Verizon has been named to the Maplecroft Climate Innovation Index, a list of 300 of the largest 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.
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.
According to the report, Verizon's strengths include policies and procedures to reduce greenhouse gas emissions; programs to encourage innovation related to those emissions and energy conservation; and partnerships and public disclosures.
Verizon's ultra-fast, broadband 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 can also play an essential role in deploying smart logistics, smart buildings and smart power grids.
"Our advanced networks have tremendous potential for helping individuals and organizations go beyond the environmental benefits they're realizing today," said James Gowen, Verizon's chief sustainability officer. "We're employing that same spirit of innovation to focus on reducing the environmental impact of Verizon's business today and in the future."
(NOTE: To view a video featuring the many ways Verizon is reducing its carbon footprint, visit http://www.youtube.com/watch?v=tETxFdHh0LM.)
In 2009 alone, Verizon's conservation efforts reduced greenhouse gas emissions by more than 793 million pounds, approximately the amount of CO2 emitted by 46,700 homes in a year. Verizon was the first telecommunications company to require that the network equipment it purchases be 20 percent more energy efficient - effectively establishing a new energy standard in the telecom industry.
A participant in the Carbon Disclosure Project's registry of corporate greenhouse-gas emissions since 2004, Verizon is the only telecommunications company in the U.S. to be named to the Dow Jones Sustainability North America Index, which lists North America's leading companies as measured by governance, social and environmental performance.
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 91 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 employs a diverse workforce of approximately 222,900 and last year generated consolidated revenues of more than $107 billion. For more information, visit www.verizon.com.