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  • 04 Aug 2021
  • ·
  • Sustainability

FTSE Russell confirms Cellnex progress in ESG

The company is joint top of the ranking of the mobile telecommunications sub-sector of the FTSE4Good index


  • The Company improves its global score to 4.4 out of 5, far outstripping the average rating for the telecommunications industry, which is 2.9.
  • It maintains the highest rating (5 out of 5) in the Governance section, which includes corporate governance, fiscal transparency and anti-corruption measures; as well as human rights and community, and labour standards, included in the section on social issues.
  • Cellnex consolidates its position in the Top 5 companies in the Mobile Telecommunications subsector.


Barcelona, 4 August 2021. For the fifth consecutive year, FTSE Russell has again ratified Cellnex Telecom as a constituent of the FTSE4Good sustainability index, as part of the annual reviews it conducts to assess the progress of companies and their continued presence in this selective international index.

The FTSE4Good recognises the good practices of listed companies in terms of environmental, social and corporate governance (ESG) aspects. Cellnex has been part of this group of companies since January 2017.

In its 2021 review, FTSE4Good awarded Cellnex an overall score of 4.4 out of 5 – two points better than last year – and way above the average for the telecommunications sector, which was 2.9 out of 5, and that of the mobile telecommunications sub-sector, which was 3 out of 5. With this score, Cellnex jointly leads the ranking of the mobile telecommunications sub-sector, consolidating its position in the Top 5, in this sustainability index.

The index also highlights Cellnex’s performance in governance, in which the company attained the maximum score (5 out of 5) for the third year running, both in aspects related to corporate governance and in matters of fiscal transparency and anti-corruption measures. In the social section, the company also attained the top score in respect of human rights and relationship with the community and in labour standards. In this same category, Cellnex excels in the social management of its supply chain, with a rating of 4.

For environmental management, FTSE Russell awarded 4 out of 5 for the company’s action on environmental management throughout its supply chain, with room for improvement in combatting climate change (3 out of 5) which the company continues to work on with initiatives such as reducing emissions with science-based targets. Despite this, the infrastructure operator’s environmental commitment outstrips that of the telecommunications sector and the mobile telecommunications sub-sector, both with an average of 1.9 out of 5.

The company also exceeds the average assessments of the Spanish companies included in the selective index in each of the three categories (governance, environment and social actions). Cellnex obtained a total score of 4.4 compared with an average of 3.2 for Spanish companies.

About FTSE4Good

The FTSE4Good series of indexes is designed to measure the degree of compliance of companies that demonstrate a high level of competence in their environmental, social and governance practices.

These indexes are used by many financial market players for creating and evaluating so-called responsible investment funds and other products that include environmental, social and corporate governance factors in their investment decisions.

The indexes identify the companies that best manage the risks associated with these factors and are used to track index funds, for structured financial products and as a reference indicator. They are also the benchmark for making comparisons between investments.

ESG ratings, which govern entry and ratification in the FTSE4Good indexes, are used by investors wishing to take account of environmental, social and corporate governance factors in their investment selection processes. They are also used as a reference framework to assess corporate commitment and corporate governance.

About Cellnex Telecom

Cellnex Telecom is Europe’s leading operator of wireless telecommunications and broadcasting infrastructure, with a portfolio of more than 130,000 sites, some 93,000 of which are already operational, and the rest in the process of conclusion or planned roll-outs up to 2030. Cellnex operates in Spain, Italy, the Netherlands, France, Switzerland, the UK, Ireland, Portugal, Austria, Denmark, Sweden and Poland.

Cellnex’s business is structured into four major areas: telecommunications infrastructure services; audiovisual broadcasting networks, security and emergency service networks and solutions for smart urban infrastructure and services management (Smart cities and the “Internet of Things” (IoT)).

The company is listed on the continuous market of the Spanish stock exchange and is included in the selective IBEX 35 and EuroStoxx 600 indexes. It is also included in the main sustainability indexes, such as the Carbon Disclosure Project (CDP), Sustainalytics, FTSE4Good, MSCI and Standard Ethics.

Cellnex’s reference shareholders include GIC, Edizione, Canada Pension Plan, CriteriaCaixa, Wellington Management Group, Capital Group, Blackrock, Fidelity and Norges Bank.

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