Yahoo Finance TELUS investing $24 billion in Ontario through 2028 to enhance network services, support sustainability and fuel innovation
Investment to help build next generation ORAN network and support positive economic, health and social outcomes for Ontarians
VANCOUVER, BC, May 21, 2024 /CNW/ - TELUS is investing more than $24 billion to significantly expand and improve its network infrastructure and operations across Ontario over the next five years, supporting innovation, growth and strong, vibrant communities. It's also part of a larger commitment to deploy $73 billion across Canada by 2028 to develop infrastructure, improve sustainability and advance its network technology. These investments are critical to connecting Ontarians with the people, resources and information that enrich their lives and underscores TELUS' unwavering commitment to advancing technology and connectivity nationwide. Since 2000, TELUS has invested more than $68 billion in Ontario to build and develop network infrastructure, operations and spectrum, connecting families and businesses to TELUS' world-leading 5G and TELUS PureFibre networks and cementing TELUS' position as the nation's fastest internet service provider.*
"At TELUS, we know that a reliable and powerful network is essential in keeping Ontarians connected to the people, information and resources that matter most," said Darren Entwistle, President and CEO of TELUS. "That is why we are investing more than $24 billion in network infrastructure, operations and spectrum in Ontario over the next five years, bringing our total commitment to $73 billion across Canada by 2028. These investments will ensure that our customers continue to benefit from the best network experience in the world, which facilitates crucial, generational changes in healthcare, education, teleworking, the environment and our digital economy and societies. Perhaps most importantly, our networks also bridge digital and socioeconomic divides, so every member of our society has the opportunity to reach their full potential."
TELUS is shaping the future by using its world-leading networks to enhance productivity and foster positive innovations in health, education, agriculture, climate change, energy, transportation and social equity, helping to fuel economic growth across the province. Driven by a deep sense of compassion and inspired by its dedicated team, TELUS is committed to addressing the most pressing challenges of today. The company is focused on delivering industry-best technology solutions and programs that positively impact lives, with ongoing plans through 2028 to make a meaningful difference in Ontario and across Canada.
Now through 2028 in Ontario, TELUS is:
Enhancing its world-leading networks to make them faster, smarter and greener
TELUS is enhancing its 5G network with ORAN technology across Ontario and Canada, creating more reliable, adaptable and faster connections. It's not just smarter, it's also kinder to the planet by using resources more efficiently and cutting down on energy use.
TELUS is using AI and advanced analytics to plan new infrastructure builds that will optimize coverage and network performance. In 2024, TELUS plans to build new cell towers across Ontario - expanding coverage in areas including Ottawa and Windsor.
Celebrating ten years and 215,000 people served by TELUS Mobile Health Clinics
TELUS Health for Good Mobile Clinics are providing healthcare to the most marginalized among us while respecting their privacy and dignity. With over $13 million invested in cash, in-kind contributions, time and support nationwide, the program is now celebrating 10 years of providing care in 25 Canadian communities. With $4.4 million invested in Ontario, TELUS Health for Good has supported more than 82,000 patient visits in partnership with local health centers. Helping prevent an estimated 16,000 emergency room visits.
TELUS Health has been selected by Ontario Health to provide a Remote Care Management (RCM) solution in the province. This state-of-the-art solution will equip health practitioners with tools to actively monitor patients from a distance over time, resulting in early detection of patients in need of quick intervention, reduced hospital admissions and improved patient outcomes.
Inspiring Canadians and supporting youth through sport
In June 2023, TELUS proudly partnered with Canada Soccer, aligning with the excitement of the FIFA Women's World Cup. Additionally, as the title partner of the Canadian Championship – the exclusive pathway for Canadian clubs to the CONCACAF Champions League –TELUS is not just sponsoring, it is actively fostering the growth of soccer. The company's involvement supports the sport's development locally and contributes to its global reach, creating new opportunities for youth engagement and stimulating economic benefits through increased sports participation and event hosting.
TELUS is also the title sponsor of the SheCan Coach program, a national coach recruitment, development and training program with the goal of ensuring more women and girls can enjoy the benefits of soccer by addressing the current challenges that they face relating to participation.
In April 2023 TELUS partnered with the Canadian Premier League (CPL) and rallied Canadians to support those in need by collecting gently used equipment with all 8 CPL teams and redistributing the items collected to underprivileged communities nationwide, helping to create opportunities for soccer participation in Canada while inspiring youth to reach their full potential through sport.
Innovating for a more sustainable future
TELUS' 2023 Sustainability and ESG Report highlights its significant efforts and progress to meet the company's ambitious goal to use 100 per cent renewable electricity by 2025. Notably, TELUS has issued six sustainability-linked bonds since 2021 totaling CAD 3.7 billion and USD 900 million, tying the progress on reaching its science-based operational decarbonization goals to its financing needs. The company's dedication to environmental goals has earned it a spot on the Dow Jones Sustainability Index for the 23rd consecutive year.
Notably, TELUS offers internet and mobile connectivity to allow its customers to live, work, learn, shop and see a doctor - virtually - from anywhere, thereby reducing unnecessary commuting and helping its customers transition to a low-carbon, nature-positive future.
Continuing its emphasis on sustainability, TELUS has successfully diverted over 15 million devices from landfills and has up-cycled or recycled more than four million mobile devices since 2005. To help bridge the digital divide TELUS has donated more than 32,000 devices to help keep those in need connected and since 2001, has donated more than 38,000 computers to the Government of Canada's Computers for School program.
Revolutionizing entertainment
TELUS is revolutionizing the home entertainment experience with Stream+, an all-encompassing bundle that combines three of Canada's top streaming services. This offering is now available nationwide for both TELUS and Koodo customers, ensuring everyone can enjoy their favourite content seamlessly.
Earlier this year, Koodo's Happy Stack, the ultimate package for connectivity and entertainment, extended its reach, offering customers in Ontario the opportunity to combine mobility, home internet and entertainment into one convenient and cost-effective bundle.
Giving back to the community
In 2024, TELUS' Canadian Community Boards announced that they have surpassed $100 million in giving since 2005 to charitable organizations that support youth in their regions. This includes the TELUS Greater Toronto & Hamilton Area Community Board granting $850,000 to support 50 exceptional youth charities, 12 health programs and 38 education programs in 2023
In 2023, the TELUS Ottawa & Eastern Ontario Community Board granted $400,000 to support 24 exceptional youth charities, 9 health programs and 15 education programs, surpassing awarding 600 grants to grassroots organizations impacting youth in their region.
Advancing its commitment to reconciliation
In July 2023, TELUS announced a doubling of its commitment to the TELUS Indigenous Communities Fund from $1 million to $2 million over the next five years. The fund offers grants for Indigenous-led social, health and community programs. Since its inception in November 2021, TELUS has distributed $575,000 in cash donations to 29 community programs supporting food security, education, cultural and linguistic revitalization, wildfire relief efforts, and the health, mental-health and well-being of Indigenous Peoples across Canada.
In November 2023, TELUS was named as part of the Indigenomics 10 to Watch list for its leadership in furthering the growth of the $100 billion Indigenous economy. This award was presented during the Indigenomics on Bay Street event, which brings together leaders from the financial sector, governments and Indigenous businesses to advance economic reconciliation.
From 2000 through 2023, TELUS has invested $259 billion nationally in network infrastructure, operations and spectrum, including more than $68 billion in Ontario. These investments are consistent with TELUS' capital expenditure guidance for 2024 as disclosed in the company's fourth quarter 2023 results and 2024 targets news release dated February 9, 2024.
TELUS also embraces tax morality as a means of further investing in the communities it serves. Since 2000, TELUS has paid approximately $57 billion in total tax and spectrum remittances to federal, provincial, and municipal governments across Canada, consisting of corporate income taxes, sales taxes, property taxes, employer portion of payroll taxes, various regulatory fees, and spectrum remittances, including more than $2.3 billion in taxes in 2023 alone. These funds support public works projects, education, healthcare, cultural pursuits, and other initiatives that improve the social and economic well-being of the communities TELUS operates in.
Since 2000, TELUS, its team members and retirees have provided over $148 million in cash, in-kind contributions, time and programs and volunteered 1.7 million hours to charities and community organizations located in Ontario.
Forward-Looking Statements
This news release contains statements about future events and plans that are forward-looking, including statements relating to TELUS' infrastructure, operations, services and spectrum investment plans, anticipated connections to our PureFibre network footprint, and our environmental targets. These forward-looking statements are made based on a number of assumptions and readers are cautioned not to place undue reliance on them as there is significant risk that actual results may vary materially from these forward-looking statements, including as a result of risks relating to regulatory decisions and developments, the competitive environment in which we operate, and our operating and financial results.
The forward-looking statements in this news release are subject to the cautionary note and based on the assumptions, qualifications and risks described in detail in TELUS' 2023 annual Management's discussion and analysis (MD&A) and first quarter 2024 MD&A, which are incorporated by reference herein, and in other TELUS public disclosure documents and filings with securities commissions in Canada (on SEDAR+ at sedarplus.ca) and in the United States (on EDGAR at sec.gov). Forward-looking statements describe TELUS' expectations and are based on our assumptions as at the date of this press release and are subject to change. These statements are made pursuant to the "safe harbour" provisions of applicable securities laws in Canada and the United States Private Securities Litigation Reform Act of 1995. Except as required by law, TELUS disclaims any intention or obligation to update or revise forward-looking statements.
About TELUS
TELUS (TSX: T, NYSE: TU) is a dynamic, world-leading communications technology company with more than $20 billion in annual revenue and over 19 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS' global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better.
Operating in 32 countries around the world, TELUS International (TSX and NYSE: TIXT) is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across strategic industry verticals, including tech and games, communications and media, eCommerce and fintech, banking, financial services and insurance, healthcare, and others.
TELUS Health is a global healthcare leader, which provides employee and family primary and preventive healthcare and wellbeing solutions. Our TELUS team, along with our 100,000 health professionals, are leveraging the combination of TELUS' strong digital and data analytics capabilities with our unsurpassed client service to dramatically improve remedial, preventive and mental health outcomes covering nearly 72 million lives, and growing, around the world. As the largest provider of digital solutions and digital insights of its kind, TELUS Agriculture & Consumer Goods enables efficient and sustainable production from seed to store, helping improve the safety and quality of food and other goods in a way that is traceable to end consumers.
Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS and our team to contribute $1.7 billion, including 2.2 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let's make the future friendly.
For more information about TELUS, please visit telus.com, follow us at @TELUSNews on X and @Darren_Entwistle on Instagram.
For more information, please contact:
Athyu Eleti
TELUS Public Relations
athyu.eleti@telus.com
*PCMag Best ISPs 2023 |
SOURCE TELUS Communications Inc.
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