RATING
Outlook
Positive
SECTOR
Mobile Telecommunications
Chief Sustainability Officer
T: N/A
E-mail: N/A
Stock Exchange and Ticker
NYSE: VZ
Website
Contact
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E.mail: N/A
Listing
- #50 World’s Top Female-Friendly Companies (2022)
- #300 World’s Best Employers (2022)
- America’s Best Employers By State (2022)
- #157 Best Employers for Women (2022)
- #238 Best Employers for New Grads (2022)
- #19 Global 2000 (2022)
- #150 Best Employers for Diversity (2022)
- #244 America’s Best Large Employers (2022)
- #235 America’s Best Employers (2021)
- #42 Just Companies (2021)
Awards
- America’s best network 16X in a row
- Verizon was awarded a Gold Lion at Cannes Lions Festival
- Best Company for employees – Seramount
- Verizon rated a 5 star company by the HACR Corporate Inclusion Index (CII)
- Verizon Communications is a Top 100 performer in the JUST Capital 2022 Workforce Equity and Mobility Ranking
- Verizon awarded most reliable 5G network 3X in a row
- America’s best network 16X in a row
- Verizon scores 100% on the Disability Equality Index
- Verizon is the most awarded for Network Quality, according to J.D. Power – 29 times in a row
- 2022 Best Companies for Multicultural Women
- FTSE4Good Investment Index
- Verizon earns 2022 Safety Standout Award for Best Overall Safety Program and Culture
- Verizon was recognized as an Energy Star Partner of the Year for the 10th year in a row
- Verizon named a 2022 LinkedIn Top US Company
- Verizon honored as a 2022 VETS Indexes 5 Star Employer
- Verizon was recognized for its commitment to safety and was awarded the Avetta Safety Leadership Award
- Verizon ranked #10 by the readers of CAREERS & the disABLED on the magazine’s 31st annual listing of the top 50 employers in the U.S.
- Verizon earns top score in Human Rights Campaign’s 2022 Corporate Equality Index
- Verizon is the most awarded for Network Quality, 28 times in a row according to J.D. Power
- Top 15 of 2021 Best for Vets: Employer rankings
- THOR wins Popular Sciences 2021 “Best of What’s New Awards”
- 2021 Top 75 Companies for Executive Women
- 2022 #2 Military Friendly company
- Verizon received the 2021 HIRE Vets Medallion Award
- 2021 Best for Vets Employer Award
- #1 in customer satisfaction with small business wireless and wireline service
- BlueJeans wins Best of Enterprise Connect 2021 award
- Verizon recognized as part of 2021 Seramount 100 Best Companies
Revenue
$135.651B
Market Capitalisation
$162.20B
Employees
119.5K
Content source
Verizon Sustainability Report
Evaluation of Verizon
The company has very comprehensive goals and can track its progress toward those goals. It supports nearly all of the SDGs. Although it complies with the Paris Agreement in its efforts to lessen its carbon footprint, its GHG reductions are not sufficient. Additionally, the company received numerous certificates in a variety of fields. Additionally included in its strategy are social inclusion, diminished inequality, quality education, and well-being. The index ratings it attained provide evidence for each of these. In conclusion, it is possible to state that this company will be among those that achieve full sustainability in a few years.
Sustainability Scorecard
Verizon Company Activity
Verizon, a global leader in communication technology, is building the future with their 5G technology to accelerate testing and drive the development of the worldwide 5G standard. In addition to providing innovative communications and technology solutions, the company is dedicated to working with their technology partners to further advance 5G technology and reach important milestones on the path to full deployment, in the lab and, most importantly, in the real world where it matters most.
Verizon Sustainability Activity - As per company declarations
Verizon’s business solutions help bring environmental consciousness to the forefront of change. Verizon has set aggressive targets to guide our actions, and we are measuring our impact. The Verizon Connect mobile worker and fleet management software platform delivers critical data that helps drive efficiency, productivity and safety for businesses of all sizes. By improving routes, monitoring fuel usage and tracking driver behavior like idling and harsh driving, the Verizon Connect platform also enables companies to address climate protection and to do their part to reduce the estimated 33% of total smog-producing air pollution caused by motor vehicles.
Similarly, Verizon Intelligent Traffic Management utilizes video, smart lighting and intersection safety analytics to ease congestion and reduce the 16 billion pounds of CO2 emitted annually by motor vehicles stuck in traffic. In select cities around the country, Verizon 5G Ultra Wideband can help introduce the next phase of these innovations, with the potential for smart communities that will attract next-gen businesses. Using IoT technology and a vast sensor network, these businesses should be well positioned to conserve energy, reduce waste and preserve local government budgets.
Certificate & Labels, Standards and Frameworks
- Task Force on Climate-related Disclosures (TFCD)
- Sustainability Accounting Standards Board (SASB)
- Green Financing Framework
- National Institute of Standards and Technology’s (NIST) Framework
- ISO 14001
- ISO 45001
- ISO 27001:2013
- ISO 22301:2012
- ISO 22320:2011(E)
- FEMA NIMS
- Energy Star Certifications
Verizon in the news: Press Reviews and Social Media
A wooden shipping reel return and recycling program was created by Corning and Verizon. In just two years, more than 1.5 million pounds of wood were recycled, saving 795 trees in total. As a recipient of Verizon’s 2020 Supplier Sustainability Award, Corning was acknowledged by the company.
Verizon fully allocates third $1 billion green bond – Climate Action
In its Green Bond Impact Report, Verizon outlines how the entire net proceeds from its third green bond were allocated. A revised Green Financing Framework, which included new underwriter selection criteria centered on diversity and the U.N. Sustainable Development Goals, was used to issue the bond in September 2021.
Verizon goes carbon neutral by 2035
By 2035, Verizon’s emissions under Scope 1 and Scope 2 will be carbon neutral. This will be accomplished by combining direct and indirect emission reduction strategies. Additionally, Verizon unveiled a $1 billion green bond, the nation’s first telecom company to ever issue one.
Verizon was the first American telecommunications company to issue a green bond in 2019. It has given 16 utility-scale renewable energy projects $2 billion in green bonds. Verizon wants to have purchased more than 2.5 GW of renewable energy by the end of the year. Chan emphasizes the importance of picking the right developer. When it comes to investor participation, which ultimately affects the cost of funding, this could be a game-changer.
Moody’s increased its prediction for the global issuance of green bonds to about $450 billion in July. Additionally, issuers must disclose to investors the primary environmental metrics and the purpose for which the green bond proceeds will be used. Some investors won’t make an investment unless you promise to report on the investment’s impact. Trillions of dollars are being pledged by financial institutions for environmental, social, and governance (ESG) investments and sustainability. According to Chan, this will lead to lower capital costs for investments in renewable energy as well as greater access to financing and tax equity partners. According to Chan, interest in ESG investing is at an all-time high.
Highlights from Verizon Sustainability Report
Achievements
- Their fiber-delivered broadband services are at least 100 times more efficient on a kilowatt hour (kWh) per gigabyte basis than copperdelivered broadband services
- 653 ENERGY STAR certifications
- 79 Verizon locations with EV charging stations
- ~2.6 GW of anticipated renewable energy under contract
- In 2021, Verizon reused or recycled ~ 35.5 million pounds of e-waste
- Verizon’s EHS department earned ISO 14001 and 45001 certifications in 2021
Weaknesses and Setbacks
- Disparity in gender rate of employees
Targets vs Progress Reported
| Target | Results reported |
|---|---|
| Expect to achieve net zero operational emissions by 2035 | - 6.3% reduction in scope 1 and 2 emissions in 2020 over a 2019 baseline |
| Expect to achieve a 53% reduction in scope 1 and 2 operational emissions by 2030 (over a 2019 baseline) to limit global warming to a 1.5ºC scenario | - Expect to achieve a 53% reduction in scope 1 and 2 operational emissions by 2030 (over a 2019 baseline) to limit global warming to a 1.5ºC scenario |
| Expect to achieve a 40% reduction in scope 3 emissions from value chain by 2035 (over a 2019 baseline) to limit global warming to well-below 2ºC | - 7.7% reduction in 2020 |
| By the end of 2026, enroll 50% of Verizon’s workforce as Green Team members | - 43% of employees are Green Team members |
