GlobalData offers a comprehensive analysis of Iridium Communications, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Iridium Communications‘s ESG performance. GlobalData’s company profile on Iridium Communications offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
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Iridium Communications, a global satellite communications company, is committed to reduce its greenhouse gas (GHG) emissions. In terms of carbon emissions trends, Iridium's stationary combustion-related scope 1 emissions have remained relatively stable, reporting 223 mtCO2e in FY 2022 compared to 227 mtCO2e in FY 2021. Scope 2 emissions, both location-based and market-based, have exhibited a slight decrease from 6,849 and 6,875 mtCO2e in FY 2021 to 5,800 and 5,824 mtCO2e in FY 2022. However, corporate travel emissions (scope 3) have shown an increase, rising from 420 mtCO2e in FY 2020 to 1,341 mtCO2e in FY 2022.
Iridium has taken steps to reduce its emissions. The company is focused on creating systems for data collection and ensuring data quality, which is the first step towards developing low-carbon solutions for its operations and business strategy. Iridium has also launched the Iridium Edge Solar, a solar-powered device that offers real-time GPS tracking and communication capabilities, contributing to the development and expansion of low-emission goods and services.
Iridium is actively evaluating next steps to align its operational footprint with science-based emissions reduction targets. The company partners with external consultants to assess carbon emissions and discloses its emissions through the Carbon Disclosure Project (CDP). Iridium considers potential risks, drivers, time frame, likelihood, and financial impact related to climate change and discloses these risks via the CDP.
In conclusion, Iridium Communications is actively working towards to reduce its GHG emissions. Through initiatives like the Iridium Edge Solar, Iridium is also contributing to the development of low-emission goods and services. The company's commitment to sustainability and its efforts to transition to a low-carbon economy demonstrate its dedication to mitigating climate-related risks and contributing to a more sustainable future.
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