Cellnex is committed to protecting the environment as part of its company strategy, formalizing this through its Environment and Climate Change Policy. This policy applies to all of the Company's geographies and sets out basic principles for action in its own operations, with its suppliers and business partners, and in interactions with stakeholders in the value chain. In 2024, the Board of Directors approved an update to this Policy to incorporate Cellnex Net-Zero commitment, the TNFD as a framework on natural capital and biodiversity issues, and updates to other legal frameworks (CSRD, CSDDD, and others).

The Environment & Climate Change Policy includes principles for action such as minimizing greenhouse gas emissions to achieve Net-Zero target, protecting biodiversity, ensuring responsible and circular use of resources, and strengthening environmental stewardship. It extends commitments to environmental management, mitigation, and adaptation to climate change and protection of natural capital in the value chain.

Cellnex has established commitments and lines of action to address climate change mitigation and adaptation, protection of natural capital, and environmental management. This includes the establishment and monitoring of GHG emission reduction targets, deployment of a decarbonisation plan, disclosure of carbon footprint results, analysis of infrastructure vulnerability to climate change, and promotion of infrastructure resilience through climate change adaptation measures.

Acute physical risk is projected in the short term (2020-2040) and long term (2070-2100) at the sites caused by extreme climate events. Chronic physical risk is caused by the increase in temperature and sea level rise projected up to 2100. In the realistic scenario, 2.3% of sites between 2040-2070 and 6.5% of sites between 2070-2100. In the worst-case scenario, 6% of sites between 2040-2070 and 23% of sites between 2070-2100.