Ericsson Named a Top International Corporate Citizen in Canada by Corporate Knights
- Ranking recognizes Ericsson as a global leader in sustainability
- Honour comes as Ericsson Canada celebrates its 70th anniversary of operations in Canada, with new R&D investments announced this year
TORONTO, June 28, 2023 /3BL/ - Ericsson, a leading R&D spender in Canada and a global leader in 5G sustainability, is proud to announce it has been named as one of Canada's Top International Corporate Citizens in 2023. This designation was awarded to Ericsson by Corporate Knights, a media and research company committed to advancing a sustainable economy.
Jeanette Irekvist, President of Ericsson Canada, says: "We're honoured to be named a Top International Corporate Citizen in Canada by Corporate Knights. This recognition is a huge accomplishment for our team and reinforces our dedication to achieving Net Zero emissions across our entire value chain by 2040 and supporting Canada's commitment to achieve net-zero emissions by 2050. Ericsson is committed to supporting the deployment of smart, sustainable 5G networks that provide high performance with a lower carbon footprint. We are driving our global innovation in network sustainability through our investments in R&D here in Canada, and a research partnership with Environment and Climate Change Canada and ÉTS, Concordia and Polytechnique that is already exploring how AI can help our sector meet Canada and the world's carbon neutrality goals."
Ericsson ranked in the eighth position in the 2023 Top 10 International Corporate Citizens. Winners are selected from 115 companies that earn over $1 billion in revenues in Canada, are not listed or headquartered in Canada and have the highest scores on the Corporate Knights Sustainability Rating methodology, and that ranked highest on Corporate Knight's previously released Global 100 Most Sustainable Companies in the World.
Bhushan Joshi, Head of Sustainability & Corporate Responsibility, Ericsson North America, says: "Ericsson's commitment to corporate responsibility and climate action is central to our company purpose and built into our way of working and the solutions we deliver. Ericsson is committed to pioneering a sustainable future by helping our customers sustainably scale 5G and enabling the decarbonization of industries using the power of connectivity. This recognition reflects the efforts of Ericsson colleagues in Canada and around the world who are committed to advancing our Net Zero journey."
The Corporate Knights Sustainability Rating methodology incorporates data collected from annual reports, sustainability reports, and company websites to score companies based on metrics such as share of "clean" revenue and investments, eco-efficiency, diversity on boards of directors and among executives. One fifth of those Global 100 companies are U.S.-based, making it the leading country for members of the index, followed by Canada with 11 per cent.
"Ericsson, as a global entity, was noted for its top quartile performance against global peers on energy productivity, carbon productivity, cash taxes paid ratio, sustainable investments and pension fund quality." Toby Heaps, CEO of Corporate Knights.
Rapidly increasing mobile network usage is driving a need to deploy more capacity, creating a sustainability challenge for service providers. Ericsson's innovative Radio Access Networks (RAN) energy-saving software enables service providers to decrease power consumption while preparing their networks for 5G consumer and business demand. Ericsson's 5G portfolio is 10 times more energy efficient than 4G and its third and fourth generation massive MIMO 5G radios were 10 times more energy efficient compared to 4G radios. For more, please read Ericsson's latest Sustainability and Corporate Responsibility report.
70 Years of Connecting Canadians
Ericsson Canada has played a vital role in the country's innovation ecosystem for 70 years, including supporting communications service providers through every generation of mobile communication. Ericsson Canada is also a partner in the national ecosystem network aimed at fostering 5G adoption and collaboration in Canada. Ericsson Canada has R&D centres and offices in Montreal, Ottawa and Toronto and is among the leading R&D spenders in the country – averaging some $345 million per year.
Related links:
Ericsson establishes Quantum Research hub in Canada
Ericsson Open Lab
Ericsson Canada
Ericsson in Canada: 70th Anniversary
Ericsson Canada: Latest News
ERICSSON CANADA MEDIA CONTACT:
Nathan Gibson
nathan.gibson@ericsson.com
Mob: 647-554-1423
ABOUT CORPORATE KNIGHTS:
Corporate Knights Inc. includes the sustainable economy magazine Corporate Knights and a research division that produces global ratings and rankings on corporate and financial product sustainability.
ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company's portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson's innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
SOURCE Ericsson Canada
