The Climate Pledge is a commitment co-founded by Amazon and Global Optimism that calls on new signatories to be net zero carbon across their businesses by 2040 so that we are able to meet the Paris Agreement goals 10 years early. Verizon just announced that it has joined The Climate Pledge and even issued a $1 billion green bond to invest in innovative solutions to accelerate the company’s sustainability efforts.
This includes powering operations with 50% renewable energy by 2025 and new virtual power purchase agreements (VPPA) for more than 380 MW of new wind and solar power capacity.
“As the climate crisis worsens, more companies will need to get serious and challenge themselves to achieve decarbonization at a faster pace,” said Christiana Figueres, the UN’s former climate change chief and founding partner of Global Optimism.
By joining The Climate Pledge and agreeing to decarbonize at a faster rate, Verizon will play a role in stimulating investment in the development of low carbon products and services that will be required to help companies meet the pledge.