Verizon Announces Aggressive Sustainability Goal
Company Issues Its First Combined Annual and Corporate Responsibility Report; Outlines Strategy for Delivering Long-Term Shareholder Value by Addressing Social Issues Such as Health Care and Energy
(3BL Media) New York, NY – March 19, 2012 – Verizon announced today that it will cut its CO2 intensity in half by 2020, as part of the company’s broad sustainability efforts. Sustainability is a key aspect of the company’s new strategy for delivering shareholder value. The other aspects are developing marketplace solutions to address social issues like health care and energy, and aligning the company’s philanthropic work with these issues to maximize community benefits.
“This is the era of big data,” said Verizon Chairman and CEO Lowell McAdam. “Our business continues to grow at a rapid pace, but we’re committed to innovating our way to growing responsibly by becoming more energy efficient, even as our business expands.” McAdam also took part in a “CEO Sit-Down” with Bloomberg TV correspondent Alix Steel today at the fifth annual Bloomberg New Energy Finance Summit.
Carbon intensity – the amount of energy needed to move data across Verizon’s network -- is a measurement of energy efficiency. It is improved by reducing the absolute amount of energy and by moving more data with the same unit of energy. Verizon is using its 2009 carbon intensity level as the benchmark for the company’s 50 percent reduction by 2020.
To reinforce its commitment to its new shareholder-value strategy, the company today issued its first combined annual and corporate responsibility report, which is available at http://responsibility.verizon.com.
Fueling Social Innovation
Verizon believes that creating healthy, sustainable communities is the surest path to creating a healthy and sustainable business.
“For Verizon, our most exciting growth opportunities occur where business and social interests intersect,” McAdam said in a shareowners letter in the report. “As we look at how technology is transforming business and society, we see expanding opportunities ahead for us to use our unique network platforms to make a difference in the world. We believe we can become an even bigger force for good in the world – and, in doing so, extend our legacy of growth and shareowner value for many years to come.”
By focusing on mobility, broadband and global connectivity, Verizon is breaking down old technology barriers and empowering businesses and communities. Verizon’s annual report describes the following initiatives:
Removing Barriers to Health Care
Some 200,000 Americans die every year from treatable chronic disease, many because they lack ready access to medical care due to barriers of distance, time or availability of doctors and nurses. In one example of how Verizon is using 4G LTE technology to overcome these barriers, the company is working with health insurance provider WellPoint to change the model for delivering patient services via secure videoconferencing. WellPoint subscribers will soon be able to use their smartphones and tablets to consult with nurse managers for help in managing chronic conditions.
Through a grant from the Verizon Foundation, the University of Virginia launched its first telehealth nursing program to train medical personnel at the school’s Wise County campus on the use of emerging telehealth technologies to improve health care access and services in rural regions of the state.
(NOTE: To view a video of just some of the ways that Verizon is transforming the way health care is delivered, visit: http://www.youtube.com/watch?v=7Ck6XX0qeNc.)
Making Education Accessible
Using technology to prepare students for success in the 21st century has long been a focus of the Verizon Foundation. Rapid deployment of 4G LTE mobile networks will be a game-changer in education, as it enables the adaptation of various technologies in the education setting. At St. Phillips Academy in Newark, N.J., for example, a VGo telepresence robot helps solve several classroom challenges including helping a homebound student undergoing medical treatments stay involved with the class.
And Verizon’s award-winning educational website, Thinkfinity.org, will evolve into more than just one of the most popular Web resources for teachers. The foundation is working to develop an integrated solution that brings education to life on smartphones and tablets.
For more information about how Verizon is helping to make communities stronger and more sustainable and building on a foundation for long-term growth, visit http://responsibility.verizon.com/. Information on the Verizon Foundation is available at www.verizonfoundation.org.
Verizon Communications Inc. (NYSE, Nasdaq: VZ), headquartered in New York, is a global leader in delivering broadband and other wireless and wireline communications services to consumer, business, government and wholesale customers. Verizon Wireless operates America’s most reliable wireless network, with nearly 108 million total connections nationwide. Verizon also provides converged communications, information and entertainment services over America’s most advanced fiber-optic network, and delivers integrated business solutions to customers in more than 150 countries, including all of the Fortune 500. A Dow 30 company with $111 billion in 2011 revenues, Verizon employs a diverse workforce of nearly 194,000. For more information, visit www.verizon.com.
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