Verizon has been added to the Dow Jones Sustainability North America Index, which lists North America's leading companies as measured by governance, social and environmental performance. Verizon is the only telecommunications company in the U.S. to be named to the index.
The DJSI North America tracks the financial performance of the top 20 percent, in terms of sustainability, of the 600 biggest North American companies in the Dow Jones Global Total Stock Market Index. Top performers are evaluated by a variety of criteria including operational eco-efficiency, environmental reporting, codes of conduct, corporate citizenship, standards for suppliers and corporate governance. The annual review accounts for general as well as industry-specific sustainability criteria for each of 58 sectors defined according to the Industry Classification Benchmark (ICB).
Verizon earned the highest scores for the company's work in privacy protection, standards for suppliers and corporate governance.
"Every day, our employees put our broadband and wireless networks to work to address a variety of social issues," said Kathryn C. Brown, senior vice president for public policy development and corporate responsibility. "They see the difference their work makes in the community. This ranking is meaningful because it recognizes that Verizon's management of opportunities and issues derived from economic, environmental and social developments is creating long-term shareholder value."
A responsible steward of the environment, Verizon's energy-conservation, waste-prevention and recycling efforts have yielded an estimated annual average reduction of 332,295 metric tons in greenhouse-gas emissions over the last five years alone. That's equivalent to nearly 61,000 cars not driven for one year.
Verizon recently issued its first human rights statement supporting the broad principles in the U.N. Universal Declaration of Human Rights, many of which can be applied to how global businesses can build good relationships around the world and work successfully among different customs and cultures.
And earlier this year, Verizon's corporate responsibility efforts were recognized by Corporate Responsibility Officer magazine and The Big Money, a Web site that focuses on aspects of economics and money.
CRO magazine ranked Verizon No. 32 on the publication's 100 Best Corporate Citizens List. Verizon, which was the only telecommunications company on the list, received its highest CRO score for philanthropy, ranking 9th in that category.
Verizon ranked 40th on The Big Money's Socially Responsible Investing Stock Screener, out of 500 publicly traded companies in the U.S. IW Financial, which specializes in environmental, social and governance issues, was contracted by The Big Money to compile the list and rank companies according to social responsibility criteria including the companies' policies covering gays and lesbians, the environment and treatment of employees.
Verizon's latest corporate responsibility report highlights how the company is using its technology, resources and employees to address societal challenges such as improving health care, increasing energy efficiency and conservation, and playing a role in the recovery of the nation's economy.
For more information about Verizon's commitment to being a responsible corporate citizen, visit http://responsibility.verizon.com/. To learn more about how Verizon is reducing the environmental impact of its operations and that of its customers, visit http://newscenter2.verizon.com/kit/green-press-kit/.
Verizon Communications Inc. (NYSE:VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers. Verizon Wireless operates America's most reliable wireless network, serving more than 87 million customers nationwide. Verizon's Wireline operations provide converged communications, information and entertainment services over the nation's most advanced fiber-optic network. Wireline also includes Verizon Business, which delivers innovative and seamless business solutions to customers around the world. A Dow 30 company, Verizon employs a diverse workforce of more than 235,000 and last year generated consolidated operating revenues of more than $97 billion. For more information, visit www.verizon.com.