Climate Change Data

Environmental Metrics

ESG Focus Areas

• Economic Development
• Social Benefit
• Access to Service
• Privacy and Data Security
• Talent Management
• Transparency
• Anti-bribery and Anti-corruption
• Environmental Impact
• Inclusive Supply Chains
• Conflict Minerals and Climate Change Mitigation
• Net Neutrality
• Privacy and Freedom of Expression
• Online Child Safety
• Labor Standards
• Ethical Behavior
• Health and Safety

Environmental Achievements

• Wind Tre cut carbon dioxide equivalent by 54% (per unit of traffic, against a 2013 baseline)
• Jazz decreased its non-network carbon footprint by 73%
• Improved network infrastructure reduced energy consumption

Social Achievements

• Make Your Mark program: 9,397 people attended entrepreneurship educational events; launched ICT incubators in Bangladesh and Pakistan; Kyivstar launched a big data school; expanded tech-hub in Rome; 1000 teams registered for Eurasia Mobile Challenge 2016
• Mobile financial services: Banglalink had 88 million MFS transactions and 10.2 million customers; JazzCash conducted over 100 million transactions amounting to over USD 276 million
• Mobile literacy program in Pakistan: 10,000 adult female learners taught basic literacy skills
• Community engagement: over USD 2.6 million in social investments, 10,293 employee volunteering hours, and USD 191,995 in in-kind donations

Governance Achievements

• Strengthened compliance program
• Approved a group health and safety policy
• Launched a supplier Code of Conduct and assessment process
• Improved score on the Dutch government’s Transparency Benchmark

Climate Goals & Targets

Environmental Challenges

• Swift technological developments raising ethical and value questions
• Managing risks associated with operating in challenging environments
• Data loss incidents
• Anti-competitive behavior incidents
• Marketing compliance incidents
• Underreporting of work-related injuries and fatalities

Mitigation Strategies

• Embedded COSO and ERM framework for risk management
• Extensive employee communications around business principles and Code of Conduct
• Strengthened internal controls and compliance program
• Appointment of an independent compliance monitor
• Implementation of Due Diligence Business Partner Compliance and Screening Procedure
• Supplier Code of Conduct and assessment process
• Improved data gathering and reporting systems

Supply Chain Management

Supplier Audits: 26 global strategic suppliers assessed (96%), 284 local high-risk suppliers approached (28% assessed)

Responsible Procurement

• Supplier Code of Conduct
• EcoVadis assessment

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI G4, Integrated Reporting Framework, UN Global Compact, Dutch Transparency Benchmark

Certifications: ISO 14001 (Wind Tre), ISO 9001 (Wind Tre), ISO 27001 (Wind Tre), SA8000 (Mobilink), OHSAS 18001 (Wind Tre)

UN Sustainable Development Goals

• Goal 4 (Quality Education)
• Goal 8 (Decent Work and Economic Growth)
• Goal 9 (Industry, Innovation and Infrastructure)

Make Your Mark program contributes to these goals through education, entrepreneurship support, and digital infrastructure development.

Awards & Recognition

• Wind Tre social reporting award

Environmental Metrics

ESG Focus Areas

• Social impact
• Talent management
• Ethics, transparency & governance
• Environmental performance
• Digital inclusion
• Privacy & data security
• Service quality
• Responsible supply chain
• Occupational health & safety
• Economic development

Environmental Achievements

• Reduced CO2 emissions by 21% (from 0.72 tons per terabyte in 2016 to 0.57 tons in 2017). This is a result of investments in energy-efficient Base Tranceiver Stations (BTS) and state-of-the-art free cooling technology.
• Introduced 428 renewable energy powered base stations in December 2017.
• Banglalink reduced paper consumption by 49.2%, wastage by 14.8%, and electricity consumption by 13%.

Social Achievements

• Launched Make Your Mark (MYM) program supporting 1400 startups.
• Launched Digital Skills & Literacy (DS&L) initiative benefiting 25,617 in literacy programs and providing 17,639 with free internet connections.
• Jazz Smart Schools Programme benefiting more than 15,000 school children across 75 public sector female high schools in Pakistan.
• Beeline Russia implemented sign language interpreter services in ten offices.

Governance Achievements

• Strengthened compliance framework with over 20 new documents establishing minimum standards.
• Implemented a risk-based training program for approximately 40,000 employees.
• Added in-house expertise in due diligence, investigations, and risk assessments to the compliance team.

Climate Goals & Targets

Environmental Challenges

• Supply chain risks related to environmental and labor standards, fair business practices, and supplier management.
• Occupational health and safety risks, particularly in high-risk areas and during civil unrest.
• Balancing data usage for innovative services with protecting user privacy and security.

Mitigation Strategies

• Assessed high-risk suppliers against sustainability criteria and provided support to improve compliance.
• Initiated a project to improve security for base stations in remote areas.
• Adopted a 'privacy built-in' approach and 'privacy by design' mindset for digital offerings.

Supply Chain Management

Supplier Audits: 60 suppliers (20 group, 40 local) re-evaluated by EcoVadis in 2017.

Responsible Procurement

• Business Partner Code of Conduct
• Supplier sustainability requirements
• Bribery and corruption screening

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, UN Global Compact

Certifications: ISO 14001 (Wind Tre and Djezzy), ISO 9001 (Wind Tre and Djezzy), ISO 27001 (Wind Tre and Djezzy), SA8000 (Wind Tre and Jazz), OHSAS 18001 (Wind Tre)

UN Sustainable Development Goals

• Goal 4 (Quality Education)
• Goal 5 (Gender Equality)
• Goal 8 (Decent Work and Economic Growth)
• Goal 9 (Industry, Innovation and Infrastructure)

VEON's initiatives in digital skills and literacy, female empowerment, mobile financial services, and digital entrepreneurship contribute to these goals.

Awards & Recognition

• WWF Green Office Awards (Jazz)
• WWF Green Office Certification (Banglalink)

Environmental Metrics

ESG Focus Areas

• Digital Entrepreneurship
• Digital Skills and Literacy
• Corporate Sustainability

Environmental Achievements

• 14% Reduction in CO2 emissions/unit of traffic (tonnes/terabyte)
• 472 BTS powered by renewable technology (solar or wind energy solutions)
• 86,287 BTS powered by energy-efficient technology

Social Achievements

• Various digital literacy and entrepreneurship programs impacting thousands of individuals across multiple countries (detailed in case studies)
• Launched Make Your Mark initiative to foster digital entrepreneurship
• Supported numerous start-ups, creating jobs and boosting local economies

Governance Achievements

• Successfully concluded Deferred Prosecution Agreement (DPA) with the US Department of Justice, ending compliance monitorship
• Enhanced local Boards with independent advisors
• Adopted co-CEO leadership structure

Climate Goals & Targets

Environmental Challenges

• Maintaining high ethical and compliance standards across diverse operating environments
• Reducing environmental impact of network operations
• Addressing digital literacy gaps and promoting digital inclusion

Mitigation Strategies

• Implemented robust ethics and compliance programs, including annual training and a confidential reporting system
• Invested in energy-efficient technologies and renewable energy sources
• Launched various digital skills and literacy initiatives, partnering with NGOs and educational institutions

Supply Chain Management

Responsible Procurement

• Business Partner Code of Conduct

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards: Core option, IIRC Framework

Third-party Assurance: Challenge Sustainability Limited

UN Sustainable Development Goals

• SDG 4: Quality Education
• SDG 5: Gender Equality
• SDG 8: Decent Work and Economic Growth
• SDG 9: Industry, Innovation and Infrastructure

VEON's initiatives contribute to these goals through digital literacy programs, entrepreneurship support, and investment in infrastructure.

Sustainable Products & Innovation

• Self-care apps
• Digital financial services
• Mobile health solutions
• Smart farming solutions

Awards & Recognition

• Global Good Awards 2019 BEST EDUCATION AWARD (Finalist)
• International CSR Excellence Awards (Gold)
• BN Intelligence Sustainability Awards (Gold and Sustainability Leadership Award)
• Corporate Engagement Awards (Gold)

Environmental Metrics

ESG Focus Areas

• Carbon footprint reduction
• Energy efficiency
• Responsible use of natural resources
• Waste reduction
• Emissions reduction
• Diversity and Inclusion

Environmental Achievements

• VEON’s carbon dioxide (CO2) emissions decreased from 0.24 tonnes per terabyte in 2019 to 0.1 tonnes in 2020, a 58% decrease.

Social Achievements

• In November 2019, VEON was recognized as among the most transparent companies in the Netherlands by the Dutch Transparency Benchmark.
• In March 2021, VEON implemented a diversity and inclusion policy.

Governance Achievements

• Improved transparency ranking in the Netherlands from 449 in 2011 to 32 in 2019.

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impact on retail operations, gross connections, airtime sales, roaming revenues, and migrant customer base.
• Currency devaluation in operating countries.
• Competition in highly competitive markets.
• Keeping pace with technological changes.
• Macroeconomic developments in various markets.
• Liquidity risk.
• Banking and financial counterparty risk.
• Debt service risks.
• Access to capital.
• Challenges in local implementation of strategic initiatives.
• Partnership risks.
• Cyber-attacks and denials of service.
• Supply chain risks.
• Spectrum and license rights.
• Interconnection agreements with other operators.
• Unethical or inappropriate behavior.
• Regulation & compliance risks.
• Unpredictable tax claims, decisions, audits & systems.
• Data privacy.
• Money Laundering rules.
• Sanctions and export controls risks.
• Emerging markets-related risks.
• Infrastructure risks.
• Sanction and export controls risks.
• Political instability in operating countries.
• Infrastructure risks.
• Underdeveloped banking systems in some operating countries.
• Currency control requirements in some operating countries.

Mitigation Strategies

• Foreign exchange hedging strategies.
• Monitoring technology developments and competitor activity.
• Dialogue with local industry regulators.
• Measures to ensure operational continuity and employee safety during the COVID-19 pandemic.
• Establishment of a USD 6.5 billion Medium-Term Note (MTN) programme.
• Adaptation of marketing strategies to local market conditions.
• Deployment of high-speed 4G networks.
• Acquisition of new spectrum.
• Simplifying business structure and local partnerships.
• Monitoring and logging network and systems, employee security awareness training, vulnerability scanning.
• Maintaining good relationships with regulatory authorities.
• Risk-based due diligence on business partners.
• Reducing reliance on single vendors.
• New Governance, Risk and Compliance (GRC) framework.
• Partnership with Mastercard.
• Acquisition of 100% of PMCL.
• Enhanced cybersecurity strategy.
• Increasing capital investment efficiency, network sharing agreements, asset-light business model.
• Oversight and expertise from Ethics & Compliance and Legal teams, supplemented by external counsel.
• Data privacy program with controls such as privacy assessments, data breach response processes, and individual rights processes.
• KYC and AML controls across DFS products and services.
• Diverse sourcing of equipment suppliers.
• New governance model with clear objectives, roles, and responsibilities.
• Policy of diverse sourcing of equipment suppliers.
• Managing a diverse portfolio of emerging markets businesses.
• Long-term investment in network infrastructure, off-grid power provision.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Policy of diverse sourcing to reduce reliance on single vendors.

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI (core level), AA1000 Accountability Principles Standard

Certifications: Null

Third-party Assurance: Limited assurance on various subject matters (ISAE 3000 (revised); Type 1 moderate assurance (AA1000AS) 2008)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• Most transparent companies in the Netherlands (Dutch Transparency Benchmark)

Environmental Metrics

ESG Focus Areas

• Strong infrastructure
• Digital and financial inclusion
• Cybersecurity and online safety
• Constant innovation in products and services
• Best customer experience
• Employees’ health and safety
• Talent management and skills development
• Highest standards in corporate governance
• Strong financial performance
• Diversity and inclusion

Environmental Achievements

• Reduced CO2 emissions to 0.7 megatons in 2022 from 0.6 megatons in 2020. Increased number of BTS with solar and/or wind energy technology to 823 in 2022 from 464 in 2020.
• Increased number of BTS with free-cooling technology to 7,453 in 2022 from 6,771 in 2020.

Social Achievements

• JazzCash serves over 16 million customers in Pakistan, providing a payments network to 250,000 merchants and facilitating 50,000-60,000 microloans daily.
• Launched Beeline’s Simply digital payment card in Kazakhstan and Beepul digital payments service in Uzbekistan.
• Provided free or subsidized internet connections to 1,923 educational institutions.
• Donated ICT equipment benefiting 158,739 individuals.
• Implemented mobile literacy and skills development programs benefiting 480,500 individuals.
• Enrolled 161,603 individuals in traditional education and skills development initiatives.
• Provided 54 average training hours per employee.
• Supported 41 start-ups and conducted 16 hackathons.
• Kyivstar provided free internet services to 1,450 bomb shelters in Ukraine.
• Kyivstar's 'Roam Like Home' service enabled almost three million displaced customers to use data and make calls as if they were in Ukraine.

Governance Achievements

• Implemented a Governance, Risk, and Compliance (GRC) framework.
• Delegated operational authority to operating companies.
• Created local Operating Company (OpCo) Boards.
• 100% of GEC members received anti-corruption training.

Climate Goals & Targets

Environmental Challenges

• Conflict in Ukraine and Russia impacting operations and finances.
• International sanctions.
• Cyberattacks.
• Supply chain disruptions.
• Devastating floods in Pakistan.
• Economic instability in operating markets.

Mitigation Strategies

• Drew down USD 1.1 billion revolving credit facility.
• Finalized sale of Algerian business, netting USD 692 million.
• Restructured RUB 120 billion of debt.
• Extended maturity of 2023 USD-denominated notes.
• Maintained network availability in Ukraine despite damage.
• Pledged PKR 1 billion (USD 4.5 million) to Pakistan flood relief efforts.
• Implemented cost optimization programs.
• Developed alternative sourcing strategies.

Supply Chain Management

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Flooding

Transition Risks

• Regulatory changes
• Market shifts

Reporting Standards

Frameworks Used: Framework, GRI

Certifications: ISO 27001 (Bangladesh and Pakistan)

Third-party Assurance: Challenge Sustainability Limited

UN Sustainable Development Goals

• 4 (Quality Education)
• 5 (Gender Equality)
• 8 (Decent Work and Economic Growth)
• 9 (Industry, Innovation and Infrastructure)
• 10 (Reduced Inequalities)
• 16 (Peace, Justice and Strong Institutions)

VEON interprets Goal 16 in the context of governance. Other goals are addressed through various initiatives described in the report.

Awards & Recognition

• Ookla Speedtest Award (Bangladesh)
• UN Women Asia and the Pacific Women Empowerment Principles Award (Jazz)
• Global Best Practice award for Diversity, Equity and Inclusion (Jazz)

Environmental Metrics

ESG Focus Areas

• Connectivity
• Digital Inclusion
• Sustainability
• Diversity & Inclusion
• Community Investment
• Education
• Healthcare

Environmental Achievements

• Reduced emissions by 1,300 tonnes through energy conservation, audits, and exploring renewable sources in Pakistan.
• Cut 4,000 tonnes of CO2 emissions by reducing SIM card size and supporting zero waste to landfill in Pakistan.
• Planted over 3,000 trees, sequestering 30 tonnes of CO2 annually in Pakistan.

Social Achievements

• Invested USD600 million in Ukraine to aid the nation’s recovery.
• Raised USD4.8 million to help demining in Ukraine.
• Provided internet connectivity for bomb shelters in Ukraine.
• Provided free connectivity and services for frontline medical professionals in Ukraine.
• Sponsored the first children’s burns unit in Ukraine.
• Empowered women across Pakistan by creating economic opportunities and supporting STEM education.
• Launched pioneering programs empowering women entrepreneurs in Pakistan.
• Assisted in a major humanitarian initiative in Bangladesh, developing an early warning system for Cyclone Mocha.
• Successfully evacuated over 750,000 people during Cyclone Mocha in Bangladesh.
• Completed the total modernization of eight rural schools and organized free Beeline Bootcamps to teach young people software development and e-commerce skills in Kazakhstan.
• Provided free internet to 20 social organizations that help adults and children with disabilities in Kazakhstan.

Governance Achievements

• Actively trying to resolve the freezing of Kyivstar’s corporate rights in Ukraine.
• Successfully obtained the ISO Cyber Security Certification in Bangladesh.
• Successfully concluded the sale of a portion of its tower portfolio in Bangladesh.
• Achieved a gender balance with 44.9% female employees and 40% in middle management in Kazakhstan.
• Named as a top-three “Best Employer” by Ernst & Young and recognized as “Best Employer” in Central Asia in Kazakhstan.

Climate Goals & Targets

Environmental Challenges

• Devastating effects of the war in Ukraine.
• Infrastructure damage from artillery, missiles, and drones in Ukraine.
• Mobilisation of employees into military service in Ukraine.
• Reintegrating former employees, some now facing disabilities, back into the Kyivstar family in Ukraine.
• Macroeconomic factors and foreign exchange restrictions on imports in Pakistan.
• Extensive cyber attack in December 2023 in Ukraine.
• Freezing of Kyivstar’s corporate rights in Ukraine.
• Discriminatory taxation system in Uzbekistan.
• Challenging geography and demographics in Kyrgyzstan.

Mitigation Strategies

• Increased investment into power self-sufficiency through the deployment of generators and batteries in Ukraine.
• Built in greater resilience through the introduction of gigabit networks and the deployment of more mastheads in Ukraine.
• Careful navigation of economic turmoil and reduction of Capex in Pakistan.
• Heroic efforts of technical team to progressively restore network connectivity in Ukraine.
• Substantially increasing investments in Ukraine.
• New and highly innovative approach to tariff and service bundles in Uzbekistan.
• Project Vulcan to overhaul network and ensure market-leading performance in Uzbekistan.

Supply Chain Management

Climate-Related Risks & Opportunities

UN Sustainable Development Goals

• SDG 5 (Gender Equality)
• SDG 7 (Affordable and Clean Energy)
• SDG 9 (Industry, Innovation, and Infrastructure)
• SDG 13 (Climate Action)

Awards & Recognition

• Best Sustainability Excellence Initiative (Bangladesh)
• Best Bank for Inclusion (Pakistan)
• National Financial Literacy Programme Award (Pakistan)
• Best Employer in Kyrgyzstan
• Best Company of 2023 (Kyrgyzstan)