Message from the Chairman and Chief Executive Officer
At Verizon, one of the world’s leading information and communications technology companies, our corporate purpose is to create the networks that move the world forward. This purpose is in line with my long-held belief in the inherent power of mobility, broadband and cloud to solve global societal challenges, a conviction that is even stronger today, as 5G brings on the Fourth Industrial Revolution, and with it, a new era of sustainable innovation and inclusive growth.
In 2019, we aligned our business around a new Verizon 2.0 strategy (read more about Verizon 2.0 in our 2019 annual report) to better position us to achieve our purpose and to lead the industry and connect society. At the heart of Verizon 2.0 is a commitment to consider how our company interacts with all our stakeholders, including customers and shareholders, as well as our employees, our ecosystem of suppliers and society overall. We are dedicating our assets: our 135,000-plus employees, our influence as a purchaser of more than $63.5 billion of goods and services, and our technology and innovation to create positive impact in a sustainable way.
Important to this is an effective strategy to deliver social, economic and environmental benefits to the world, while also managing our environmental, social and governance (ESG) issues. We view ESG issues through two lenses: risks and opportunities. For example, we understand that climate risk is business risk, and we are taking bold steps to make our networks more climate resilient and to minimize our environmental footprint. At the same time, we believe the next-gen technologies enabled by Verizon’s 5G technology will not only present tremendous opportunities to deliver value to our stakeholders but also provide critical solutions toward a sustainable future and a low-carbon economy.
In addition, we are working to align our business strategy with the United Nations (UN) Sustainable Development Goals (SDGs) and ground these efforts in the UN Guiding Principles on Business and Human Rights. As a member of the UN Sustainable Development Solutions Network and board member of the UN Foundation, I have supported the UN SDGs since their inception. So far, we have set aggressive goals that align to the targets of several SDGs that focus on climate and education. These goals are detailed in the following section of this report. In addition to the SDGs,the commitments we’ve made as a UN Global Compact member guide our strategy.
As we celebrate the 20th anniversary of Verizon, a name that combines the Latin word for truth with the English word horizon, we can scarcely conceive of what the next 20 years will hold. But with our eye always on the horizon, we will continue to honor the commitment our founders made to truth and transparency as we move forward toward achieving our ambitious goals.
Chairman and Chief Executive Officer, Verizon
“With our new Verizon 2.0 strategy, we are dedicating our 135,000-plus employees, our influence as a purchaser of more than $63.5 billion of goods and services, and our technology and innovation to create positive impact in a sustainable way.”