Carbon footprint: Scope and calculation methodology for CO₂ emissions

The Cellnex Group Greenhouse Gas (GHG) emissions inventory was prepared in accordance with ISO 14064-1:2018 as well as GHG Protocol standards, and GHG statements related to GHG inventories and procedures have been independently verified by a third-party (TÜV Rheinland) in accordance with ISO 14064-3:2019 and GHG Protocol standards, achieving a limited level of assurance.

The scope of Cellnex Group's carbon footprint for the year 2023 represents 100% of the Group's revenues. New companies have been included in the scope: Cellnex France Infrastructures SAS (France), The Broadcast Group B.V, Broadcast Innovations B.V, Broadcast Management&Operations B.V, Broadcast Technology B.V (Netherlands), Cignal Infrastructure UK Limited (UK), Cignal Infrastructure Portugal, S.A (Portugal), Remer sp z.o.o (Poland).

Cellnex Group has been preparing its GHG emissions inventory in accordance with the International ISO14064 Standard since 2015. As part of the internal procedure for GHG emissions information management, a summary table of the organisational and reporting boundaries has been included in Cellnex's GHG inventory since 2015.

In view of to the increase in the number of countries in which the company operates and the addition of indirect GHG emission categories as set out in the new International ISO 14064-1: 2018 Standard and the GHG Protocol, Cellnex established 2020 as the base year for GHG emissions for comparative purposes and other GHG programme requirements and intended uses.

In 2022, the 2020 and 2021 emissions inventories have been recalculated according to the GHG Protocol, as there were relevant structural and methodological changes during the year.

The results of Cellnex Group's carbon footprint correspond to the period from 1 January 2023 to 31 December 2023. The GHG emissions inventory maintains the structure and content

The financial control approach was taken into consideration to calculate Cellnex Group's carbon footprint. In line with the ISO 14064-1:2018 methodology, GHG emissions have been aggregated into the following categories at organisational level.

Following the “Guidance for the process of identifying significant indirect GHG emissions” included in standard ISO 14064-1:2018, Cellnex Group has defined its global criteria to evaluate the relevance of each indirect GHG emissions subcategory.

The principles that were taken into account when applying the criteria are relevance, completeness, consistency, accuracy and transparency.

The criteria used to evaluate the significance of indirect emissions include the following:

• Magnitude: Emissions that are assumed to be quantitatively substantial. All categories whose GHG emissions contribute less than 5% to the overall carbon footprint are considered non-relevant.
• Level of influence: Emissions which the organisation has the ability to monitor and reduce.
• Risk or opportunity: Indirect emissions that contribute to the organisation’s exposure to risk or its business opportunities.
• Sector-specific guidance: GHG emissions deemed significant by the business sector.
• Outsourcing: Indirect emissions resulting from outsourced activities that are typically core business activities.
• Employee engagement: Indirect emissions that could motivate employees to reduce energy use or fight climate change.

Two categories, (4. Transport and distribution upstream and 5. Waste generated in operations) have not been included this year in the carbon footprint calculation as they are not considered significant, following the ISO 14064 significance analysis.

The quantification model obtains the amount of emissions by source by multiplying the activity data by its correspondent emission factor. The emission factors are obtained from reliable and official sources (IPCC and other relevant sources).