Verizon is strengthening its commitment to sustainability today, announcing the company will go carbon neutral by 2035 in its Scope 1 and Scope 2 emissions.
This will be achieved through a combination of reducing those emissions directly, migrating energy procurement in favor of renewable and clean energy and through the purchase of carbon offsets.
This announcement underscores how the private sector can mobilize its business and resources further to build a more sustainable planet. Earlier this year, Verizon, the largest wireless communications provider in the U.S., also launched a $1B green bond, which was the first ever issued by a U.S. telecommunications company.
“Sustainability and social responsibility are part of Verizon’s DNA,” said James Gowen, Chief Sustainability Officer and Vice President of Supply Chain Operations at Verizon. “As an emerging leader in sustainability, Verizon understands its responsibility to continuously evolve and innovate to meet new challenges and expectations.”
Overview of Verizon’s sustainability efforts and commitments
•A 28% Carbon Intensity reduction since 2016 with the goal set for a 50% carbon intensity reduction by 2025
•A green energy initiative which has offset 20,000 metric tons of CO2
•A 2025 commitment to source renewable energy equivalent to 50% of Verizon’s total electricity usage
•Carbon abatement will enable customers to also reduce their carbon footprint •Verizon solutions have enabled the avoidance of 8.2 million metric tons of CO2 emissions, the equivalent to removing 1.6 million cars off the road for one year
•278 ENERGY STAR-certified buildings and 22 onsite renewable energy installations
•28,000 Green Team employees in 44 countries
•Two million trees planted by 2030 with more than 700,000 planted already