RVBA-CCI

Crown Castle — full event log

Every event we have on file across every reporting year. The Data-by-year tab summarises the top 10 per year; this page shows them all.

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2025· 8 events

Limited assurance on sustainability metrics tied to credit facilityData confidence — med

PwC provides limited assurance services pertaining to sustainability metrics with respect to Crown Castle's senior unsecured credit facility (sustainability-linked).

sustainability_report p.28

Renewable energy sourcing to achieve carbon neutral Scope 1 & 2 by 2025Data confidence — high

Crown Castle's sustainability strategy includes a goal to be carbon neutral in Scope 1 and 2 emissions by 2025, pursued through sourcing of renewable energy to power operations. This is paired with operational efficiency measures including converting tower lighting systems to LED, which has resulted in reduced energy costs and improved operational efficiency.

sustainability_report p.8

Primary: Shared wireless infrastructure model reduces per-tenant emissionsData confidence — high

Crown Castle's core decarbonisation argument is its shared wireless infrastructure model, which it describes as inherently sustainable. By building once and using its infrastructure for multiple tenants, the company lowers the total number of assets that would otherwise be needed across the wireless industry, reducing resource use and overall emissions on a per-tenant basis.

sustainability_report p.8

Primary: Climate resilience through geographically distributed assetsData confidence — high

Crown Castle's assets are widely distributed across the U.S., which helps limit the impact of any single weather event on operations. The company proactively assesses and maintains assets to maximize resilience against extreme weather events and other physical climate risks.

sustainability_report p.8

Primary: LED conversion of tower lighting systemsData confidence — high

Crown Castle is converting tower lighting systems to LED across its U.S. tower portfolio, resulting in reduced energy costs and improved operational efficiency. This is a direct Scope 1/2 lever for the firm's owned and operated tower infrastructure.

sustainability_report p.8

Agreement to sell Fiber Business for $8.5 billionData confidence — high

In March 2025, the Company entered into an agreement to sell its small cells and fiber solutions businesses (Fiber Business) for $8.5 billion to EQT Active Core Infrastructure (small cells) and Zayo Group Holdings (fiber solutions). Expected to close in first half of 2026. Crown Castle will become a U.S.-focused standalone tower REIT.

sustainability_report p.23

CEO transition - Christian Hillabrant appointed President & CEOData confidence — high

Third CEO transition since 2023. Mr. Moskowitz ceased serving as President and CEO effective March 23, 2025. Mr. Schlanger served as Interim President and CEO from March 23 to September 15, 2025. Mr. Hillabrant appointed effective September 15, 2025.

sustainability_report p.28

Carbon neutral Scope 1 & 2 target for 2025affects scope 1 co2eData confidence — high

During 2025, we advanced our sustainability strategies, including our goal to be carbon neutral in Scope 1 and 2 emissions by 2025 by sourcing of renewable energy to power our operations and converting our tower lighting systems to LED.

sustainability_report p.8

2024· 13 events

Primary: Shared infrastructure colocation modelData confidence — high

Core business model is to share towers across multiple customers, reducing total assets needed and resource use. Crown Castle's carbon intensity is reported as 79x lower than S&P 500 average based on Scope 1 + location-based Scope 2 per $1B enterprise value (0.9 vs 71).

sustainability_report p.18

Corrected HVAC and iDAS electricity attributionaffects scope 2 co2e marketData confidence — high

2024 analysis corrected over-attribution of HVAC electricity in unoccupied tower shelters (2022/2023) and misattribution of iDAS venue electricity between Crown Castle and customers. Drove material reduction in reported Scope 2.

sustainability_report p.20

Announced sale of small cells and fiber businessesData confidence — high

On March 13, 2025, Crown Castle announced a definitive agreement to sell its small cells and fiber solutions businesses to affiliates of EQT Active Core Infrastructure fund and Zayo Group Holdings Inc. Transaction expected to close H1 2026; will reduce energy consumption and emissions footprint significantly.

sustainability_report p.3

Built upon first comprehensive Scope 3 inventoryaffects scope 3 co2eData confidence — high

2024 continued reporting on relevant Scope 3 categories including the dominant Category 13 (downstream leased assets) at 994,816 tCO2e.

sustainability_report p.21

17% reduction in fleet fuel consumptionaffects scope 1 co2eData confidence — high

Realized a 17% reduction in fuel consumption and Scope 1 emissions through operational changes and converting ~15% of fleet to hybrid models.

sustainability_report p.19

TCFD climate scenario analysis completedData confidence — high

Engaged S&P Global to conduct TCFD-aligned quantitative climate scenario modeling. Tower portfolio assessed as resilient across SSP1-SSP5 scenarios through 2090s.

sustainability_report p.8

Carbon offsets used to a lesser extentData confidence — high

Crown Castle's strategy to reach its 2025 carbon-neutral Scope 1 & 2 goal centers on emissions reductions and renewable energy, with carbon offsets procured 'to a lesser extent.' No durable removal technologies (DAC, BECCS, biochar) are referenced.

sustainability_report p.17

Primary: Fleet electrification / hybridisation and telematicsData confidence — high

Fleet emissions represent 52% of Scope 1+2. In 2024, Crown Castle achieved a 17% reduction in fuel consumption and Scope 1 emissions through operational changes and converting ~15% of its fleet to hybrid models. Telematics rollout completed across all fleet vehicles, standardizing fuel and idling data.

sustainability_report p.19

Dependent: Embodied carbon in capital goods (fiber construction)Data confidence — high

Category 2 capital goods emissions of 192,820 tCO2e are largely associated with fiber installation construction-related spend. Pending divestiture of fiber business will reduce this materially.

sustainability_report p.21

Carbon neutral Scope 1 & 2 by 2025Data confidence — high

Crown Castle is on track to achieve its goal to be carbon neutral in Scope 1 and 2 emissions for 2025, via renewable energy sourcing and, to a lesser extent, carbon offsets.

sustainability_report p.17

100% renewable electricity goal via retail PPAs, wind, solar and community solarData confidence — high

Crown Castle aims to source 100% renewable electricity for 2025, supporting its Scope 1 & 2 carbon-neutral goal. Through multi-year retail agreements in deregulated markets, it sources ~114,000 MWh across 13 states, plus 30,000 MWh from specific projects including the 300 MW Priddy Wind Farm and 50 MW Pitts Dudik Solar Project. A community solar partnership operational since late 2024 adds further cost-effective supply. In 2024, 144,193 MWh of renewable energy covered 93% of total electricity consumption (155,665 MWh).

sustainability_report p.18

Dependent: Downstream leased assets — customer tenant energyData confidence — high

Category 13 downstream leased assets (994,816 tCO2e, 77% of Scope 3) is the dominant footprint, reflecting customers' electricity use for telecom equipment and HVAC at tower sites. Emissions decreased 11% from 2023 to 2024 due to customer decarbonization efforts and improved electricity-use estimates.

sustainability_report p.21

Primary: Tower lighting LED upgradeData confidence — high

63% of lit towers upgraded to energy-efficient LED lighting by end-2024, up from 61% (2023) and 60% (2022). Drives electricity reduction at tower assets.

sustainability_report p.18

2023· 11 events

Dependent: Capital goods / fiber construction embodied emissionsData confidence — high

Category 2 capital goods (357,139 MTCO2e, 22% of Scope 3) is largely associated with fiber installation construction-related spend. Identified as a material area for future supplier engagement and value-chain reduction strategies.

sustainability_report p.19

First comprehensive Scope 3 inventory completedaffects scope 3 co2eData confidence — high

In 2023, Crown Castle finalized its first comprehensive Scope 3 emissions inventory across all relevant categories, with Category 13 (downstream leased assets) identified as the dominant driver at 69% of total Scope 3.

sustainability_report p.19

100% renewable electricity by 2025 via PPAs and community solarData confidence — high

Crown Castle aims to source 100% renewable electricity by 2025 to support its Scope 1+2 carbon neutral goal. In March 2023, the company supported development of a 50 MW solar farm that became operational that year, and procured renewable energy contracts from a recently constructed 300 MW wind farm. A California community solar partnership (operational late 2024) will provide additional RECs. 2023 result: ~144K MWh of renewable energy, covering 92% of electricity consumption.

sustainability_report p.17

Corrected iDAS venue electricity attributionaffects scope 2 co2e marketData confidence — high

Prior to 2023, Crown Castle misinterpreted remote monitoring unit data for a limited number of iDAS venues, incorrectly distinguishing between Crown Castle and customer electricity usage. The 2023 calculations correctly attribute electricity use.

sustainability_report p.18

100% renewable electricity by 2025affects renewable electricity pctData confidence — high

Aiming to source 100% renewable electricity by 2025 in support of the carbon neutral Scope 1+2 goal.

sustainability_report p.17

Carbon neutral Scope 1+2 by 2025affects net zero target yearData confidence — high

Goal to be carbon neutral in Scope 1 and 2 emissions by 2025; reported 73% of the way there based on market-based emissions.

sustainability_report p.16

16% diverse supplier spend by 2026Data confidence — high

Goal of 16% diverse supplier spend by 2026, representing top quartile in US diversity spend. Progress at 12.6% in 2023.

sustainability_report p.12

Dependent: Downstream leased asset (tenant) emissions reductionData confidence — high

Category 13 downstream leased assets — customer energy use on Crown Castle infrastructure (towers, small cells, fiber) — is 69% of total Scope 3 at 1,116,621 MTCO2e. The company is working with customers to formulate strategies to reduce these emissions across the value chain. Customer renewable energy contributions are factored into market-based calculations.

sustainability_report p.19

Primary: Shared infrastructure / colocation modelData confidence — high

Core business model: building once and sharing infrastructure among multiple wireless carrier customers reduces the total assets needed and lowers materials, energy and water resources versus a single-tenant model. Crown Castle states its carbon intensity is 72x lower than the S&P 500 average (Scope 1+2 location-based per $1B enterprise value).

sustainability_report p.4

Primary: LED lighting on towersData confidence — high

61% of lit towers (12,137 total) have been upgraded to energy-efficient LED lights as of 2023, up from 57% in 2021 and 60% in 2022. Tower lighting is part of Towers asset class electricity use.

sustainability_report p.17

Primary: Fleet hybridization and telematicsData confidence — high

Fleet represents 51% of Scope 1+2 emissions. In early 2024 Crown Castle converted 162 vehicles (~15% of total fleet) to hybrid models, and completed the rollout of upgraded telematics devices to all fleet vehicles to standardize fuel consumption and idling-time data. Drove an 11% decrease in fleet-related incidents since 2022.

sustainability_report p.17

2022· 11 events

Dependent: Downstream tenant electricity (Scope 3 cat 13)Data confidence — high

Crown Castle identifies downstream electricity that powers customers' equipment on its towers, small cells and fiber as a primary Scope 3 driver. The company is working with customers to formulate strategies to reduce these value-chain emissions, while a comprehensive Scope 3 inventory is being finalized.

sustainability_report p.8

Primary: Shared infrastructure / colocation modelData confidence — high

The core decarb strategy is the shared infrastructure model: one tower or fiber asset serves multiple tenants, reducing materials, energy and emissions vs single-tenant builds. The company argues its carbon intensity (0.97 tCO2e per $1B EV) is 80x lower than the S&P 500 average.

sustainability_report p.7

Switched Scope 2 reporting from location- to market-basedaffects scope 2 co2e marketData confidence — high

Scope 2 emissions were calculated using market-based method in 2022; prior years used location-based. Refers readers to ESG data tables for comparable location-based figures.

sustainability_report p.7

Added iDAS venue electricity to Scope 2affects scope 2 co2e marketData confidence — med

For 2022, estimated Crown Castle electricity consumption at certain iDAS venues that previously had not been included where venue operator supplied electricity.

sustainability_report p.7

68% renewable electricity via PPAs from US solar and wind farmsData confidence — high

In 2022, ~114,000 MWh (68%) of Crown Castle's ~168,000 MWh annual electricity consumption was from renewable sources. By 2023 the company had contracted ~144,000 MWh (~85% of projected consumption), including supporting development of a new 50 MW solar farm (March 2023) and procuring renewable energy contracts from a recently constructed 300 MW wind farm. Renewables are central to the path toward the 2025 carbon-neutral Scope 1+2 goal.

sustainability_report p.6

Primary: Fleet diesel and gasoline reductionData confidence — med

Fleet (diesel + gasoline) represents 30% of Scope 1+2 emissions and is the largest Scope 1 source at 9,679 tCO2e in 2022. Identified as a primary lever for further reduction within own operations.

sustainability_report p.8

Dependent: Purchased goods and services (Scope 3 cat 1)Data confidence — high

Purchased goods and services are flagged as one of the three primary Scope 3 drivers alongside downstream tenant electricity and capital goods. Supplier engagement is part of the value-chain decarb plan.

sustainability_report p.8

Scope 3 inventory under developmentaffects scope 3 co2eData confidence — high

Crown Castle is finalizing a comprehensive Scope 3 inventory to enable public reporting; identifies downstream electricity (tenant), capital goods (fiber construction), and purchased goods/services as the primary drivers.

sustainability_report p.8

Primary: LED tower lighting upgradesData confidence — high

Crown Castle is converting tower lighting to energy-efficient LEDs. 60% of the 12,117 lit towers were upgraded by end of 2022, up from 57% in 2021 and 53% in 2020. This reduces tower electricity use, the largest single Scope 2 source (24% of S1+S2).

sustainability_report p.6

Removed leased POP electricity from Scope 2 boundaryaffects scope 2 co2e marketData confidence — med

Prior to 2022 the electricity consumption calculation for fiber POPs included adjustments for PUE for leased POP locations. Determined Crown Castle does not have operational control over leased POPs; 2022 calculation reflects auxiliary energy only at owned POPs, meaning prior years were overstated.

sustainability_report p.7

Dependent: Capital goods - fiber construction (Scope 3 cat 2)Data confidence — high

Capital goods, particularly construction associated with fiber installation, are identified as a primary Scope 3 driver. Crown Castle is engaging suppliers to formulate emissions-reduction strategies across the value chain.

sustainability_report p.8

2021· 1 event

16% diverse supplier spend by 2026Data confidence — high

Goal established in 2021 to reach 16% diverse supplier spend by 2026, representing top quartile in US diversity spend among 100+ large companies. 2022 progress: 10.1%.

sustainability_report p.10

2020· 1 event

Carbon neutral Scope 1 & 2 by 2025 goalaffects net zero target yearData confidence — high

Crown Castle set a goal two years ago (~2020) to be carbon neutral in Scope 1 and 2 emissions by 2025.

sustainability_report p.2