NOS Comunicações sustainability score: 54/100

NOS SGPS publishes an Integrated Annual Report (filed 14 March 2025 on CMVM) that includes GHG emissions data aligned with GHG Protocol. The group holds ISO 14001:2015 certification across NOS Comunicações S.A. and six other group companies covering ~90% of employees. Specific Scope 1 and 2 absolute tonnage figures were not surfaced in search excerpts, but the existence of SBTi-validated targets (requiring a verified baseline inventory) and CDP A-List status confirm that GHG Protocol-aligned Scope 1 and 2 data are formally published and externally assessed. The Portuguese electricity grid is approximately 71% renewable, moderating location-based Scope 2. Score capped at 6 rather than 8 because third-party-verified, granular breakdown with multi-year absolute figures was not independently confirmed in accessible sources.

NOS has an SBTi-validated Scope 3 target (−30% by 2030 vs 2019), which requires a quantified Scope 3 baseline inventory. CDP A-List status also implies Scope 3 has been assessed and disclosed. For a telecom group, key Scope 3 categories include purchased goods and services (network equipment, devices), capital goods, and customer device use. The existence of a validated SBTi target confirms major Scope 3 categories have been quantified with methodology. However, specific absolute Scope 3 tonnes and supplier engagement programme details were not independently verified from accessible sources, preventing a higher score. Score of 5 reflects quantified material categories with a validated target but without confirmed supplier engagement programme or verified year-on-year data.

NOS has SBTi-validated near-term targets to reduce Scope 1 and 2 by 90% and Scope 3 by 30% by 2030 vs 2019. CDP A-List status and the 2025 S&P CSA score of 75/100 indicate demonstrated progress. The group also offsets residual emissions through domestic reforestation and has issued sustainability-linked bonds with ESG performance targets. However, no specific absolute tonne figures for multiple years were independently confirmed from publicly accessible search results, making it impossible to verify a demonstrated multi-year absolute reduction trajectory with precision. Score of 6 reflects evidenced year-on-year reduction direction supported by external validation (SBTi, CDP A-List), without confirmed multi-year verified absolute figures.

NOS explicitly invests in renewable energy (stated on the nos.pt sustainability page) and has SBTi-validated targets requiring near-elimination of Scope 2 emissions by 2030. Portugal's electricity grid runs at approximately 71% renewable, which benefits NOS's location-based Scope 2. The group has issued €300 million in sustainability-linked financing and signed the European Declaration for a green digital transformation, signalling renewable energy transition commitment. However, the specific percentage of renewable energy in NOS's own consumption mix, whether via PPA or green tariff, and whether additionality criteria are met, was not confirmed from accessible sources. Score of 6 reflects clear transition plan with strong supporting evidence, but specific renewable % not independently verified.

NOS offsets residual emissions partly through domestic reforestation (stated on nos.pt sustainability page). No TNFD disclosure was found in research. As a telecom group, NOS's nature exposure is primarily through physical network infrastructure (antenna towers, cable routes) and hardware supply chains (devices, equipment). ISO 14001 certification indicates a basic environmental management system is in place. No evidence of deforestation-free commitments, TNFD alignment, or quantified nature footprint was found. Reforestation for offsetting is noted but not credited here as a nature strategy — it is captured in Q8. Score of 4 reflects a basic environmental policy in place and awareness of key nature risks without a quantified nature footprint or TNFD disclosure.

NOS is a telecom group and its material resource flows include network equipment, customer devices, packaging, and office operations. ISO 14001 certification covers waste management and resource efficiency. NOS's sustainability reporting (Integrated Annual Report 2024) likely includes waste metrics given CDP A-List status, but specific circular economy targets, verified recycling rates, or closed-loop hardware programmes were not confirmed in accessible sources. No evidence of major waste incidents found. Score of 5 is a reasoned middle position: the certification and CDP disclosure indicate active waste management and some supplier sustainability requirements, but without confirmed measurable circular targets in accessible data.

NOS is a telecommunications company and is not water-intensive by industry standards — its primary water use relates to office buildings and data centre cooling. No water pollution incidents or discharge non-compliance were found. ISO 14001 certification implies water monitoring is part of the environmental management system. CDP A-List disclosure would typically include water consumption data. However, specific water volumes, water reduction targets, or watershed stewardship programmes were not identified in publicly accessible search results. Score of 4 reflects a company with inherently low water risk, ISO 14001 in place, and likely monitoring but without publicly confirmed quantified water reduction targets.

NOS has SBTi-validated near-term targets: -90% Scope 1 and 2 and -30% Scope 3 by 2030 vs 2019 baseline. This was validated by the Science Based Targets Initiative — the leading external standard. More than 90% of NOS's financial debt is linked to ESG performance targets, creating financial accountability. NOS also issues sustainability-linked bonds (€300M) and signed the European Declaration for a green digital transformation. The group also reforests domestically for residual emission offsetting, which suggests some offset use — but the primary strategy is science-aligned absolute reduction, not offset-first. Score of 7 reflects SBTi-validated near-term targets with reduction-first approach; not 8 because net-zero SBTi validation (long-term targets) was not confirmed, and the offset (reforestation) element introduces some ambiguity.

NOS publishes an annual Integrated Report (GRI-aligned, filed on CMVM) including sustainability data. The group has a Corporate Governance and Sustainability Committee at board level. CDP A-List rating (2022 and A/A List in 2025) confirms high-quality external disclosure. Over 90% of financial debt linked to ESG targets creates accountability. S&P CSA score of 75/100 (2025) and Moody's ESG assessment ranking NOS fourth in European telecom confirm robust external scrutiny. NOS has not achieved a mission-locked structure (B Corp equivalent) and executive compensation linkage to sustainability targets was not confirmed. Score of 7 reflects dedicated governance, board oversight, TCFD-compatible public reporting, and strong external validation — short of 8/9 because executive pay linkage and full CSRD/TCFD disclosure were not independently confirmed.

No environmental fines, greenwashing rulings, regulatory actions, or credible NGO/activist criticism of NOS were found in research across InfluenceMap, DeSmog, or Portuguese press. NOS signed the European Declaration for a green digital transformation, indicating positive climate policy alignment. No evidence of anti-climate lobbying or membership in trade associations opposing climate policy. NOS is a national telecom in Portugal — it does not meet the infrastructure threshold for the fossil-economy structural deduction (it lacks global dominance, fossil-sector embedded position, or the necessity criterion). No material complicity with fossil-sector clients found — NOS is a connectivity provider, not a payment processor, insurer, or financial institution funding fossil extraction. Start at 8, no deductions apply. Score: 8.