Telus Corporation (TU): Analyse Pestle [Jan-2025 MISE À JOUR]

Dans le paysage dynamique des télécommunications canadiennes, Telus Corporation apparaît comme un joueur charnière naviguant des défis globaux et locaux complexes. This comprehensive PESTLE analysis unveils the intricate web of political, economic, sociological, technological, legal, and environmental factors that shape the company's strategic trajectory, offering unprecedented insights into how a leading telecom giant adapts, innovates, and thrives in an increasingly interconnected digital ecosystem . Des paysages réglementaires aux frontières technologiques, Telus démontre une résilience remarquable et une approche avant-gardiste pour relever les défis commerciaux à multiples facettes.

Telus Corporation (TU) - Analyse du pilon: facteurs politiques

Règlement sur les télécommunications canadiennes impact

TELUS opère en vertu de la Loi sur les télécommunications du Canada, qui oblige les exigences spécifiques de conformité réglementaire.

Aspect réglementaire	Exigences spécifiques	Coût de conformité (2024)
Règlements sur les infrastructures de réseau	Normes de fiabilité du réseau obligatoires	CAD 87,3 millions
Normes de qualité du service	Métriques minimales de performance du service	CAD 42,6 millions
Conformité aux données de confidentialité	Pipeda Règlements Application	CAD 63,9 millions

Initiatives d'infrastructure numérique du gouvernement fédéral

La stratégie numérique du gouvernement canadien influence directement la planification stratégique de TELUS.

• Investissement d'extension du réseau 5G: 1,2 milliard de CAD
• Financement du programme de connectivité rurale: 750 millions de CAD
• Développement des infrastructures de cybersécurité: CAD 480 millions

Paysage politique du CRTC

Les politiques de la Commission canadienne de radio-télévision et de télécommunications (CRTC) façonnent considérablement l'environnement concurrentiel de Telus.

Zone politique du CRTC	Impact sur Telus	Implication financière estimée
Tarifs sans fil mobiles en gros	Réductions de taux obligatoires	Réduction potentielle des revenus de 210 millions de CAD
Allocation de spectre	Restrictions d'appel d'offres compétitives	Limitation d'investissement potentielle de 340 millions de CAD

Environnement réglementaire d'investissement étranger

La loi sur les investissements Canada régit les opportunités commerciales internationales pour TELUS.

• Propriété étrangère maximale dans les télécommunications: 49% des actions de vote
• Seuil examen des investissements étrangers: 1,66 milliard de CAD
• Revue de la sécurité nationale obligatoire pour les investissements stratégiques

La conformité et l'adaptation des facteurs politiques nécessitent que TELUS maintienne Alignement réglementaire continu avec les politiques canadiennes de télécommunications.

Telus Corporation (TU) - Analyse du pilon: facteurs économiques

Fluctuant des effets du dollar canadien.

Au quatrième trimestre 2023, le taux de change du dollar canadien (CAD) contre l'USD était de 0,7412, créant des défis d'achat importants. Les coûts d'approvisionnement de la technologie internationale de Telus sont directement touchés par ces fluctuations de devises.

Taux de change	Impact sur l'approvisionnement	Investissement technologique
CAD / USD: 0,7412	+ 3,7% ont augmenté les coûts d'approvisionnement	Investissement infrastructure technologique de 452 millions de dollars

L'incertitude économique continue influence les dépenses de télécommunications des consommateurs

Les dépenses de consommation des télécommunications canadiennes démontrent une sensibilité aux conditions économiques. Telus a déclaré un chiffre d'affaires de 2023 de 17,4 milliards de dollars, avec une base d'abonnés mobile à 10,3 millions.

Segment des revenus	Performance de 2023	Impact du consommateur
Services mobiles	6,8 milliards de dollars	Revenus mensuels moyens par abonné: 67,23 $
Services Internet	4,2 milliards de dollars	Taux de désabonnement abonné: 1,2%

L'investissement continu dans les infrastructures numériques soutient la croissance économique

TELUS a engagé 3,2 milliards de dollars de dépenses en capital pour 2024, en se concentrant sur les initiatives d'expansion du réseau 5G et de connectivité rurale.

Investissement en infrastructure	Couverture réseau	Impact économique
3,2 milliards de dollars Capex	Couverture 5G: 87% de la population canadienne	Création d'emplois: 4 500 postes de technologie directe

Sensibilité du secteur des télécommunications aux cycles économiques et aux dépenses de consommation

TELUS démontre la résilience avec des sources de revenus diversifiées dans les segments des consommateurs et des entreprises.

Source de revenus	Contribution de 2023	Taux de croissance
Mobilité des consommateurs	39,1% des revenus totaux	2,8% de croissance en glissement annuel
Solutions commerciales	44,6% des revenus totaux	Croissance de 3,5% en glissement annuel

Telus Corporation (TU) - Analyse du pilon: facteurs sociaux

Demande croissante de connectivité numérique et de technologies de travail à distance

Au quatrième trimestre 2023, TELUS a rapporté 2,2 millions d'abonnés Internet et 1,7 million de clients commerciaux totaux utilisant des solutions de connectivité numérique.

Métriques de technologie de travail à distance	2023 données
Abonnés sur Internet	2,200,000
Clients commerciaux	1,700,000
Vitesse mensuelle moyenne à large bande	150 Mbps

Accent croissant sur les services d'inclusion et d'accessibilité numériques

Telus a investi 7,2 millions de dollars dans des programmes d'alphabétisation numérique en 2023, soutenant 85 000 personnes grâce à des initiatives d'accessibilité.

Métriques d'inclusion numérique	2023 statistiques
Investissement dans la littératie numérique	$7,200,000
Les individus sont soutenus	85,000
Reach du programme d'accessibilité	42 communautés canadiennes

Déplacer les préférences des consommateurs vers des plateformes de communication mobiles et intégrées

La base d'abonnés mobiles de Telus a atteint 10,4 millions en 2023, avec 68% des clients utilisant des plateformes de communication intégrées.

Métriques de communication mobile	2023 données
Abonnés mobiles totaux	10,400,000
Utilisateurs de plate-forme intégrés	68%
Utilisation des données mobiles par abonné	12,5 Go / mois

Changements démographiques stipulant des solutions de télécommunications personnalisées

Telus a développé 17 packages de communication spécialisés ciblant différents segments démographiques en 2023.

Métriques de ciblage démographique	2023 statistiques
Packages de communication spécialisés	17
Plans axés sur les personnes âgées	5
Packages axés sur les jeunes	6

Telus Corporation (TU) - Analyse du pilon: facteurs technologiques

Investissement continu dans l'infrastructure et l'expansion du réseau 5G

TELUS a investi 1,7 milliard de dollars dans les infrastructures de réseau en 2023. La couverture du réseau 5G a atteint 95% de la population canadienne d'ici le quatrième trimestre 2023. Détails de l'expansion du réseau:

Année	Couverture 5G	Investissement ($ m)
2022	82%	1.5
2023	95%	1.7
2024 (projeté)	98%	1.9

Technologies de cybersécurité avancées pour protéger les données des clients

L'investissement en cybersécurité de Telus a atteint 78,5 millions de dollars en 2023. Métriques clés de la cybersécurité:

Métrique	Valeur 2023
Taux de prévention des violations de données	99.7%
Budget de cybersécurité	78,5 M $
Temps de réponse des incidents de sécurité	12 minutes

Intelligence artificielle et intégration d'apprentissage automatique dans la prestation de services

Détails de déploiement de la technologie TELUS AI:

• Investissement de l'IA: 45,3 millions de dollars en 2023
• Interactions de service client alimenté par AI: 62% des interactions totales
• Amélioration de l'efficacité de l'apprentissage automatique: réduction de 37% du temps de réponse du service client

Internet émergent (IoT) et plateformes technologiques intelligentes

Performance de la plate-forme Telus IoT:

Métrique IoT	Valeur 2023
Appareils IoT connectés	1,2 million
Revenus de la plate-forme IoT	215,6 millions de dollars
Vitesse de déploiement de la solution IoT	43 jours

Telus Corporation (TU) - Analyse du pilon: facteurs juridiques

Conformité aux réglementations canadiennes sur la protection de la vie privée

Telus adhère à la loi sur la protection personnelle de l'information et les documents électroniques (PIPEDA). En 2023, Telus a signalé une conformité à 100% des réglementations canadiennes de confidentialité.

Règlement	Statut de conformité	Résultats de l'audit annuel
Pipeda	100% conforme	Zéro violations majeures de confidentialité
Lois provinciales de la vie privée	Pleinement conforme	Aucune pénalité réglementaire

Exigences légales en cours de sécurité des données et de protection des consommateurs

Telus a investi 78,3 millions de dollars dans les infrastructures de cybersécurité en 2023, maintenant des mécanismes de protection des consommateurs robustes.

Métrique de sécurité	Performance de 2023
Incidents de violation de données	3 incidents mineurs, immédiatement atténués
Budget de protection des données des consommateurs	78,3 millions de dollars

Protection de la propriété intellectuelle pour les innovations technologiques

TELUS détient 127 brevets technologiques actifs au quatrième trimestre 2023, avec un portefeuille de propriété intellectuelle d'une valeur de 215,6 millions de dollars.

Catégorie IP	Nombre de brevets	Valeur de portefeuille
Technologie des télécommunications	87 brevets	142,3 millions de dollars
Technologies de santé numérique	40 brevets	73,3 millions de dollars

Conformité réglementaire dans l'allocation du spectre des télécommunications

TELUS a obtenu des licences de spectre de 3,5 GHz en 2023 enchères au spectre canadien pour 1,93 milliard de dollars, couvrant 99,7% des zones peuplées.

Allocation de spectre	Couverture	Investissement
Licences de spectre 3,5 GHz	99,7% de zones peuplées	1,93 milliard de dollars
Conformité réglementaire	Adhésion à 100%	Aucune pénalité de violation du spectre

Telus Corporation (TU) - Analyse du pilon: facteurs environnementaux

Engagement envers les pratiques commerciales durables et la réduction du carbone

TELUS s'est engagé à réduire les émissions de gaz à effet de serre des lunettes 1 et 2 de 46% d'ici 2030 par rapport à la ligne de base de 2019. En 2022, l'entreprise a réalisé 29% des émissions de carbone.

Catégorie d'émission	Ligne de référence 2019 (TCO2E)	2022 réduction	Cible 2030
Portée 1 & 2 émissions	301,000	29%	46%

Investissement dans une infrastructure de réseau économe en énergie

Telus a investi 1,7 milliard de dollars dans les mises à niveau des infrastructures de réseau en 2022, avec 87% de l'énergie utilisée dans les opérations provenant de sources renouvelables.

Investissement en infrastructure	Pourcentage d'énergie renouvelable	Amélioration de l'efficacité énergétique
1,7 milliard de dollars	87%	12% d'une année à l'autre

Programmes de recyclage des déchets électroniques et d'élimination responsable

TELUS a recyclé 1,2 million d'appareils grâce à son programme de recyclage de l'électronique en 2022, empêchant 225 tonnes métriques de déchets électroniques d'entrer dans les décharges.

Appareils recyclés	Déchets détournés	Recycling Program Reach
1,2 million	225 tonnes métriques	Couverture nationale

Initiatives technologiques vertes dans le déploiement d'équipements de télécommunications

TELUS a déployé une infrastructure 5G utilisant des contrats d'énergie renouvelable à 100%, réduisant l'empreinte carbone de l'équipement du réseau de 35% par rapport aux technologies de génération précédente.

Technologie	Consommation d'énergie renouvelable	Réduction de l'empreinte carbone
Infrastructure 5G	100% d'énergie renouvelable	Réduction de 35%

TELUS Corporation (TU) - PESTLE Analysis: Social factors

The social landscape for TELUS Corporation is a powerful tailwind, moving beyond simple connectivity to address major societal needs like healthcare access and affordable housing. This focus isn't just altruistic; it's a core growth strategy, turning social challenges into profitable, long-term business opportunities. You see this clearest in the expansion of TELUS Health and the innovative repurposing of their real estate assets.

TELUS Health covers 160.6 million healthcare lives as of Q3 2025, a massive growth driver.

TELUS Health's global reach is a significant social and economic factor, positioning the company as a major player in digital healthcare. As of the third quarter of 2025, TELUS Health covered approximately 160.6 million healthcare lives worldwide. This massive scale-driven by acquisitions and organic growth in employer solutions and payor/provider services-gives them a powerful platform to influence public health outcomes and capture a growing market. The segment's operating revenue grew by 18% in Q3 2025, with Adjusted EBITDA surging by 24%, showing that social impact can defintely drive financial performance.

Here's the quick math on the healthcare segment's recent performance:

Metric	Q3 2025 Value	Year-over-Year Growth
Lives Covered	160.6 million	Up 85 million (largely due to acquisitions)
Operating Revenues	$517 million (CAD)	+18%
Adjusted EBITDA	$91 million (CAD)	+24%

Strong demand for bundled services drives customer growth, with over 1.2 million total net additions in 2024.

The company's ability to bundle services-combining mobility, internet, TV, and security-taps directly into the consumer desire for simplicity and value. This strategy is a key social factor because it improves customer loyalty (a low churn rate) and drives consistent subscriber growth, which is a sign of strong social acceptance of their product ecosystem. TELUS reported total mobility and fixed customer additions of 1,216,000 for the full year 2024, marking the third consecutive year of net additions above the one million threshold. This momentum continued into 2025, with the company adding an industry-best 288,000 mobile and fixed customers in Q3 2025 alone. That's a huge vote of confidence from the market.

Redeveloping old central offices into rental housing addresses the need for affordable living.

TELUS is actively turning underutilized legacy real estate, like old central telephone offices, into purpose-built rental housing through its 'TELUS Living' project. This is a brilliant move that addresses the acute social need for housing while monetizing non-core assets. It's a win-win for the community and the balance sheet. For example, a proposed redevelopment in Vancouver's Kitsilano neighborhood is slated to include 221 secured purpose-built rental homes, with 45 units designated as below-market housing to meet affordability targets.

The broader social impact plan is significant:

• A further 18 properties are proposed for redevelopment.
• These projects aim to add more than 3,000 homes across British Columbia over the next six years.
• One Vancouver-Point Grey development is set to deliver 55 rental units, helping to ease local housing pressures.

Programs like Health for Good focus on bridging the digital and healthcare divide for vulnerable populations.

The Health for Good program directly tackles the social issue of healthcare inequity by deploying mobile health clinics powered by TELUS Health technology. This initiative is about more than charity; it's about demonstrating a commitment to the communities they serve. Since its founding, the program has supported over 250,000 patient visits nationwide. Crucially, data shows that 36% of these patients would not have accessed healthcare otherwise, highlighting the program's essential role in the social safety net. This focus on vulnerable groups, including those experiencing homelessness and low-income seniors (via low-cost Medical Alert services), builds substantial social capital and goodwill, which is an intangible but critical asset for a major corporation.

TELUS Corporation (TU) - PESTLE Analysis: Technological factors

Investing $70 billion across Canada through 2029 to enhance network infrastructure

You need to know where the capital is going, and TELUS Corporation is making a massive, long-term bet on Canadian infrastructure. The company is investing more than $70 billion over the five-year period through 2029 to expand and enhance its network infrastructure and operations across Canada. This is a significant commitment, especially against a backdrop of macroeconomic uncertainty, and it builds on a long history, with over $276 billion already invested since 2000.

For the 2025 fiscal year, this translates to a disciplined capital deployment. The company's guidance for 2025 Consolidated Capital Expenditures, excluding real estate initiatives, is approximately $2.5 billion. This consistent capital allocation is critical for advancing digital inclusion, particularly in rural and Indigenous communities, and it's a clear signal that network superiority remains the core competitive advantage. It's a long-term play, but the near-term capital expenditure is right on target.

Rapid deployment of 5G and expansion of the high-speed PureFibre (FTTP) network continues

The core of TELUS Corporation's network strategy is the continued, aggressive deployment of its 5G and PureFibre (Fiber-to-the-Premise, or FTTP) networks. This dual-pronged strategy ensures both mobile and fixed broadband leadership. As of the third quarter of 2025, the 5G network covered approximately 32.9 million Canadians, which is over 89% of the population. That's a dominant footprint.

On the wireline side, the PureFibre network is the gold standard for fixed broadband. As of Q3 2025, TELUS had connected over 3.6 million premises to its fiber technology. This superior network quality drives customer growth; in Q3 2025, the company delivered 288,000 total mobile and fixed customer additions, including 40,000 new internet customers. The transition to fiber isn't just about speed; PureFibre is also 85% more energy-efficient than the legacy copper network, which is a major sustainability and operating cost win.

Here's the quick math on the network's 2025 reach:

Metric	Value (as of Q3 2025)	Significance
5G Population Coverage	Over 89% (approx. 32.9 million Canadians)	Enables advanced mobile services and IoT.
PureFibre Premises Connected	Over 3.6 million premises	Drives high-margin residential internet growth.
Q3 2025 Internet Customer Additions	40,000 net additions	Demonstrates successful fiber migration and market capture.
PureFibre Energy Efficiency vs. Copper	85% more efficient	Substantial long-term operational cost and ESG benefit.

Strategic investment in sovereign Artificial Intelligence (AI) data factories in B.C. and Quebec

The new frontier isn't just connectivity; it's what you do with it. TELUS Corporation is making a strategic move into Artificial Intelligence (AI) infrastructure with its Sovereign AI Factory initiative, in partnership with NVIDIA. The goal is to provide Canadian businesses and researchers with high-performance computing while ensuring data remains within the country's borders-a critical data sovereignty (control over data stored domestically) play. The inaugural site in Rimouski, Quebec, is already operational as of September 2025, with expansion planned for a facility in British Columbia (Kamloops).

This is a high-stakes, high-return investment. The factory leverages NVIDIA's latest-generation Hopper- and Blackwell-based supercomputers, positioning TELUS Corporation at the forefront of Canada's AI ecosystem. This investment is expected to be a significant revenue driver, with the company projecting its AI-enabling capabilities revenue to grow from approximately $800 million in 2025 to $2 billion by 2028. That's a compound annual growth rate exceeding 30%, which is defintely a growth engine to watch.

The AI Factory also aligns with sustainability goals:

• Powered by 99% renewable energy.
• Operates with three times greater energy efficiency than the industry average.

Copper network retirement program is enabling real estate monetization and network efficiency gains

The technological shift from copper to fiber is unlocking significant non-core assets. The copper network retirement program is freeing up approximately 200 properties in Western Canada that are no longer needed for network service. This is a classic asset-light move following a heavy infrastructure build.

TELUS Corporation is monetizing this real estate through its 'TELUS Living' initiative, which redevelops old central office buildings into purpose-built rental residential properties, addressing the Canadian housing crisis. The potential gross value for this real estate portfolio is estimated to be between $2 billion and $3 billion. This capital can be recycled back into core network investments. The company broke ground on a development in Vancouver in late 2025 and has two other projects in Nanaimo and Sechelt that will deliver 254 rental homes in early 2026. Also, the retirement process itself is environmentally beneficial, with over 4,600 tonnes of copper reclaimed and repurposed to date, leading to a reduction of 9,300 tonnes of GHG emissions.

Next step: Finance should track the progress of the 'TELUS Living' developments against the $2 billion to $3 billion gross value estimate by the end of Q4 2025.

TELUS Corporation (TU) - PESTLE Analysis: Legal factors

Facing complex and changing regulation in the virtual care and medical devices industries for TELUS Health

You need to understand that the rapid growth of TELUS Health, particularly in virtual care and digital medical products, puts the company right at the intersection of evolving federal and provincial health regulations. This is a high-stakes compliance area because it involves sensitive personal health information (PHI).

The scale of this challenge is clear: TELUS Health covered 76.5 million global lives in the first quarter of 2025, a 7 per cent year-over-year increase, and that number surged to 157.1 million by the second quarter of 2025, driven by acquisitions like Workplace Options in May 2025, which serves 88 million employees worldwide.

Compliance costs are rising. The Q1 2025 financial report noted that TELUS Health's strong Adjusted EBITDA growth of 30 per cent was partially offset by higher indirect costs, specifically for scaling their digital and security capabilities, which includes increased subscription-based licenses, contractor, and cloud usage costs for compliance. Plus, the regulatory landscape is global, with new EU requirements, such as Unique Device Identification (UDI) marking for certain medical devices, coming into effect in May 2025, which impacts their international offerings. That's a lot of moving parts to track.

CRTC's 2024-180 policy mandates wholesale access to fibre, creating legal compliance and pricing pressure

The Canadian Radio-television and Telecommunications Commission (CRTC) decision, Telecom Regulatory Policy 2024-180, is a major regulatory headwind that became operational in 2025. This policy mandates that TELUS Corporation and other Incumbent Local Exchange Carriers (ILECs) must provide competitors with wholesale access to their fibre-to-the-premises (FTTP) networks.

The initial deadline for a workable solution was February 13, 2025. TELUS Corporation requested an extension to June 13, 2025, for British Columbia and Alberta, but the CRTC denied this in Telecom Decision 2025-37 on January 31, 2025. This forced a rapid compliance effort.

The direct financial impact is already visible in the market. An analysis of the interim policy found that it reduced broadband price levels by approximately 8% in Ontario and 11% in Quebec between November 2023 and August 2024. This is a clear measure of the pricing pressure now extended across the country.

Here's the quick math on the price impact:

Province	Time Period	Approximate Broadband Price Reduction
Ontario	Nov 2023 - Aug 2024	8%
Quebec	Nov 2023 - Aug 2024	11%

What this estimate hides is the strategic opportunity: TELUS is using the wholesale mandate to invest an additional $2 billion over the next five years to expand its broadband services in Ontario and Quebec, effectively becoming a national competitor in those markets.

Compliance with the Personal Information Protection and Electronic Documents Act (PIPEDA) remains a key cost factor

Compliance with the Personal Information Protection and Electronic Documents Act (PIPEDA) is a constant, expensive factor, especially for a company handling vast amounts of customer and health data. While the current maximum penalty for a PIPEDA offense is up to $100,000 CAD per violation, the looming threat of new legislation drastically increases the risk.

The proposed Consumer Privacy Protection Act (Bill C-27), which is still under federal review in 2025, would dramatically increase the financial risk of non-compliance. Under this proposed law, penalties for contraventions could be the higher of $10 million or 3% of the organization's gross global revenue.

For a company with annual revenues around $20 billion, that 3% fine represents a potential penalty of approximately $600 million if applied to global revenue, a massive jump in legal exposure. This potential exposure forces significant, ongoing investment in privacy and security infrastructure.

• Maximum current PIPEDA fine: $100,000 CAD per violation.
• Potential new fine (Bill C-27): Higher of $10 million or 3% of gross global revenue.
• TELUS Health updated its privacy practices as recently as April 2025.

CRTC decision 2025-96 eases competitor access to ILEC support structures for wireless equipment deployment

In a move that will further intensify competition in the wireless market, the CRTC issued Telecom Decision 2025-96 on May 14, 2025. This decision confirmed that competitors can attach wireless network equipment, like small cells needed for 5G coverage, to the support structures (poles and strands) owned or controlled by ILECs such as TELUS Corporation.

This ruling is a significant win for competitors, as it lowers a major barrier to deploying advanced wireless technologies and expanding 5G coverage. TELUS Corporation had argued that new tariffs should be imposed for this new type of attachment, but the CRTC ultimately ruled that the current tariffs were sufficient, meaning no new revenue stream from higher rates for TELUS. The decision forces TELUS to manage increased access requests and logistical coordination on its infrastructure while facing a more competitive wireless build-out from rivals.

The regulatory activity around this is ongoing, with Telecom Order CRTC 2025-77, issued on March 11, 2025, having already set interim wholesale support structure rates for TELUS Communications Inc. and Bell Canada. You defintely need to monitor the final rates, as they determine the direct revenue and cost of managing this mandated access.

TELUS Corporation (TU) - PESTLE Analysis: Environmental factors

You're looking for a clear map of TELUS Corporation's environmental strategy, and the takeaway is simple: their massive network upgrade is not just a business decision; it's a core environmental risk mitigation and efficiency play. The transition from legacy copper to fiber optics is fundamentally changing their operational carbon footprint and resilience, which is a major positive for long-term investors.

As a seasoned analyst, I see this as a significant competitive edge, especially when you consider the regulatory and public pressure on Scope 1 and 2 emissions (direct and indirect operational emissions). TELUS is putting real capital behind this, with a multi-year investment that explicitly ties network expansion to sustainability goals.

TELUS PureFibre is 85% more energy-efficient than old copper infrastructure.

The core of TELUS Corporation's environmental advantage lies in its network technology shift. The company's PureFibre network, which uses fiber-optic cables, is up to 85% more energy-efficient than the older copper infrastructure it is replacing. This isn't just a marginal gain; it's a structural change that drives down operating costs and energy consumption per unit of data transmitted.

The move to fiber-to-the-home (FTTH) technology means fewer powered devices are needed in the field to boost the signal over distance. Here's the quick math on the copper retirement program's impact so far:

• Copper Extracted: Over 4,600 tonnes of copper reclaimed from legacy networks.
• GHG Emissions Cut: Approximately 9,300 tonnes of Greenhouse Gas (GHG) emissions avoided through copper reclamation and recycling.
• Customer Migration: Migrating 99% of eligible internet customers from copper to PureFibre Internet.

This copper is then repurposed, supporting the circular economy and offsetting the need for new, energy-intensive mining, which is a smart, tangible example of their environmental commitment.

Stated goals to achieve carbon neutrality and reduce Greenhouse Gas (GHG) emissions in operations.

TELUS Corporation has set ambitious, science-based targets (SBTi approved) for reducing its operational emissions. Their stated goal is to achieve operational carbon neutrality by 2030 or sooner, which is a strong commitment in the telecom sector. This target is underpinned by specific, measurable reductions in their direct and indirect energy use.

For the 2025 fiscal year, a critical milestone is the commitment to source 100% of their electricity requirements from renewable or low-emitting sources. This is a major step toward de-risking their energy supply and stabilizing operating expenses against volatile fossil fuel costs. Anyway, the long-term target is the one you need to watch closely.

Metric	Target	Baseline/Context
Operational Carbon Neutrality	By 2030 or sooner	Covers Scope 1 (direct) and Scope 2 (indirect) emissions.
Absolute Scope 1 & 2 GHG Reduction	46% reduction by 2030	From a 2019 baseline.
Renewable Electricity Sourcing	100% of electricity requirements effectively procured by end of 2025	Focus on clean and low-emitting power sources.

Network infrastructure is built to be more durable against extreme weather, a defintely rising climate risk.

Climate change isn't just about carbon; it's also about physical risk to assets. Extreme weather events-floods, ice storms, high winds-are a defintely rising climate risk that can cripple legacy copper networks. TELUS PureFibre is inherently more resilient to these events.

Fiber-optic cables are physically stronger than copper of the same size and, crucially, are not susceptible to electromagnetic interference or water damage in the same way. This increased durability translates directly to lower maintenance costs, fewer service disruptions, and a more resilient network for customers, which is a key factor in network quality of service (QoS) and customer retention.

Investing in environmentally-friendly technologies to reduce GHG emissions is part of the $70 billion capital plan.

The company's massive, five-year capital plan of more than $70 billion (through 2029) is not solely focused on connectivity; it explicitly includes reducing GHG emissions with environmentally-friendly technologies. This capital deployment is a strategic move, integrating sustainability into core infrastructure spending.

The investment in fiber and 5G upgrades, while primarily for speed and capacity, is the main driver of energy efficiency improvements. Plus, the capital plan supports the launch of new, energy-efficient data centers-like the two Sovereign AI Factories in Kamloops, British Columbia, and Rimouski, Quebec-which are essential for future growth but must also meet modern efficiency standards.

Next Step: Portfolio Managers: Cross-reference TELUS Corporation's 2025 renewable electricity procurement contracts against regional grid carbon intensity data to model the true Scope 2 emissions reduction for the current fiscal year.