Verizon allocates its fifth $1 billion green bond
Verizon has fully allocated the net proceeds of our fifth green bond entirely to REPAs for renewable energy investments to accelerate the transition to greener electrical grids across the U.S.
Addressing climate-related
risks and opportunities.
We have adopted the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and published our first report aligned with these guidelines.
Net zero emissions
Verizon has committed to set an SBTi-approved target to reach net-zero GHG emissions across our value chain (scopes 1, 2 and 3) by 2050.
Transitioning to
renewable energy.
Verizon expects to source renewable energy equivalent to 50% of our annual electricity usage by 2025 and 100% by 2030.
Verizon is also developing on-site green energy generation at our administrative offices and other facilities. Since 2013, we have installed 37.6 megawatts (MW) of on-site green energy.
Helping customers reduce carbon emissions.
As a global communications technology leader, we recognize that our networks and connected solutions can help millions of customers save energy and reduce their own carbon emissions.
Since 2018, Verizon solutions have enabled the avoidance of over 90 million metric tons of CO2e.
In 2023, Verizon solutions enabled the avoidance of over 20 million metric tons of CO2e.
Water conservation.
We recognize that water is an extremely important resource and are focused on reducing water use across our facilities. We reduced water usage by 24% from 2016 to 2023.
Transforming our fleet.
We are in the process of transforming our fleet from relying on internal combustion engines to using clean energy technologies. As part of this effort, we are planning to electrify much of our customer-facing fleet through suitable light-duty EVs. We are also prioritizing the design and construction of charging stations at Verizon locations that house the largest concentrations of fleet vehicles.
Sustainability Data
Verizon seeks independent assurance for select sustainability-related data each year. Access the Independent Accountants' Review Reports here. For information that is not specifically identified as being independently assured, Verizon relies on the application of internal policies (including those requiring the creation and maintenance of accurate records and the establishment of internal controls over externally reported financial and non-financial information) and compliance with data quality standards and verification procedures set forth in our ESG information governance and controls frameworks to validate such information.