Verizon joins the World Economic Forum’s Trillion Trees Platform

Rhea-AI Summary

Verizon has announced an increase in its tree planting commitment to 20 million trees by 2030, doubling its previous goal. The company has previously planted over three million trees since 2009. As part of its sustainability initiatives, Verizon also unveiled its most eco-friendly retail bag, made from 90% post-consumer waste and fully recyclable. These efforts are part of Citizen Verizon, which aims for carbon neutrality in operations by 2035 and includes plans for sourcing 50% of its electricity from renewable sources by 2025.

Positive

• Doubling tree planting goal to 20 million by 2030.
• Introduced eco-friendly retail bag made from 90% post-consumer waste.
• Plans to achieve carbon neutrality in operations by 2035.
• Aiming to source 50% of total electricity from renewable sources by 2025.

Negative

• None.

In addition to doubling their tree planting goal to 20 million trees by 2030, Verizon introduces new, sustainable retail bag

BASKING RIDGE, N.J., Nov. 10, 2020 (GLOBE NEWSWIRE) -- Verizon today announced it has joined the U.S. Chapter of 1t.org - the Trillion Trees Platform led by the World Economic Forum and American Forests to support the global movement to conserve, restore and grow 1 trillion trees worldwide. Verizon has pledged to double its current goal, set in 2019, of 10 million trees planted by 2030 to 20 million trees. The company’s reforestation efforts include planting over three million trees since 2009. In addition, the company is introducing its most sustainable retail bag ever, showcasing the collaboration across the company on actions to protect the planet. These initiatives are part of Citizen Verizon, the company’s responsible business plan for economic, environmental and social advancement, and reinforce the company’s commitment to Climate Protection with the goal of becoming carbon neutral in their operations by 2035.

“Verizon is committed to protecting our planet for future generations. We’re taking broad climate actions including investing in renewable energy, creating solutions that help customers save energy and committing to global reforestation projects. As part of our planet-first focus, we’re doubling down on our tree planting commitment and making an additional 10 million tree pledge through the World Economic Forum’s Trillion Trees Platform,” said James Gowen, Chief Sustainability Officer and Vice President of Global Supply Chain, Verizon.

“As one of the largest telecoms providers in the United States, it’s wonderful to see Verizon’s ambitious commitment to grow 20 million trees by 2030. The U.S. Chapter of 1t.org is thrilled to receive Verizon’s pledge, and hope that it inspires other companies to join the global movement to conserve, restore and grow our forests,” said Justin Adams, Director of Nature-Based Solutions, World Economic Forum.

To further support Climate Protection, Verizon has created the company’s most eco-friendly retail bag to date, which will launch this holiday season. The sustainably designed shopping bag, which will be available in select Verizon stores across the country, is made from nearly 90% post-consumer waste (PCW) - more than double the PCW of the current shopping bag - and is 100% recyclable and reusable. The existing shopping bag will stay in rotation while current supplies last.

“The commitments Verizon has made to protect the environment call for partnerships across the entire company to build solutions that will create impact. The launch of our new, sustainable retail bag and the doubling of our tree planting efforts are great examples of the partnership between marketing and sustainability to create not only the future of the consumer experience but also the future of a healthy planet,” said Diego Scotti, Chief Marketing Officer, Verizon.

These steps are just a small part of Verizon's Climate Protection actions, which also include sourcing or generating renewable energy equivalent to 50% of its total annual electricity consumption by 2025. Verizon is also supporting the transition to a greener grid by making substantial investments in renewable energy. The company recently announced its second $1 billion Green Bond offering, with net proceeds being used primarily for long-term renewable energy purchase agreements, which support the construction of solar and wind facilities that will bring new renewable energy to the grids that power its networks.

Earlier this year, Verizon joined The Climate Pledge - a commitment co-founded by Amazon and Global Optimism to meet the Paris Agreement 10 years early. In addition, Verizon is supporting the We Mean Business coalition with a $1 million commitment to help scale climate action and provide small businesses with tools and education to help them reduce their carbon emissions.

To learn more about how Verizon is delivering on its mission to move the world forward through action, visit: CitizenVerizon.com.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

Citizen Verizon is the company’s responsible business plan for economic, environmental and social advancement. Citizen Verizon empowers Verizon to deliver on its mission to move the world forward through action by expanding digital access and resources, protecting the climate, and ensuring people have the skills needed for jobs of the future. Through Citizen Verizon, and the key pillars of Digital Inclusion, Climate Protection and Human Prosperity, the company is committed to providing 10 million youths with digital skills training by 2030, supporting 1 million small businesses with resources to help them thrive in the digital economy by 2030, achieving carbon neutrality in its operations by 2035, and preparing 500,000 individuals for jobs of the future by 2030. Learn more at CitizenVerizon.com.

The World Economic Forum, committed to improving the state of the world, is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas.

Learn about the World Economic Forum’s impact: https://www.weforum.org/our-impact

Learn more about us.1t.org

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at https://www.verizon.com/about/media-center. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact: 
Bernadette Brijlall
bernadette.brijlall@verizon.com

Megan Schaefer
megan.schaefer@verizon.com

FAQ

What is Verizon's new tree planting goal?

Verizon has doubled its tree planting goal to 20 million trees by 2030.

When did Verizon announce its sustainability initiatives?

Verizon announced its sustainability initiatives on November 10, 2020.

What materials are used in Verizon's new retail bag?

Verizon's new retail bag is made from 90% post-consumer waste and is fully recyclable.

What are Verizon's carbon neutrality goals?

Verizon aims to achieve carbon neutrality in its operations by 2035.

What percentage of Verizon's electricity will come from renewable sources by 2025?

Verizon plans to source 50% of its total electricity from renewable sources by 2025.