Verizon reaffirms commitment to be carbon neutral by 2035

NEW YORK, Jan. 20, 2020 (GLOBE NEWSWIRE) -- 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 rnewable 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. 

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Media contact:
Bernadette Brijlall
[email protected]

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