Verizon has been named to the Maplecroft Climate Innovation Index, a list of 100 top performing companies in the U.S. selected for their climate-related innovation and carbon-management programs. The company was cited for its efforts to reduce greenhouse gas emissions as well as the positive impact its information communications technology solutions can have in helping businesses and consumers reduce their carbon footprints.
The Maplecroft CII list - calculated by Bloomberg and based upon evaluations by corporate risk-intelligence specialist Maplecroft, using more than 100 criteria - identifies companies that embed innovation into their operations to generate sustained competitive advantage. To do well, companies had to demonstrate how they are cutting energy consumption and greenhouse gas emissions, and improving their processes, products and services in terms of sustainability. Maplecroft selected its top 100 from an initial pool of 1,300 companies. Verizon ranked No. 61 overall, up from No. 90 in last year's ranking.
According to the report, Verizon's strengths include that it has a defined risk-management structure overseen by its Corporate Responsibility Executive Council. The council includes an environmental sustainability committee and a reputation, risk and assessment committee.
Maplecroft CII also noted Verizon's decision to conduct a survey of stakeholders, including nongovernmental and third-party organizations, to obtain feedback on the company's efforts to address sustainability issues.
Verizon's ultra-fast broadband and global IP networks enable more sustainable practices including replacing travel with telework and high-definition video conferencing, and facilitating e-commerce and distance learning. The company's intelligent wireline and wireless networks and solutions can also play an essential role in deploying smart logistics, smart buildings and smart power grids.
"Earlier this year, Verizon launched a comprehensive sustainability program designed to find practical and innovative solutions to decrease the carbon footprint of our global operations," said Jim Gowen, Verizon chief sustainability officer. "We are proud to again be recognized by Maplecroft for our efforts, and we are committed to using Verizon's advanced broadband technology to help our company, consumers and communities live greener lives."
A responsible steward of the environment, Verizon's energy reduction and recycling measures reduced the company's CO2 emissions by more than 793 million pounds in 2009, approximately the amount of CO2 emitted by 46,700 homes in a year. The company also improved its rate of emissions per million dollars in revenue to 60.2 metric tons of CO2 in 2009, from 64.4 metric tons in 2008.
For the past two years, Verizon has been included in the Dow Jones Sustainability North America Index, which lists North America's leading companies as measured by governance, social and environmental performance.
Earlier this year, Verizon's corporate responsibility efforts were recognized by Corporate Responsibility magazine, which named Verizon to its 100 Best Corporate Citizens List for the third consecutive year. Verizon is No. 27 this year, up from No. 32 in 2009.
To view Maplecroft's methodology and results in the Maplecroft CII, visit www.maplecroft.com.
For more information on Verizon's environmental initiatives, visit http://newscenter2.verizon.com/kit/green-press-kit/.
Verizon Communications Inc. (NYSE, NASDAQ: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 92 million customers nationwide. Verizon also provides converged communications, information and entertainment services over America's most advanced fiber-optic network, and delivers innovative, seamless business solutions to customers around the world. A Dow 30 company, Verizon last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.