Verizon reaffirms commitment to be carbon neutral by 2035
January 20 2020 - 6:00AM
Verizon CEO, Hans Vestberg, today asserted that climate risk is
business risk, as he reaffirmed Verizon’s commitment to taking
steps toward its goal to be carbon neutral in its operations by
2035. Vestberg joins world leaders this week at the 50th World
Economic Forum Annual Meeting taking place in Davos, Switzerland.
Verizon's commitment to become carbon neutral demonstrates one
way the private sector can address risks posed by climate
change.
Verizon plans to achieve this goal through a combination of
reducing emissions and investing in renewable energy and carbon
offsets. The company is also working toward sourcing or generating
renewable energy equivalent to 50 percent of its total annual
electricity consumption by 2025, through on- and off-site renewable
investments. Additionally, Verizon has pledged to set a
Science-Based emissions reduction Target (SBT) by September 2021 to
further its commitment to emissions reductions in line with the
Paris Agreement.Verizon was the first U.S. telecommunications
company to issue a green bond, with funds from the $1 billion bond
targeting renewable energy, energy efficiency, green buildings,
sustainable water management, and biodiversity and conservation,
including planting trees and undertaking other reforestation
efforts in areas hit by natural disasters. The company, which
launched its formal sustainability program in 2009, also has goals
to recycle 5M pounds of e-waste by 2022, reduce its water
consumption by 15 percent by 2025, and to plant 10 million trees by
2030.
To learn more about Verizon's sustainability initiatives, visit
here.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on
June 30, 2000 and is celebrating its 20th year as one of the
world’s leading providers of communications, information and
entertainment products and services. Headquartered in New York City
and with a presence around the world, Verizon generated
revenues of $130.9 billion in 2018. The
company offers voice, data and video services and solutions on
its award winning networks and
platforms, delivering on customers’ demand for
mobility, reliable network connectivity, security and
control.
VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media
contacts and other resources are available at
www.verizon.com/about/news/. News releases are also available
through an RSS feed. To subscribe, visit
www.verizon.com/about/rss-feeds/.
Media contact:Bernadette
BrijlallBernadette.Brijlall@verizon.com
Verizon Communications (NYSE:VZ)
Historical Stock Chart
From Mar 2024 to Apr 2024
Verizon Communications (NYSE:VZ)
Historical Stock Chart
From Apr 2023 to Apr 2024