Verizon issues its fifth $1 billion green bond
Verizon settled its fifth green bond offering of $1 billion, with the net proceeds expected to be allocated entirely toward renewable energy investments to accelerate the transition to greener electrical grids across the U.S.
Addressing climate-related
risks and opportunities.
We have adopted the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) and published our first report aligned with these guidelines.
Transitioning to
renewable energy.
Verizon expects to source renewable energy equivalent to 50% of our annual electricity usage by 2025 and 100% by 2030.
Verizon is also developing on-site green energy generation at our administrative offices and other facilities. Since 2013, we have installed 37.6 megawatts (MW) of on-site green energy.
Helping customers reduce carbon emissions.
As a global communications technology leader, we recognize that our networks and connected solutions can help millions of customers save energy and reduce their own carbon emissions.
Since 2018, Verizon solutions have enabled the avoidance of over 73 million metric tons of CO2e.
In 2022, Verizon solutions enabled the avoidance of over 15.2 million metric tons of CO2e, equivalent to taking nearly 3.3 million cars off the road for one year.
Water conservation.
We recognize that water is an extremely important resource and are focused on reducing water use across our facilities. We reduced water usage by 23% from 2016 to 2022.
Transforming our fleet.
We are in the process of transforming our fleet from relying on internal combustion engines to using clean energy technologies. As part of this effort, we are planning to electrify much of our customer-facing fleet through suitable light-duty EVs. We are also prioritizing the design and construction of charging stations at Verizon locations that house the largest concentrations of fleet vehicles.
