MTN Links Senior Executives Pay to ESG Performance
MTN decided that in order to comply with its goal of cutting its carbon emissions to zero by 2040, it should link the income of senior executives to the progress the company is making on three ESG goals.
The following goals: reaching net-zero greenhouse emissions, enhancing diversity and inclusion, and extending rural broadband from 83% to 95% by 2025, will define in the future both short-term incentives (STI) and long-term incentives (LTI). In fact, the year 2025 corresponds to MTN's Ambition 2025 strategy, which focuses on accelerated growth and driving digital solutions across Africa.
MTN's chief executive officer, Ralph Mupita, stated that the company had made "great progress" in its overall sustainability efforts and was continually striving to fulfill the increasing ESG impact requirements demanded by its stakeholders. MTN, which operates in 19 markets, reduced in scope 1 and 2 greenhouse gas emissions by 16% in March. The company aims for a 47 percent decrease by 2030 and zero emissions by 2040.
Companies like MTN and other various industries have strengthened their ESG standards in response to shareholders' insistence on transparency in responsible investing.
According to its remuneration report, the corporation authorized a 2.38 percent raise for executive management in 2021, while non-executive management received an average of a 2.42 percent raise.
MTN aspires to build a gender-equal workforce by 2030 and stated in its most recent Sustainability Report that it intends to take action on female pay equity in order to make substantial progress.
Source : News 24