Liberty Latin America ups share of renewable power consumption

Telco Liberty Latin America (LLA) achieved a 31% share of renewable sources in its total energy consumption in 2022, up from 25% the year before, its just released annual sustainability report shows.

The figure is an average for all the markets where it operates in the region. The group does not provide details on the sources of renewable energies nor a breakdown per country.

In 2022, LLA's scope 1-2 emissions amounted to 196,753t of CO2eq, down from 233,454t the year before.

Overall, Liberty Latin America claims to have “made significant progress” in the assessment of GHG emissions by covering the value chain emissions of four of its largest markets (Costa Rica, Jamaica, Panama and Puerto Rico).

"This year, we assessed our 2022 scope 1-2 emissions with the same coverage as last year (all our operational divisions), and significantly expanded our 2021 and 2022 scope 3 emissions reporting to include three of our largest markets in addition to Costa Rica: Jamaica, Panama, and Puerto Rico. With this assessment, we are one step closer to reaching a comprehensive understanding of our group-level GHG emissions," the company said.

In scope 2 market-based emissions the company has implemented renewable electricity initiatives, including in Panama and Puerto Rico.

With respect to scope 3 (suppliers and value-chain emissions), the company says it is advancing on different fronts. In Costa Rica, for example, the group said it is expanding electric car fleets for service visits.

LLA also said it is increasing efficiency through investments in "state-of the-art facilities" and new cooling systems, without providing details.

The company’s GHG inventory “perimeter” changed in 2022 with the deconsolidation of VTR in Chile and the acquisition of Claro Panama, so straight year-to-year comparisons would not be totally accurate.

Recently, LLA signed an agreement with IDB Invest to structure what it claims to be the largest sustainability-linked bond (SLB) for the telecommunications sector in Central America, worth US$450mn. The financing line is mostly focused on Costa Rica.

The package includes investments in fiber-to-the-home, increased capabilities and speeds of the HFC network, capital expenditures related to 4G/5G infrastructure, refinancing obligations, working capital and general corporate purposes.

According to IDB Invest, it is the largest SLB it has structured for the digital economy sector to date. 

GOVERNANCE AND DATA BREACHES

In governance, Liberty Latin America said its data privacy officer began working in 2022 with the information security team to create and issue new policies designed to provide greater protection to the data retained for customers and employees. 

This group managed a global roll-out of the policies over the past year, which will be followed by training of employees in 2023.

As of end-2022, LLA had approximately 11,000 full-time employees.

“In 2022, we did not have any material data breaches that could have a negative impact on our financial results or business operations,” the company said in the report. 

“If there is a data breach in the future that we determine to be material, we intend to disclose the breach in our public filings with the Securities and Exchange Commission.” 

The group’s full sustainability report can be accessed here.