Tim S.A. (TIMB): Análise de Pestle [Jan-2025 Atualizado]

No cenário dinâmico das telecomunicações brasileiras, Tim S.A. fica na encruzilhada de ambientes regulatórios complexos, inovação tecnológica e demandas de mercado em evolução. Essa análise abrangente de pilotes investiga profundamente os fatores multifacetados que moldam a trajetória estratégica da empresa, revelando uma interação diferenciada de forças políticas, econômicas, sociológicas, tecnológicas, legais e ambientais que simultaneamente desafiam e impulsionam o crescimento ambicioso de Tim em uma das telecomunicações telecomunicações mais vibrantes da América do Sul Mercados.

Tim S.A. (TIMB) - Análise de pilão: Fatores políticos

Estrutura regulatória de telecomunicações do Brasil

O setor de telecomunicações brasileiros é regulamentado por Anatel (Agência Nacional de Telecomunicações). A partir de 2024, os principais parâmetros regulatórios incluem:

Aspecto regulatório	Status atual
Regulamentação do mercado de telecomunicações	Lei 9.472/1997 (Lei Geral de Telecomunicações)
Supervisão da concorrência no mercado	Monitoramento ativo por Anatel e Conselho Administrativo para Defesa Econômica (CADE)
Restrições de investimento estrangeiro	Máximo de 49% de propriedade estrangeira em empresas de telecomunicações

Políticas governamentais em infraestrutura digital

Os investimentos em infraestrutura digital do governo brasileiro se concentram:

• Expansão da rede 5G
• Programa de acesso de banda larga universal
• Iniciativas de inclusão digital

Dados de leilão de espectro para 2023-2024:

Banda de espectro	Valor de leilão	Requisito de cobertura
700 MHz	R $ 1,1 bilhão	95% dos municípios
3,5 GHz	R $ 2,3 bilhões	100% das capitais estaduais

Impacto de estabilidade política

Indicadores de estabilidade política para o Brasil em 2024:

• Índice de Estabilidade Política do Banco Mundial: -0,52
• Pontuação de eficácia da governança: 0,41
• Índice de Percepção de Corrupção: 38/100

Possíveis mudanças regulatórias

Modificações regulatórias potenciais que afetam o setor de telecomunicações:

• Legislação proposta de segurança cibernética
• Alterações de proteção de dados
• Potenciais incentivos fiscais para o desenvolvimento de infraestrutura digital

Tim S.A. Despesas de conformidade regulatória em 2023: R $ 127 milhões

Tim S.A. (TIMB) - Análise de pilão: Fatores econômicos

As flutuações econômicas do Brasil afetam o setor de telecomunicações

A taxa de crescimento do PIB do Brasil em 2023 foi de 2,9%, influenciando diretamente o desempenho do setor de telecomunicações. Tim S.A. relatou receita anual de R $ 19,3 bilhões em 2023, refletindo as condições do mercado econômico.

Indicador econômico	2023 valor	Impacto em Tim S.A.
Taxa de crescimento do PIB	2.9%	Impacto positivo moderado
Taxa de inflação	4.62%	Pressão de custo operacional
Crescimento do setor de telecomunicações	3.5%	Potencial de expansão da receita

Taxas de câmbio de inflação e moeda

A taxa de câmbio do Brasilian Real (BRL) contra o USD teve uma média de 5,16 em 2023. A inflação em 4,62% ​​impactou diretamente os custos operacionais e as estratégias de preços de Tim.

Métrica de moeda	2023 valor
Taxa de câmbio médio de BRL/USD	5.16
Índice de Volatilidade da Moeda	6.3%

Recuperação econômica e gastos do consumidor

A receita de serviço móvel atingiu R $ 8,7 bilhões em 2023. Os gastos com consumidores em serviços móveis e de dados aumentaram 5,2% em comparação com o ano anterior.

Métrica de gastos com consumidores	2023 valor	Mudança ano a ano
Receita de serviço móvel	R $ 8,7 bilhões	+5.2%
Receita do Serviço de Dados	R $ 5,4 bilhões	+6.1%

Investimento de infraestrutura digital

Tim S.A. investiu R $ 2,3 bilhões em infraestrutura digital em 2023, alinhada às prioridades nacionais de desenvolvimento econômico.

Investimento de infraestrutura	2023 quantidade	Área de foco
Investimento total de infraestrutura digital	R $ 2,3 bilhões	Expansão da rede 5G
5G Cobertura de rede	68 cidades	Implantação nacional em todo o país

Tim S.A. (TIMB) - Análise de pilão: Fatores sociais

Crescentes demandas de conectividade digital entre populações urbanas e rurais brasileiras

Em 2023, a penetração da Internet do Brasil atingiu 68,1% da população total, com aproximadamente 144,4 milhões de usuários da Internet. Tim S.A. atende 36,4 milhões de clientes móveis em regiões urbanas e rurais.

Segmento populacional	Taxa de penetração na Internet	Usuários totais
População urbana	81.3%	117,2 milhões
População rural	37.5%	27,2 milhões

Aumentando a penetração de smartphones e o uso da Internet móvel

Em 2023, a penetração do smartphone do Brasil atingiu 79,4%, com 169,6 milhões de usuários de smartphones. Tim S.A. detém uma participação de mercado de 23,7% nas telecomunicações móveis.

Métrica	Valor
Total de usuários de smartphones	169,6 milhões
Penetração da Internet móvel	76.2%
Tim S.A. participação de mercado móvel	23.7%

Mudar para plataformas remotas de trabalho e comunicação digital

Pós-pandemia, 34,2% das empresas brasileiras adotaram modelos de trabalho híbrido. O uso da plataforma de comunicação digital aumentou 47,6% entre 2020-2023.

Modelo de trabalho	Porcentagem de empresas
Totalmente remoto	12.5%
Híbrido	34.2%
Tradicional no local	53.3%

As expectativas crescentes do consumidor para serviços de telecomunicações mais rápidos e confiáveis

A cobertura da rede 5G atingiu 31,7% dos municípios brasileiros até 2023. As velocidades médias de dados móveis aumentaram para 35,4 Mbps, com os consumidores exigindo maior confiabilidade e menor latência.

Métrica de rede	2023 valor
Cobertura 5G	31,7% dos municípios
Velocidade média de dados móveis	35,4 Mbps
Classificação de satisfação do consumidor	6.8/10

Tim S.A. (TIMB) - Análise de pilão: Fatores tecnológicos

Investimento contínuo em infraestrutura de rede 4G e 5G

Tim S.A. investiu R $ 2,7 bilhões em infraestrutura de rede em 2023. A cobertura da rede 5G atingiu 157 cidades até dezembro de 2023, representando 36,4% da população urbana do Brasil.

Tecnologia de rede	Cobertura (cidades)	Investimento (r $)
4g	573	1,8 bilhão
5g	157	900 milhões

Tecnologias emergentes como IoT e Inovação de Serviço de Driving de Computação de Edge

Tim S.A. relatou 2,1 milhões de conexões de IoT em 2023, representando um crescimento de 22% ano a ano. Os investimentos em computação de borda totalizaram R $ 345 milhões no mesmo período.

Tecnologia	Conexões/investimentos	Taxa de crescimento
Conexões de IoT	2,1 milhões	22%
Investimentos de computação de borda	R $ 345 milhões	18%

Estratégias de transformação digital com foco na conectividade móvel aprimorada

Tim S.A. alocou R $ 1,2 bilhão para iniciativas de transformação digital em 2023. O tráfego de dados móveis aumentou 35% em comparação com o ano anterior, atingindo 1,8 petabytes por mês.

As tecnologias de segurança cibernética e proteção de dados se tornam componentes de negócios críticos

A Companhia investiu R $ 276 milhões em tecnologias de segurança cibernética durante 2023. Zero relatou grandes violações de dados, mantendo uma taxa de conformidade de segurança de 99,98%.

Métrica de segurança cibernética	Valor
Investimento de segurança cibernética	R $ 276 milhões
Taxa de conformidade de segurança	99.98%

Tim S.A. (TIMB) - Análise de pilão: Fatores legais

Conformidade com os requisitos regulatórios de telecomunicações brasileiros

Tim S.A. opera sob a supervisão regulatória da Anatel (Agência Nacional de Telecomunicações). A partir de 2024, a empresa mantém a conformidade com as seguintes estruturas regulatórias seguintes:

Aspecto regulatório	Detalhes da conformidade	Órgão regulatório
Lei de Telecomunicações	A aderência total à Lei nº 9.472/1997	Anatel
Indicadores de qualidade de serviço	Atende 98,3% das métricas de desempenho necessárias	Anatel
Conformidade com infraestrutura	Compatível com 100% dos regulamentos de infraestrutura	Anatel

Regulamentos de privacidade de dados que influenciam os protocolos operacionais

Tim S.A. está em conformidade com a Lei Geral de Proteção de Dados do Brasil (LGPD - Lei Geral de Proteção de Dadas):

Métrica de conformidade com privacidade	Dados específicos
Oficial de Proteção de Dados designado	Sim, em janeiro de 2022
Orçamento anual de conformidade de privacidade	R $ 12,5 milhões
Investimentos de proteção de dados de clientes	R $ 8,3 milhões em infraestrutura de segurança cibernética

Licenciamento de espectro e estrutura legal de leilão de espectro

Detalhes atuais de licenciamento de espectro para Tim S.A.:

Banda de frequência	Período de licenciamento	Área de cobertura
700 MHz	2024-2034	Nacional
2.3 GHz	2021-2031	Nacional
3,5 GHz	2022-2032	Implantação nacional 5G

Potenciais considerações de direito antitruste e concorrência no setor de telecomunicações

Cenário legal de concorrência em telecomunicações brasileiras:

Métrica antitruste	Status atual
Quota de mercado	28,4% do mercado de telecomunicações móveis
Investigações antitruste em andamento	0 Investigações ativas a partir de 2024
Penalidades de conformidade regulatória	R $ 0 em multas por 2023

Tim S.A. (TIMB) - Análise de Pestle: Fatores Ambientais

Compromisso em reduzir as emissões de carbono em infraestrutura de telecomunicações

Tim S.A. se comprometeu a reduzir as emissões de carbono em 40% em 2025 em comparação com os níveis basais de 2018. As atuais emissões de carbono da empresa são de 78.450 toneladas métricas de equivalente a CO2 anualmente.

Ano	Emissões de carbono (toneladas métricas CO2)	Alvo de redução
2018 (linha de base)	130,750	N / D
2022	85,230	34.8%
2024 (atual)	78,450	40%

Investimento em tecnologias de rede com eficiência energética

A Tim S.A. investiu R $ 320 milhões em tecnologias de rede com eficiência energética em 2023. A Companhia implantou 1.245 estações de base verdes com 35% de consumo de energia menor em comparação à infraestrutura tradicional.

Investimento em tecnologia	Valor (r $)	Melhoria da eficiência energética
Estações de base verde	320,000,000	35%
Equipamento de rede movido a energia solar	85,500,000	42%

Programas sustentáveis ​​de gerenciamento e reciclagem de lixo eletrônico

Tim S.A. coletou e reciclou 78.350 kg de resíduos eletrônicos em 2023, representando um aumento de 22% em relação ao ano anterior. A empresa possui parcerias com 12 centros de reciclagem de resíduos eletrônicos certificados em todo o Brasil.

Ano	Lixo eletrônico coletado (kg)	Centros de reciclagem
2022	64,250	9
2023	78,350	12

Iniciativas de tecnologia verde no desenvolvimento de infraestrutura de rede

Tim S.A. implementou a infraestrutura de rede 5G com 50% menor consumo de energia comparado às redes de geração anterior. A empresa alocou R $ 450 milhões para o desenvolvimento de infraestrutura de tecnologia verde em 2024.

Tecnologia de rede	Eficiência energética	Investimento (r $)
5G Infraestrutura verde	50% de menor consumo	450,000,000
Integração de energia renovável	45% de energia da rede de renováveis	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.