Greenhouse gas (GHG) emissions are the prime cause of global warming. Global warming causes danger to the life on earth, posing a threat to fresh water, food, and energy supplies. Carbon dioxide (CO2), methane (CH4), and nitrogen oxides (NOx) are GHGs produced by the combustion of oil, fossil fuels, and other sources.
Approximately 2% to 3% of worldwide greenhouse gas emissions is generated by the technology and communication industry. GHG emissions are produced by industry operations such as energy consumption, product manufacture, and product use. According to the International Telecommunication Union, digital technology has the potential to reduce world carbon emissions by roughly 17%. Technology companies can help other industries improve their operational efficiency by cutting GHG emissions.
Verizon Communications Inc (Verizon) provides communications, information and entertainment products and services. The company offers voice, data and video services and solutions through its wireless and wireline networks. It offers value added services, such as broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services, and local and long-distance voice services. In 2020, the technology company reported total GHG emissions of around 21.74 million tonnes CO2 equivalents (MtCO2eq), down 7% from 2019.
Scope 1, 2, and 3 emissions are the three categories of GHG emissions. Scope 1 emissions result from all direct sources of emissions owned or controlled by Verizon, with the main categories being fuel to power the fleet, heat the buildings and power our backup generators. Indirect emissions from energy purchased by Verizon, such as electricity to power the networks and data centers, plus a small amount of steam and heat purchased to heat the buildings are referred to as Scope 2. Scope 3 emissions refer to the company's other indirect emissions beyond the company’s direct operations and occur in the company’s value chain, including upstream and downstream activities, such as purchased goods and services, use of sold products and employee business travel.
Scope 3 emissions account for most of Verizon’s overall GHG emissions, accounting for 79.3% of total GHG emissions (17.24 MtCO2eq) in 2020. In 2020, the company's Scope 1 emissions fell by 8%, whereas Scope 2 emissions fell by 7%.
Verizon has committed to achieve net zero emissions in their operations by 2035, including by sourcing or generating renewable energy equivalent to 50% of the annual electricity consumption by 2025. The company has issued $4 billion in green bonds since 2019 which is instrumental to meet long-term operational net zero goal and interim renewable energy goal.
United States of America
United States of America
South Korea
Germany
Japan
United States of America
China
Ireland
United States of America
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer
Contact the team or request a demo to find out how our data can drive your business forward