Verizon — full event log
Every event we have on file across every reporting year. The Data-by-year tab summarises the top 10 per year; this page shows them all.
← back to Data by year2025· 12 events
Verizon committed to net-zero operational (scope 1 and 2) GHG emissions by 2035, with an interim SBTi-approved target of 53% reduction by 2030 over a 2019 baseline (market-based scope 2).
sustainability_report p.13
In 2025, Verizon announced a $5B commitment over the next five years to invest in America and support small businesses through the Small Business Supplier Accelerator.
sustainability_report p.9
Verizon targets sourcing renewable energy equivalent to 100% of annual electricity usage by 2030. Achieved interim 50% by 2025 target.
sustainability_report p.13
Verizon's EHS department maintains ISO 14001 (environmental) and ISO 45001 (occupational health and safety) certifications for its EHS management system.
sustainability_report p.7
Verizon expects to acquire significant physical telecommunications infrastructure in Q1 2026, which will significantly alter the geographic footprint of landline operations and may significantly affect total electricity consumption. Physical and transition risk scenario analyses are delayed pending the acquisition.
sustainability_report p.3
Verizon committed to a 40% reduction in scope 3 emissions over a 2019 baseline by 2035, SBTi-approved. Covered categories: purchased goods & services, capital goods, fuel- and energy-related activities, upstream transportation, waste in operations, business travel, employee commuting, downstream transportation, use of sold products, end-of-life treatment of sold products.
sustainability_report p.13
Because most of Verizon's operational carbon footprint comes from electricity that powers its networks, the path to operational net zero relies heavily on renewable energy transition. Verizon achieved its 50% interim target by 2025 and is targeting 100% renewable energy equivalent to annual electricity usage by 2030. The company is bringing additional renewable energy to the U.S. grid primarily by entering into long-term renewable energy purchase agreements (REPAs) for solar and wind power. Progress is tracked via renewable electricity generated on-site or via energy attribute certificates divided by total electricity consumed.
sustainability_report p.8
Verizon's strategic focus on network modernization and decommissioning of legacy equipment continues to drive significant energy savings. As part of a wireline network transformation initiative, copper-based services are being migrated to fiber technologies, which enables decommissioning of energy-intensive switches and use of newer intelligent edge platforms. Fiber-delivered broadband is significantly more efficient on a kWh-per-gigabyte basis than copper-delivered broadband.
sustainability_report p.9
Verizon implements multiple initiatives across active 4G/5G networks: optimizing power usage, equipment placement and heat generation to reduce cooling demand; increasing heat tolerance of network sites with high-temperature batteries; upgrading HVAC; enhancing equipment with lower-power and sleep modes; and migrating to clean energy sources such as fuel cells and solar power where practicable. AI and machine learning are used to drive energy efficiency.
sustainability_report p.9
Verizon installs energy-efficient systems and employs energy-management best practices across buildings while consolidating its real estate portfolio to co-locate people and equipment. Data centres are designed and operated for optimal energy efficiency, leveraging environmental tolerances of hardware suppliers to enable free cooling, waterside economizers, evaporative cooling, aisle containment and passive exhaust.
sustainability_report p.9
Verizon is reducing fleet emissions by replacing aging bucket trucks (excluding special-use vehicles) with hybrid drive systems, using optimized vehicle dispatching technology and automation to minimize miles driven and reduce Fios truck rolls, and purchasing EVs at a rate aligned with available products and charging infrastructure suitable for operations.
sustainability_report p.9
Verizon's Centralized Operations function oversees supply chain resilience, circularity and value-chain engagement. The Global Supply Chain Resilience Governance Council manages supplier risk including environmental impacts. The Third Party Risk Management program identifies, assesses and monitors supply chain risks including environmental impacts of supplier activity. Scope 3 reduction of 40% by 2035 (SBTi-approved) covers purchased goods, capital goods, transportation, business travel, employee commuting, use of sold products and end-of-life treatment.
sustainability_report p.13
2024· 19 events
On September 4, 2024, Verizon entered into an Agreement and Plan of Merger to acquire Frontier Communications Parent, Inc., a U.S. broadband internet provider. Frontier shareholders approved the transaction in November 2024. Consummation is subject to regulatory approvals. Expected to enhance fiber broadband footprint.
sustainability_report p.49
Established in 2024 to oversee CSRD and CSDDD compliance efforts.
sustainability_report p.4
Verizon conducted a pilot LEAP assessment in 2024 in line with the recommendations of the Task Force on Nature-related Financial Disclosures to better understand nature-related impacts and dependencies.
sustainability_report p.16
Verizon aims to collect and recycle 10 million pounds of e-waste from communities by 2026. Since 2009, over 9.2 million pounds collected.
sustainability_report p.17
Renewable electricity reached 49.8% of total energy consumed in 2024, up from 30.6% in 2023 and 11.3% in 2022. The majority of renewable energy is obtained through Renewable Energy Purchase Agreements (REPAs) that deliver energy attribute certificates (RECs). In certain cases, project RECs are swapped for non-project RECs. Market-based Scope 2 emissions fell 64% from the 2019 baseline to 1,458,535 MT CO2e in 2024.
sustainability_report p.19
Electricity to power networks and data centers is Verizon's largest Scope 2 source. Verizon manages water consumption at technical facilities through upgrades to cooling towers, replacing water-cooled equipment with closed-loop and refrigerant-based systems. Energy efficiency measures in technical buildings also reduce water consumption.
sustainability_report p.16
Scope 1 emissions — primarily fuel for fleet, building heat and backup generators — fell 26% from 2019 to 265,859 MT CO2e in 2024. Verizon tracks fuel including natural gas, gasoline, diesel, jet fuel, propane, CNG, biofuels (B02-B20, E85), methanol and ethanol.
sustainability_report p.18
Purchased goods and services + capital goods together account for 79% of total Scope 3 emissions. Supplier engagement uses EcoVadis assessments (764 key suppliers since 2013) and JAC audits (1,210 audits since 2010, 150 in 2024). Supplier Code requires waste reduction, recycled content and minimized single-use plastics.
sustainability_report p.18
Use of sold products accounts for 12% of Scope 3 emissions. Verizon's teardown lab systematically deconstructs network equipment and devices to drive design optimization that improves product energy efficiency from production to disposal.
sustainability_report p.18
Recycled or reused over 92 million pounds of materials in 2024, including 49 million pounds of e-waste (1.4M lbs plastic, 2.2M lbs lead-acid batteries). Device trade-in program reuses, resells or recycles mobile phones from any brand. Plastic from routers and set-top boxes is repurposed into road signs, park benches and office chairs. Engages e-waste recyclers certified to R2 and e-Stewards.
sustainability_report p.17
In June 2024, Verizon announced a voluntary separation program for select U.S.-based management employees. Approximately 4,800 eligible employees will separate by end of March 2025, resulting in $1.7 billion pre-tax severance charges recorded in 2024.
sustainability_report p.37
On March 6, 2024, Verizon completed purchase of group annuity contracts from Prudential and RGA, settling approximately $5.8 billion of benefit liabilities for 56,000 retirees, resulting in a net pre-tax settlement gain of $200 million.
sustainability_report p.90
As of December 31, 2024, Verizon had 28 renewable energy purchase agreements (REPAs) with third parties for approximately 3.7 gigawatts of anticipated renewable energy capacity across multiple states, with fixed price terms of 12-20 years. Nineteen facilities have entered commercial operation.
sustainability_report p.107
In December 2024, Verizon completed a transaction with Vertical Bridge REIT, LLC in which Vertical Bridge obtained exclusive rights to lease, operate and manage over 6,000 wireless towers for an upfront payment of $2.8 billion over approximately 30 years.
sustainability_report p.73
On October 17, 2024, Verizon entered into a license purchase agreement to acquire select spectrum licenses of United States Cellular Corporation for total consideration of $1.0 billion, subject to regulatory approvals and other closing conditions.
sustainability_report p.49
As of December 31, 2024, Verizon had 28 renewable energy purchase agreements (REPAs) with third parties for a total of approximately 3.7 gigawatts of anticipated renewable energy capacity across multiple states. Each REPA has a fixed price term of 12 to 20 years from the commencement of commercial operation. Nineteen facilities have entered commercial operation; the remainder are under development. The REPAs are generally financially settled based on prevailing market prices as energy is generated. Verizon also issued green bonds (e.g., Verizon 5.500% notes due 2054) whose proceeds are earmarked to fund renewable energy projects.
sustainability_report p.107
Verizon states it strives to improve the energy efficiency of its networks, facilities and fleet, balancing increased energy needs from network expansion and 5G densification with initiatives to manage consumption. These include deploying more energy-efficient equipment, discontinuing or migrating legacy services (e.g., 3G shutdown, copper-to-fiber migration), and pursuing renewable energy sources. The evolution to 5G architecture also enables simplification of operations by eliminating legacy network elements, which reduces energy intensity per unit of traffic.
sustainability_report p.7
Verizon acknowledges in its risk factors that carbon/climate-related regulations and policy changes in fuel or energy prices could increase costs for its vehicle fleet dependent on traditional fuels. This implies an active lever around fleet electrification or efficiency, though specific EV targets or timelines are not detailed in this 10-K filing.
sustainability_report p.17
Verizon's 5G network deployment and fiber expansion (including the pending Frontier acquisition) are positioned as enabling customers to use more efficient connectivity infrastructure. 5G technology provides higher throughput per unit of spectrum and energy compared to 4G, and Verizon's 100% fiber-optic Fios network is more energy-efficient than legacy copper networks. These infrastructure investments underpin avoided emissions enabled by Verizon's services, though no formal avoided emissions figures are quantified in this filing.
sustainability_report p.7
2023· 16 events
Applied environmentally extended input-output (EEIO) emissions factors developed by The Carbon Trust and added well-to-tank emissions calculation to relevant Scope 3 categories.
sustainability_report p.23
Multi-faceted approach: hybrid bucket trucks (battery-powered aerial lifts eliminate idling), electric battery systems replacing gas generators in fiber splicing vans, engine recalibration of legacy Fios vans, route optimization, and electrification of light-duty customer-facing vehicles. Fleet fuel consumption dropped from 22.2M gallons (2021) to 18.7M (2023). Active in NAFA, Advanced Energy Group, GM EV Vision Board, Green Truck Association, Corporate EV Alliance to spur availability of commercial EVs.
sustainability_report p.44
Strategic decommissioning of legacy equipment (3G network shut down January 2023; copper to fiber migration — fiber is 100x more efficient on kWh/GB basis than copper). Energy efficiency initiatives include powering down idle radios, relocating heat-generating equipment outdoors, upgrading cell-site HVAC, AI-driven cooling optimization, and partnering with the National Renewable Energy Laboratory on off-grid solar for fuel-powered generator sites. 677 ENERGY STAR certifications since 2001; ENERGY STAR Partner of the Year for 11 consecutive years.
sustainability_report p.45
In 2023, Verizon adjusted the 2019 scope 3 baseline to reflect a) the acquisition of TracFone Wireless in November 2021, b) application of EEIO emissions factors from The Carbon Trust and c) calculation of well-to-tank emissions. These updates increased the scope 3 base-year from 16,954,198 to 18,979,748 MT CO2e (~12% increase).
sustainability_report p.23
Most of Verizon's emissions are upstream (scope 3 ~79% of total). Invited 318 key suppliers to respond to 2023 CDP Climate Change survey via CDP Supply Chain program; participating in CDP Science-Based Targets Campaign to press high-impact suppliers to commit to SBTi 1.5°C-aligned targets. Carbon maturity analysis of key suppliers conducted; assessing 728 key suppliers via EcoVadis since 2013. Industry collaboration through GeSI, JAC, MIT Climate & Sustainability Consortium.
sustainability_report p.46
Goals aligned with SDGs 4, 7, 8, 13, 15, 16 — including renewable energy, energy efficiency, decent work, climate action.
sustainability_report p.70
Target to source renewable energy equivalent to 50% of annual electricity usage by 2025 and 100% by 2030. Joined RE100 in 2023.
sustainability_report p.41
To demonstrate commitment to global renewable energy transition, Verizon joined RE100 in 2023.
sustainability_report p.45
In Q4 2023, Verizon recorded a non-cash goodwill impairment charge of approximately $5.8 billion ($5.8 billion after-tax) related to the Business reporting unit, driven by secular declines in wireline services, lower projected cash flows, and macroeconomic pressures including higher interest rates.
sustainability_report p.26
Verizon has set targets to source renewable energy equivalent to 50% of annual electricity by 2025 and 100% by 2030, and joined RE100 in 2023. As of February 2024, 27 long-term renewable energy purchase agreements (REPAs) for ~3.6 GW of anticipated capacity are in place, with 15 projects in commercial operation (~1.8 GW contracted). RECs from REPAs are retired against actual electricity consumption. Verizon is one of the largest U.S. corporate green bond issuers ($6B issued, ~$5B allocated primarily to REPAs). On-site solar/green generation: 37.6 MW installed since 2013. The contracted capacity is expected to avoid >4.7M tCO2e annually.
sustainability_report p.46
Strategic Decarbonization Audit program selects sites based on fuel use, building age, energy performance, and state/local building performance standards. Year-long audits focus on HVAC electrification and retro-commissioning. Implementing heat recovery chillers, submetering, heat pumps, adiabatic coolers, LED lighting and on-site solar across the portfolio.
sustainability_report p.44
Teardown lab disassembles equipment to optimize design for sustainability. Internal life cycle assessment calculator under development. Circular Supply Chain team extends device life via repurposing; device trade-in program for repair, repurpose, resell. Recycled/reused ~79M pounds in 2023 including 47M pounds of e-waste. Incorporating PCW, recycled resin, ocean-bound plastics in routers, set-top boxes, remotes. Eliminating single-use plastics from reverse logistics.
sustainability_report p.46
Verizon expects to achieve net-zero scope 1 and 2 emissions by 2035, with an interim SBTi-validated target of 53% reduction by 2030 over 2019 baseline. Scope 3 target: 40% reduction by 2035.
sustainability_report p.41
In 2023, Verizon eliminated dematerialization (reduction in production of physical products such as newspapers, CDs and DVDs) from the model for measuring avoided emissions. Retaining it would have resulted in ~20.9M tCO2e instead of reported 20.1M.
sustainability_report p.71
Goals: 10M youths with digital skills by 2030; 1M small businesses by 2030; 500K individuals prepared for jobs of future by 2030; 2.5M employee volunteer hours by 2025.
sustainability_report p.52
To address residual emissions that Verizon is ultimately unable to abate, the company plans to pursue carbon removal solutions. The strategy currently lacks specifics on DAC, BECCS, biochar or removal volumes.
sustainability_report p.44
2022· 15 events
Verizon's EHS department maintains ISO 14001 (environmental) and ISO 45001 (occupational health and safety) certifications for the EHS management system
sustainability_report p.28
Installed 37.6 MW of on-site green energy generation since 2013, with new solar PV at Basking Ridge NJ, Irving TX, Rocklin CA in 2022, and Garden City NY nearing completion. Investment in community solar programs in MA and NY delivering renewable power to local residents.
sustainability_report p.21
Verizon is one of the largest corporate green bond issuers in the U.S., with $4 billion in green bonds issued since 2019. Net proceeds allocated primarily to VPPAs for new renewable energy projects. Green Financing Framework aligns issuance with UN SDGs and pledges to engage diverse-owned underwriters.
sustainability_report p.23
Verizon partners with CDP and EcoVadis to engage suppliers in fully reporting scope 1, 2, and 3 emissions, obtain external assurance, and set their own emissions reduction targets. 623 key suppliers assessed via EcoVadis since 2013. Member of Joint Alliance for CSR (JAC); 910 supplier audits completed since 2010.
sustainability_report p.55
Beginning in 2022, adjustments to assumptions and estimations used in network traffic calculation; 2021 metric was recast.
sustainability_report p.60
Expect to achieve a 40% reduction in scope 3 emissions from value chain to limit warming to well-below 2°C, over 2019 baseline (SBTi approved)
sustainability_report p.18
Commitment to provide 10 million youths with digital skills training by 2030, 1 million small businesses with digital resources by 2030, and prepare 500,000 individuals for jobs of the future by 2030
sustainability_report p.68
As of February 10, 2023, Verizon has 26 long-term virtual power purchase agreements (VPPAs) totaling approximately 3.3 GW of anticipated renewable energy capacity, making Verizon one of the largest corporate buyers of renewable energy in the U.S. Seven projects are in commercial operation (~0.8 GW, ~25% of portfolio). Verizon retires the RECs against actual energy consumption. Verizon expects renewable energy equivalent to 50% of electricity by 2025 and 100% by 2030. Also installed 37.6 MW of on-site solar generation since 2013. Joined Clean Energy Buyers Association in 2021.
sustainability_report p.23
Fleet fuel consumption dropped from 24.3M gallons (2020) to 19.4M gallons (2022). Verizon is transitioning customer-facing fleet to electric vehicles, deploying battery systems on bucket trucks to eliminate engine idling, downsizing engines, and building EV charging at 76 locations. Active in National Association of Fleet Administrators, GM EV Vision Board, Corporate Electric Vehicle Alliance.
sustainability_report p.21
Verizon expects to achieve net zero operational emissions (scope 1 and 2) by 2035, with interim 53% reduction by 2030 over 2019 baseline approved by SBTi
sustainability_report p.18
Expect to source renewable energy equivalent to 100% of annual electricity usage by 2030, and 50% by 2025
sustainability_report p.18
Verizon states that while energy efficiency and renewable energy initiatives will bring it close to operational net zero, it will eventually need to purchase carbon offsets for remaining emissions that cannot be eliminated directly. Verizon is a member of 1t.org and pledged to sponsor planting of 20 million trees worldwide by 2030; nearly 14 million trees sponsored since 2009.
sustainability_report p.20
Verizon issued its fourth $1 billion green bond in 2022, total $4 billion since 2019; proceeds allocated primarily to renewable energy VPPAs
sustainability_report p.23
Most of Verizon's operational footprint comes from electricity powering networks. Migration from copper to fiber broadband (fiber is at least 100x more efficient kWh per gigabyte). AI-driven network cooling optimization, free-cooling economizers, high-efficiency HVAC, data center waterside economizers and aisle containment. EPA ENERGY STAR Partner of the Year for 10th consecutive year; 668 ENERGY STAR certifications and 359 LEED projects.
sustainability_report p.20
Verizon's products (smart building, smart grid, smart transport, telematics, telecommuting, telehealth, smart meters) enabled customers to avoid 15.2 million metric tons CO2e in 2022, equivalent to 3.3 million cars. Over 73 million metric tons of CO2e avoided cumulatively since 2018. Target: enable customers to avoid 20 million tCO2e annually by 2030.
sustainability_report p.25
2021· 2 events
Verizon acquired TracFone Wireless in November 2021. Impact on scopes 1 and 2 base year deemed de minimis; scope 3 baseline updated. Reported 2021 and 2022 results exclude TracFone.
sustainability_report p.23
Completed acquisition of TracFone Wireless on November 23, 2021. Reported emissions, energy, water, waste metrics exclude TracFone.
sustainability_report p.2