Verizon Emissions Reporting
We have set the below enterprise-wide emissions reduction and sourcing targets and are formulating a plan to reach net-zero greenhouse gas (GHG) emissions across our value chain.
We report on our progress in our responsible business and TCFD reporting. Reference Verizon’s Responsible Business Reporting webpage for more details.
Emissions reduction and sourcing targets and progress
Metric | Target | Type | Time frame (YE) | Progress |
|---|---|---|---|---|
Emissions | ||||
Scopes 1 and 2 emissions1,2 | Expect to achieve net-zero operational emissions | Absolute | By 2035 | As of year-end 2024, achieved a 61% reduction in our scopes 1 and 2 emissions (market-based) over a 2019 baseline |
Expect to achieve a 53% reduction in our operational (scope 1 and 2) emissions to limit global warming to 1.5°C (over a 2019 baseline)2 | Absolute SBTi-approved target | By 2030 | ||
Scope 3 emissions1,3 | Expect to achieve a 40% reduction in our scope 3 emissions (from our value chain) to limit global warming to well-below 2°C (over a 2019 baseline)2 | Absolute SBTi-approved target | By 2035 | As of year-end 2024, achieved a 28% reduction in our scope 3 emissions over a 2019 baseline |
Energy | ||||
Renewable energy sourced4 | Expect to source renewable energy equivalent to 50% of our annual electricity usage by 2025 and 100% by 2030 | Absolute | By 2025 (50%) | In 2024, sourced renewable energy equivalent to 56% of our annual electricity usage |
Verizon’s emissions profile
Verizon voluntarily discloses our operational (scope 1 and 2) and value chain (scope 3) emissions data.
Scopes 1 and 2 emissions data
GHG emissions CO2e (metric tons) | 2019 | 2023 | 2024 | % Change 2019-2024 |
|---|---|---|---|---|
Scope 1 | 358,753 | 269,333 | 265,859 | -26% |
Scope 2 (location-based) | 4,006,874 | 3,511,076 | 3,596,917 | -10% |
Scope 2 (market-based) | 4,006,874 | 2,195,515 | 1,458,535 | -64% |
Total Scope 1 & 2 (location-based) | 4,365,627 | 3,780,409 | 3,862,776 | -12% |
Total Scope 1 & 2 (market-based) | 4,365,627 | 2,464,848 | 1,724,394 | -61% |
Scope 3 emissions data
| 20195 | 2023 | 2024 | % Change 2019-2024 |
|---|---|---|---|---|
Upstream scope 3 | 17,360,388 | 13,412,213 | 12,028,518 | -31% |
Downstream scope 3 | 1,619,361 | 1,711,971 | 1,714,720 | 6% |
Scope 3 | 18,979,748 | 15,124,184 | 13,743,238 | -28% |
Scope 3 categories
| 20195 | 2023 | 2024 |
|---|---|---|---|
1 – Purchased goods & services | 15,545,157 | 12,150,133 | 10,863,101 |
3 – Fuel- and energy-related and activities | 1,021,844 | 921,537 | 821,732 |
4 – Upstream transportation and distribution | 64,752 | 111,616 | 98,382 |
5 – Waste in operations | 39,320 | 16,998 | 789 |
6 – Business travel | 175,135 | 48,951 | 74,759 |
7 – Employee commuting | 514,180 | 162,978 | 169,755 |
8 – Upstream leased assets | Not Applicable | Not Applicable | Not Applicable |
9 – Downstream transportation and distribution | 60,003 | 14,213 | 14,207 |
10 – Processing of sold products | Not Applicable | Not Applicable | Not Applicable |
11 – Use of sold products | 1,557,137 | 1,696,335 | 1,698,949 |
12 – End-of-life of sold products | 2,220 | 1,423 | 1,564 |
13 – Downstream leased assets | Not Applicable | Not Applicable | Not Applicable |
14 – Franchises | Not Applicable | Not Applicable | Not Applicable |
15 – Investments | Not Calculated | Not Calculated | Not Calculated |
Verizon-specific emissions intensity
The following table provides Verizon-specific emissions intensity factors based on revenue.
Intensity indicator | Year | Intensity unit | Intensity factor |
|---|---|---|---|
Operational emissions per $ of revenue (location-based) | 2024 | MT CO2e per $ | 0.00003 |
Operational emissions per $ of revenue (market-based) | 2024 | MT CO2e per $ | 0.00001 |
Operational + upstream value chain emissions per $ of revenue (location-based) | 2024 | MT CO2e per $ | 0.00012 |
Operational + upstream value chain emissions per $ of revenue (market-based) | 2024 | MT CO2e per $ | 0.00010 |
External assurance
Verizon annually obtains independent limited assurance over key environmental indicators, including our scope 1, scope 2 (location- and market-based) and scope 3 GHG emissions and emissions intensity factors. For 2023, Verizon also obtained independent limited assurance over the adjusted 2019 scope 3 emissions baseline.
For other information or claims regarding Verizon’s emissions that are not specifically identified as being independently assured, Verizon relies on the application of various internal policies (including those requiring the creation and maintenance of accurate records and the establishment of internal controls over externally reported financial and non-financial information) and compliance with data quality standards and verification procedures set forth in our information governance and controls frameworks to validate such information or claims. See our Externally Assured Responsible Business Data page for more information.
Renewable energy
Because most of our operational carbon footprint comes from the electricity that powers our networks, we have set targets to source renewable energy equivalent to 50% of our annual electricity usage by year-end 2025 and 100% by year-end 2030. In 2024, we met our 50% target early.
Our renewable energy purchase program is focused on supporting the transition to a greener U.S. electrical grid. As our U.S network operations are located across the country and require a constant supply of electricity, we are dependent on sourcing power from the grid. Today, much of that is produced from conventional fossil fuels, such as coal, natural gas and oil. We are working to bring additional renewable energy to the grid by entering into long-term renewable energy purchase agreements (REPAs) for solar and wind power.
REPAs do not require physical delivery of energy. Rather, the facility operator sells the energy into the wholesale market, and we typically receive the market rate and the renewable energy credits (RECs) associated with the energy sold. We retire these RECs against our actual electricity consumption to track our progress toward meeting our renewable energy targets.
Outside the U.S., we aim to procure most of our electricity from renewable sources and obtain guarantee of origin certificates from our utility providers. These certificates, as with RECs, are accounted for in evaluating progress toward meeting our renewable energy targets.
As of February 1, 2025, we had in place 28 long-term REPAs for a total of approximately 3.7 gigawatts (GW) of anticipated renewable energy generating capacity across multiple states.
1 Verizon’s GHG emissions are reported in CO₂e and are substantially composed of CO₂.
2 Approved by the Science Based Targets initiative (SBTi). For the purposes of evaluating progress against this target, we calculate market-based scope 2 emissions, which account for our use of energy attribute certificates. A majority of such certificates were obtained through renewable energy purchase agreements (REPAs). In certain instances, we swapped RECs generated by the REPA projects (project RECs) for an equal number of other RECs (non-project RECs) or accepted non-project RECs in lieu of project RECs pursuant to the REPAs.
3 Scope 3 emissions are also independently assured. Relevant categories included are purchased goods and services, capital goods, fuel- and energy-related activities (not included in scopes 1 or 2), upstream transportation and distribution, waste generated in operations, business travel, employee commuting, downstream transportation and distribution, use of sold products and end-of-life treatment of sold products.
4 Progress against these targets is calculated based on the total renewable electricity generated on-site or obtained in the form of energy attribute certificates divided by the total electricity consumed. A majority of these energy attribute certificates were obtained through REPAs. In certain instances, we swapped RECs generated by the REPA projects (project RECs) for an equal number of other RECs (non-project RECs) or accepted non-project RECs in lieu of project RECs pursuant to the REPAs.
5 In 2023, Verizon made adjustments in the calculation of the 2019 scope 3 baseline to reflect the following subsequent developments: a) the acquisition of TracFone Wireless, Inc. in November 2021, b) the application of the environmentally-extended input-output (EEIO) emissions factors developed by The Carbon Trust to relevant categories and c) the calculation of well-to-tank emissions to relevant categories in alignment with the 2023 calculation methodology. These updates resulted in an increase of ~12% in the scope 3 base-year emissions from 16,954,198 MT CO₂e to 18,979,748 MT CO₂e. The impact of the acquisition of TracFone Wireless, Inc. on Verizon’s base-year scopes 1 and 2 emissions was determined to be de minimis and therefore the 2019 scopes 1 and 2 base year values have not been updated.