HIGH POINT, N.C.--(BUSINESS WIRE)--Lumos, a leading 100% Fiber Optic Internet and Total Home Wi-Fi service provider based in High Point, North Carolina, today announced its participation in the Science Based Targets initiative (SBTi), an initiative aimed at reducing corporate greenhouse gas emissions (GHG).
By 2030, Lumos has committed to reducing its absolute scope 1 and 2 GHG emissions by 42%, scope 3 capital goods GHG emissions by 51.6% per foot of fiber installed and scope 3 GHG emissions from downstream leased assets by 51.6% per customer. All percentages are measured against base-level 2022 GHG data.
"We are proud of the progress we have made in sustainability and are eager to continue the upward trajectory," said Lumos CEO Brian Stading. "We strongly believe fiber internet is the future. Fiber is significantly faster than traditional copper wires, more energy efficient, requires fewer manufacturing materials and lasts longer."
In addition to participating in SBTi's campaign, Lumos signed a $1.1B sustainability-linked infrastructure financing in 2023 to fund fiber expansion plans across the Mid-Atlantic. The deal was the first project finance style fiber-to-the-home (FTTH) infrastructure financing in the U.S. for an existing and integrated FTTH platform and the first U.S. FTTH sustainability-linked financing structure.
The Science Based Targets initiative (SBTi) is a corporate climate action organization that enables companies and financial institutions worldwide to play their part in combating the climate crisis. SBTi develops standards, tools and guidance that allow companies to set greenhouse gas (GHG) emissions reduction targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050.
Lumos understands the urgency for organizations to take action toward the goals of the Science Based Targets initiative (SBTi) and is committed to sustainable business practices. For more information about Lumos' sustainability goals and impact on local communities, please visit www.lumosfiber.com/about.
About Lumos: Lumos provides 100% Fiber Optic Internet, whole-Home Wi-Fi, voice and streaming services, to more than 375,000 homes and businesses across Virginia, North Carolina, and South Carolina. We believe that the possibilities of tomorrow cannot be built on the infrastructure of yesterday. That’s why we’re building a 100% Fiber Optic network from the ground up for families, businesses, and communities, backed by local, expert customer service. An Internet built for that most hopeful of all things – the future. Because whatever the future holds, we make it faster. Learn more at www.LumosFiber.com.
About the Science Based Targets initiative: The Science Based Targets initiative (SBTi) is a global body enabling businesses to set ambitious emissions reductions targets in line with the latest climate science. It is focused on accelerating companies across the world to halve emissions before 2030 and achieve net-zero emissions before 2050. The initiative is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments. The SBTi defines and promotes best practice in science-based target setting, offers resources and guidance to reduce barriers to adoption, and independently assesses and approves companies’ targets. www.sciencebasedtargets.org @sciencetargets.
