Emerging Risks
The risk landscape is ever evolving. New and future risks are monitored and assessed as they emerge. As an example, the following emerging risks are on our radar.
Transitional climate risk
Risks related to negative impact associated with the transition to a change in climate. How e.g. society, technology, the market, and supply chains might change due to climate changes is unknown, but it will likely have an impact on us in the coming years.
Impact
In Tele2's case transitional climate risk could be realized through failure to meet stakeholder demands on corporate climate action, failure to meet climate-related targets, increased prices of products and materials due to imposing of carbon taxes, and increased costs due to unreliable access to renewable energy. All of the above leading to potential financial and reputational loss.
Mitigating actions
Tele2 has actions in place to mitigate our impact on the climate, as well as actions to mitigate the effects climate change might have on us.
Tele2 has set ambitious science-based targets for climate, and our progress towards these targets will be a key ESG target for us going forward.
Through stakeholder dialogue and active sustainability efforts Tele2 aims to meet all stakeholder demands on corporate climate action. Changes in prices and access to energy are considered as a part of operational processes in these areas. Increase capacity and know-how of how to deal with climate risks and what these entail, dispersing climate change knowledge throughout the organization.
Please refer to our Annual and Sustainability report and Tele2’s Climate Transition Plan for more detail.
Cyber risk
Rapidly evolving new technology means new ways for attackers to target Tele2 network and operations. As an example, AI's dual role in cybersecurity is expanding, with this not only enhancing our defence mechanisms but also at the same time increasing attackers’ capabilities to launch sophisticated attacks. As an example, more convincing smishing, phishing or spear-phishing attacks.
Impact
Successful cyber-crime attacks could impact Tele2 negatively, this through for example data breaches, financial loss, making our services unavailable.
Unauthorized access to Tele2's infrastructure could lead to significant damage to Tele2's ability to provide services to the markets where we operate.
Mitigating actions
With continuous efforts, Tele2 expands and invests, to improve both our defensive and offensive capabilities within the cyber security domain. We monitor and evaluate the effectiveness of cybersecurity controls and posture for mitigating the risk of destructive attacks.
By continuously investing in our employee’s awareness education, we create resilience against attacks, example phishing, in the organization.
We have ambitious targets to develop and evolve an adaptive, context-aware security architecture. By this we close attack vectors and create an operational environment where we secure confidentiality, integrity, and availability of our services.