Verizon’s Multibillion-Dollar Commitment to Inclusion and Diversity in 2014
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Verizon takes pride in our talented and diverse team. We measure our diversity and inclusion progress as we do any other business objective. Inclusion and diversity are essential to living our values, achieving our business goals and building a stronger Verizon. In an increasingly competitive global marketplace, we can only succeed when we attract and retain the best talent and when our employees reflect the diversity of our consumers and can truly unleash their full potential as part of an inclusive culture.
This commitment also extends to our business relationships.
I’m proud to report that in 2014 Verizon’s Treasury organization – which is responsible for corporate-wide financing – was fully engaged in advancing our company’s diversity and inclusion goals.
Verizon’s valued partnerships with diverse financial firms helped our Treasury department manage an unprecedented level of financing activity last year.
In 2014, Verizon Treasury worked with 13 minority-, women- and veteran-owned businesses on 10 financial transactions worth approximately $38 billion.
The 10 transactions included U.S. dollar debt issuances, euro and pound transactions, and liability-management transactions. Verizon also continues to engage a diverse firm as a commercial paper (short-term borrowings) dealer.
Of course, these were not the only financial relationships Verizon had with diverse suppliers in 2014.
Verizon has a long-standing commitment to supplier diversity, purchasing $24.5 billion over the past five years from business enterprises certified as being owned by minorities, women and service-disabled veterans. Verizon is a charter member of the Billion Dollar Roundtable, a coalition of 19 corporations that spend more than $1 billion each year with diverse suppliers.
In addition, as of year-end 2014, Verizon Investment Management Corp. – which manages the investments of the defined-benefit pension fund for Verizon retirees as well as the Verizon Foundation – had invested or committed more than $500 million in assets to 22 minority-, women- and veteran-owned investment management firms and private partnerships.
At Verizon, we want inclusion and diversity to be reflected in all that we do. That commitment is tied to our success.