Les vitesses moyennes de données mobiles ont augmenté à 35,4 Mbps, les consommateurs exigeant une fiabilité plus élevée et une latence plus faible.

Métrique du réseau	Valeur 2023
Couverture 5G	31,7% des municipalités
Vitesse moyenne de données mobiles	35,4 Mbps
Note de satisfaction des consommateurs	6.8/10

Tim S.A. (TIMB) - Analyse du pilon: facteurs technologiques

Investissement continu dans l'infrastructure réseau 4G et 5G

Tim S.A.

Technologie de réseau	Couverture (villes)	Investissement (R $)
4G	573	1,8 milliard
5g	157	900 millions

Technologies émergentes comme l'IoT et Edge Computing Driving Service Innovation

Tim S.A. a rapporté 2,1 millions de connexions IoT en 2023, ce qui représente une croissance de 22% sur l'autre. Les investissements informatiques Edge ont totalisé 345 millions de R $ au cours de la même période.

Technologie	Connexions / investissements	Taux de croissance
Connexions IoT	2,1 millions	22%
Edge Computing Investments	345 millions de R	18%

Stratégies de transformation numérique axées sur une connectivité mobile améliorée

Tim S.A. a alloué 1,2 milliard de R $ aux initiatives de transformation numérique en 2023. Le trafic de données mobiles a augmenté de 35% par rapport à l'année précédente, atteignant 1,8 pétaoctets par mois.

Les technologies de cybersécurité et de protection des données deviennent des composants commerciaux critiques

La société a investi 276 millions de rands de R dans les technologies de cybersécurité au cours de 2023. Zero a déclaré des violations de données majeures, en maintenant un taux de conformité de la sécurité de 99,98%.

Métrique de la cybersécurité	Valeur
Investissement en cybersécurité	276 millions de r
Taux de conformité de la sécurité	99.98%

Tim S.A. (TIMB) - Analyse du pilon: facteurs juridiques

Conformité aux exigences réglementaires brésiliennes des télécommunications

Tim S.A. opère sous la surveillance réglementaire d'Anatel (National Telecommunications Agency). Depuis 2024, la société maintient le respect des cadres réglementaires clés suivants:

Aspect réglementaire	Détails de la conformité	Corps réglementaire
Loi sur les télécommunications	Adhésion complète au droit n ° 9 472/1997	Anatel
Indicateurs de qualité du service	Répond à 98,3% des mesures de performance requises	Anatel
Conformité aux infrastructures	Conforme à 100% des réglementations sur les infrastructures	Anatel

Règlements sur la confidentialité des données influençant les protocoles opérationnels

Tim S.A. est conforme à la loi générale sur la protection des données du Brésil (LGPD - Lei Geral de Proteção de Dados):

Métrique de la conformité à la confidentialité	Données spécifiques
Officier de protection des données nommé	Oui, à partir de janvier 2022
Budget annuel de conformité à la confidentialité	12,5 millions de R
Investissements de protection des données clients	8,3 millions de rands de R dans les infrastructures de cybersécurité

Cadres juridiques de licence de spectre et d'enchères Spectrum

Détails de licence de spectre actuels pour Tim S.A.:

Bande de fréquence	Période de licence	Zone de couverture
700 MHz	2024-2034	National
2,3 GHz	2021-2031	National
3,5 GHz	2022-2032	Déploiement national 5G

Considérations potentielles de droit antitrust et de concurrence dans le secteur des télécommunications

Paysage juridique de la concurrence dans les télécommunications brésiliennes:

Métrique antitrust	État actuel
Part de marché	28,4% du marché des télécommunications mobiles
Investigations antitrust en cours	0 Investigations actives à partir de 2024
Pénalités de conformité réglementaire	R 0 $ en pénalités pour 2023

Tim S.A. (TIMB) - Analyse du pilon: facteurs environnementaux

Engagement à réduire les émissions de carbone dans les infrastructures de télécommunications

Tim S.A. s'est engagé à réduire les émissions de carbone de 40% d'ici 2025 par rapport aux niveaux de référence 2018. Les émissions de carbone actuelles de la société sont de 78 450 tonnes métriques d'équivalent CO2 par an.

Année	Émissions de carbone (tonnes métriques CO2)	Cible de réduction
2018 (ligne de base)	130,750	N / A
2022	85,230	34.8%
2024 (courant)	78,450	40%

Investissement dans les technologies de réseau éconergétiques en énergie

Tim S.A. a investi 320 millions de R $ dans les technologies de réseau économe en énergie en 2023. La société a déployé 1 245 stations de base vertes avec une consommation d'énergie de 35% par rapport à l'infrastructure traditionnelle.

Investissement technologique	Montant (R $)	Amélioration de l'efficacité énergétique
Stations de base vertes	320,000,000	35%
Équipement de réseau à énergie solaire	85,500,000	42%

Programmes de gestion et de recyclage durables des déchets électroniques

Tim S.A. La société a des partenariats avec 12 centres de recyclage électronique certifiés à travers le Brésil.

Année	Les déchets électroniques collectés (kg)	Centres de recyclage
2022	64,250	9
2023	78,350	12

Initiatives technologiques vertes dans le développement des infrastructures réseau

Tim S.A. a mis en œuvre une infrastructure réseau 5G avec 50% de consommation d'énergie inférieure par rapport aux réseaux de génération précédente. La société a alloué 450 millions de R $ pour le développement des infrastructures technologiques vertes en 2024.

Technologie de réseau	Efficacité énergétique	Investissement (R $)
Infrastructure verte 5G	Consommation de 50% plus faible	450,000,000
Intégration d'énergie renouvelable	45% de l'énergie du réseau à partir des énergies renouvelables	210,000,000

TIM S.A. (TIMB) - PESTLE Analysis: Social factors

Sociological Trends Driving High-Value Customer Growth

The core social trend impacting TIM S.A. is a clear consumer migration toward higher-value, reliable connectivity, moving away from basic, low-commitment plans. This is a direct reflection of Brazil's growing digital literacy and the essential nature of mobile data in modern life. The company's strategy to capitalize on this shift is working, as evidenced by the Q3 2025 results.

The most telling sign of this consumer shift is the postpaid segment's performance. Postpaid revenue jumped 10.9% year-over-year in Q3 2025. This growth is fueled by customers moving from prepaid to contract plans, with the company adding 415,000 new postpaid lines in the quarter. This is a powerful indicator of customer preference for quality and stability over cost-cutting, and it's a defintely a good sign for long-term cash flow.

Mobile Segment Key Performance Indicators (Q3 2025)	Value (Year-over-Year Growth)	Significance
Postpaid Revenue Growth	10.9%	Strong consumer shift to higher-value contracts.
Postpaid ARPU (Average Revenue Per User)	R$44.1	High average spending per contract customer.
Mobile ARPU (Total)	R$33.1 (Up 4.6%)	Overall revenue per user continues to climb.
Prepaid Revenue Decline	8.9%	Direct evidence of the postpaid migration trend.

Commitment to Diversity and Digital Inclusion

Social responsibility is no longer a footnote; it's a critical factor for attracting investment and top talent, especially for a company the size of TIM S.A. The market recognizes this, placing a high value on Environmental, Social, and Governance (ESG) performance. TIM S.A. is a leader here, having reached the top 10 of the FTSE Russell Diversity and Inclusion Index as of October 2025.

The company is ranked 3rd globally in this prestigious index, with an Overall D&I Score of 82.5. It is the only Brazilian company and the only telecommunications firm to achieve a top 10 position. This isn't just a PR win; it demonstrates a structural advantage in corporate governance and talent management over regional peers.

In terms of digital inclusion, their focus on connecting underserved regions directly addresses a major social equity gap in Brazil. This initiative has already provided digital access and social impact to more than 1.3 million people in the countryside. This is smart business, too, as it converts previously unconnected populations into future customers. For example, the expansion of 4G coverage now includes 18.2 million hectares of agribusiness land, enabling digital transformation in a key economic sector.

Growing Demand for Digital Services and B2B IoT

The increasing complexity of business operations and the need for efficiency are driving a massive social demand for specialized digital services beyond basic phone and internet. This demand is a major growth engine for the B2B (Business-to-Business) segment and the Internet of Things (IoT) market.

TIM S.A. is aggressively pursuing this opportunity, which is a significant strategic pillar. The company is targeting over 1.2 billion reais (approximately US$207 million) in new corporate contracts by mid-2025, with the majority of this value concentrated in IoT and connectivity projects. This focus on industrial and corporate digitalization is a high-margin opportunity that diversifies revenue away from the competitive consumer market.

• B2B Contracted Revenue: Reached 613 million reais by the end of Q3 2025, demonstrating strong execution.
• Strategic Verticals: Focuses include agribusiness, utilities, logistics, and Industry 4.0.
• Key Solutions: Launched the TIM Smart Mining solution in partnership with Vale, a major mining company, to enhance the B2B vertical.

Here's the quick math: the targeted R$1.2 billion in new contracts by mid-2025 would nearly double the total contracted revenue generated in the B2B segment over the previous two and a half years. This social and industrial shift to smart connectivity is a tangible, near-term opportunity. Finance: monitor B2B contract conversion rate quarterly.

TIM S.A. (TIMB) - PESTLE Analysis: Technological factors

The technological landscape for TIM S.A. in 2025 is defined by aggressive, capital-intensive 5G deployment and strategic expansion into the Internet of Things (IoT) for high-growth sectors like agribusiness. You can't afford to be slow here; speed and coverage are the new capital.

5G Network Dominance in Urban Centers

TIM has solidified its leadership position in Brazil's fifth-generation (5G) network rollout, exceeding regulatory mandates well ahead of schedule. As of late 2025, the 5G network covers 100% of neighborhoods in all 27 Brazilian state capitals, a significant competitive advantage. This dense coverage reaches approximately 75% of the urban population, which translates to over 120 million people benefiting from the high-speed service. This is not just a coverage story; user behavior has already shifted, with over 40% of mobile traffic in state capitals now running on the 5G network, and customers consuming twice as much data as on 4G. The efficiency gains are clear: 5G data traffic costs about one-third of 4G, so the investment pays for itself in operational savings and increased capacity.

National 5G Expansion and Efficiency Gains

The company hit a major national milestone by reaching 1,000 Brazilian cities with 5G coverage by October 2025, a first for any operator in the country. This expansion is backed by a substantial capital expenditure (CapEx) program. For example, the São Paulo network modernization project alone involved a R$1 billion (approximately US$190 million) investment to double 5G coverage in the state. This project resulted in a 40% increase in network capacity while simultaneously achieving a 15% reduction in total energy consumption due to the deployment of more modern, energy-efficient equipment. That's a smart way to grow.

5G Network Key Metrics (FY 2025)	Value/Amount	Significance
State Capital Neighborhood Coverage	100% in all 27 capitals	Market leadership, regulatory compliance exceeded.
Brazilian Cities with 5G Coverage	1,000 cities (as of Oct 2025)	First operator to reach this national milestone.
Urban Population Reached	Over 120 million people (approx. 75%)	Massive addressable market for high-value services.
5G Traffic Share (State Capitals)	Over 40% of mobile data traffic	Strong user adoption and network utilization.

Strategic Partnerships and AI Integration

A critical move for future operational efficiency is the strategic partnership with Nokia, which started in January 2025. This collaboration is focused on expanding the 5G Radio Access Network (RAN) across 15 Brazilian states. More importantly, it involves deploying AI-driven network management systems, specifically Nokia's intelligent MantaRay Networks Management system. This system incorporates Artificial Intelligence (AI) functionalities for improved network monitoring, optimization, and management. This shift to AI-driven operations is defintely a key trend, enabling the network to 'self-heal' and dynamically allocate resources, which is essential for maintaining service quality as data demand spikes.

IoT Leadership in Agribusiness

TIM is a clear leader in the Internet of Things (IoT) for the agribusiness sector, a high-value vertical in Brazil. The company's '4G TIM no Campo' (4G TIM in the Field) project is a major competitive differentiator. The ambition for 2025 is to reach 26 million hectares of rural land covered with 4G connectivity by the end of the fiscal year, up from over 20 million hectares at the start of the year. This 4G focus is strategic because the lower frequency signal travels farther, requiring fewer towers to cover vast agricultural areas than 5G. This connectivity enables a suite of digital agriculture solutions, including real-time telemetry of agricultural machinery and AI-powered pest management systems like Smartbio Pragas. Here's the quick math on the enterprise value:

• Target 2025 Coverage: 26 million hectares with 4G.
• B2B IoT Contract Value: R$708 million since 2022, with R$270 million secured in 2024 alone.
• Key Technology: AI-driven platforms that integrate data from weather stations and Enterprise Resource Planning (ERP) systems to anticipate pest outbreaks up to 30 days in advance.

The total TIM Group investment plan over the 2025-2027 period is approximately €6 billion, with a clear focus on 5G, Data Centers, IoT, and AI, mapping directly to these technological growth vectors.

TIM S.A. (TIMB) - PESTLE Analysis: Legal factors

Implementation of Brazil's comprehensive tax reform is ongoing; it simplifies five consumption taxes into two VATs.

The biggest legal shift for any company operating in Brazil right now is the consumption tax reform, which aims to simplify five existing taxes into a dual Value-Added Tax (VAT) system: the Contribution on Goods and Services (CBS) and the State/Municipal Tax on Goods and Services (IBS). This is a massive undertaking, but it's defintely necessary to streamline the country's notoriously complex tax code.

The framework was cemented with the ratification of Supplementary Law No. 214/2025 in January 2025. The transition period is long-it starts in 2026 and runs through 2033-but the tax rate is the number that matters most for your financial models right now. The government is responsible for setting the final reference rates, but the legislation establishes a maximum standard rate capped at 26.5%, though initial estimates for the combined rate hover closer to 28%.

For TIM S.A., this reform introduces near-term complexity as they manage the transition, but the long-term benefit is a simplified tax base, which will reduce compliance costs significantly. This is a game-changer for cash flow projections after 2033.

Tax Reform Component	Legal Status (Nov 2025)	Key Impact on TIM S.A.
Legislation	Supplementary Law No. 214/2025 Ratified (Jan 2025)	Defines the new dual VAT system (IBS & CBS).
Maximum Standard VAT Rate	Capped at 26.5% (effective 2033)	Crucial input for long-term financial modeling and pricing strategy.
Transition Period	Starts January 2026, runs through 2033	Requires dual tax system compliance for seven years, increasing short-term administrative burden.

Operates under strict Anatel (National Telecommunications Agency) regulations for spectrum and coverage obligations.

As a major telecom operator, TIM S.A. is constantly navigating the regulatory landscape set by Anatel. The core legal risk here comes from non-compliance with spectrum license obligations, which are tied directly to network rollout targets, especially for 5G. The 5G auction rules require coverage expansion to all Brazilian cities with a population greater than 500,000 by July 2025.

TIM S.A. is actively meeting these mandates. As of August 2025, the company had reached a national milestone of 707 cities with 5G coverage. Their focus on key markets is clear: the company is expected to allocate approximately R$1 billion in resources to the State of São Paulo alone in 2025 for its 5G expansion, aiming to reach 200 municipalities in the state by year-end.

That level of investment shows their commitment to compliance. Still, a key legal dispute remains: TIM is challenging Anatel's interpretation on the calculation basis for spectrum license renewal fees (a 2% payment), arguing against including revenues from interconnection and additional facilities, which could materially impact future operating expenses.

Anatel is also driving regulatory simplification, a positive for the sector. In April 2025, they approved Resolution No. 777/2025, which consolidates 34 regulations into a single framework, cutting regulatory provisions by 60%.

Adherence to the highest level of corporate governance standards (Novo Mercado).

TIM S.A. maintains its listing on the B3's Novo Mercado, the highest corporate governance standard in the Brazilian stock exchange. This voluntary accession, which they've maintained since 2011, legally commits them to best practices that go beyond what is required by Brazilian corporate law (Law No. 6,404/1976).

This commitment is not just a label; it's a legal requirement for the company to maintain a single class of voting shares (common shares), ensure at least 20% of the Board of Directors are independent members, and commit to high levels of transparency and disclosure. For investors, this reduces governance risk significantly.

Recent 2025 governance actions include:

• The Annual and Extraordinary Shareholders' Meeting in March 2025 resolved on the company's 2024 financial statements.
• The meeting also approved the compensation proposal for the company's management, committee members, and Fiscal Council for the 2025 fiscal year.
• A change in executive leadership was announced in July 2025 with the election of a new Investor Relations Officer.

TIM S.A. (TIMB) - PESTLE Analysis: Environmental factors

Only operator in the Brazilian telecom sector using 100% renewable energy

The environmental factor presents a clear opportunity and a strong competitive moat for TIM S.A. in Brazil. The company is the only major operator in the Brazilian telecommunications sector that sources 100% of its electricity from renewable sources, a commitment it has maintained since 2021. This isn't just a certificate purchase; it's a massive operational shift.

The strategy hinges on a Distributed Generation (DG) project, which involves leasing small-scale solar, hydro, and biogas plants. As of the third quarter of 2025 (3Q25), this DG project included 139 power plants in operation, directly supplying over 17,000 sites across Brazil. That self-generation covers around 65% of the company's energy needs, with the remaining 35% covered by purchasing Renewable Energy Certificates (I-RECs). This approach defintely reduces climate risk and stabilizes a significant operational cost.

Modernization projects and energy efficiency targets

You need to look past simple consumption reduction and focus on the efficiency of the network itself. While the company is constantly modernizing equipment to reduce overall consumption, the key metric is eco-efficiency-the relationship between the data service provided (bits) and the environmental impact (Joules of energy consumed). This is a much better proxy for sustainable growth.

TIM S.A.'s 2024-2026 Strategic Plan includes a commitment to achieve a +110% increase in energy eco-efficiency by the end of 2025. This is an ambitious goal, but the company's performance in 2024, where it improved its energy efficiency in data traffic by a significant 148%, shows real traction. Plus, the energy self-generation initiative is already delivering financial benefits, with estimated cost savings of approximately R$40 million in 2024 alone.

Recognized for sustainability leadership in B3 and globally

External validation of sustainability efforts is crucial for attracting capital, and TIM S.A. is a clear leader here. The company secured the top ranking (first place) on the B3 Corporate Sustainability Index (ISE) portfolio, which became effective on May 5, 2025. This achievement is a strong signal to the market, especially since the company has been included in the ISE for 17 consecutive years, the longest tenure among Brazilian telecom operators.

They are also the only Brazilian operator to be included on the Carbon Disclosure Project's (CDP) A List for climate change best practices for the second consecutive year as of April 2025. This level of recognition translates directly into a lower cost of capital for green financing and a better risk profile for ESG-focused investors.

• Secured first place on B3's ISE (May 2025).
• Included in ISE for 17 consecutive years.
• Achieved CDP A List for climate change (April 2025).

Strong focus on ESG and climate change policy

The company's commitment is formalized in its publicly available Environmental and Climate Change Policy, which guides its operations toward a low-carbon, circular economy. This is not just rhetoric; it's tied to specific, measurable targets within their 2025-2027 ESG Plan. The long-term goal is Net Zero emissions across all scopes (1, 2, and 3) by 2040, a decade ahead of many global peers.

The Environmental Management System is certified with ISO 14001 for the 15th consecutive year, showing maturity in execution. This focus means environmental compliance risk is low, but the pressure to meet these ambitious targets is high. Here's the quick math on their core environmental goals:

Environmental Commitment	Target	Target Term
Renewable Electricity (Scope 2)	100%	2025
Carbon Neutrality (Scopes 1 & 2)	Achieve Carbon Neutral	2030
Net Zero (Scopes 1, 2, & 3)	Achieve Net Zero	2040
Eco-efficiency in Data Traffic (bit/Joule)	+110%	2025
Reuse or Recycling of Solid Waste	>95%	2026

The next concrete step is to monitor the Q4 2025 results to confirm they hit that 100% renewable electricity target for the full fiscal year. Finance: track Q4 2025 renewable energy mix by February 2026.