The framework was developed in accordance with the International Capital Market Association’s Sustainability-Linked Bond Principles (SLBP) and outlines the process TELUS will follow when issuing new sustainability-linked bonds.

Under this framework, TELUS is reinforcing its commitment to reduce greenhouse gas emissions by 46 per cent by 2030. Should TELUS fail to achieve this target, the company will offer a premium payment amount or step-up margin amount, as applicable.

“Our team’s passion to progress our sustainability goals, enabled by our leading governance practices and globally admired culture, is foundational to our leadership in social capitalism,” said Darren Entwistle, President and CEO.

“In this regard,” he added, “today’s announcement of the first Sustainability-Linked Bond Framework in Canada is an exemplification of our longstanding belief in the synergistic relationship between doing well in business and doing good in the communities where we operate.”

The GHG reduction target has been approved by the Science Based Targets initiative (SBTi), which promotes best practices in science-based target setting and independently assesses targets set by companies.

TELUS plans to release an annual report on its GHG reduction target, demonstrating its support in the global fight against climate change.

“Thanks to the unparalleled efforts of our team and our track record of surpassing our goals in reducing our energy use and greenhouse gas emissions,” added Mr. Entwistle, “we have set new ambitious environmental and sustainability targets as we strive to improve the environmental, social, economic and health outcomes of citizens in communities we serve on a global basis.”

TELUS is one of the big three wireless service providers in Canada.

TELUS stock is up 0.29 per cent, trading at $27.57 per share as of 12:54 pm ET.