April 24 (Renewables Now) - Verizon Communications Inc (NYSE:VZ) announced on Monday its commitment to go carbon neutral by 2035 through a combination of measures, such as direct emissions reduction, the purchase of renewable energy and carbon offsets.
For 2025, Verizon aims for a 50% carbon intensity reduction.
The US telecommunications company’s plan is to neutralise its Scope 1 and Scope 2 emissions. The former refers to all direct sources of emissions owned or controlled by Verizon, the main ones being fuel to power fleet, heat buildings and power back-up generators. The latter concerns indirect emissions sources generated off-site but purchased by Verizon, such as electricity for networks and data centres, as well as steam and heat.
According to the company’s emissions and carbon intensity report, Verizon increased carbon dioxide (CO2) Scope 1 emissions by 1.1% in the 2016-2017 period. Scope 2 and Scope 3 emissions, derived from corporate business travel, were cut by 18.2% and 24%, respectively, in the same timeframe.
In February, the company launched a USD-1-billion green bond to fund both new and existing environmentally friendly investments.