Verizon Communications is the world leader in delivering innovation in communications, mobility, information and entertainment. The company provides superior broadband, video and other wireless and wireline services to consumers, businesses, governments and wholesale customers across the globe. Verizon’s most exciting growth opportunities occur where business and social interests intersect.
Verizon believes there are tremendous opportunities to grow its business by applying its innovative technologies to help solve important social issues. Creating powerful answers to societal challenges in energy management, healthcare and education is what Verizon calls “Shared Success” — leveraging the power of the company’s networks, technology and people to create long-term shareowner value by addressing the needs of the customers and communities it serves.
Through its Shared Success strategy, Verizon: identifies and accelerates deployment of technology solutions that create the greatest shared value resulting in increased revenue and quantifiable social impact; and uses innovative philanthropy to accelerate the deployment of its technology into underserved communities to become an incubator of social change.
Entering New Markets: The social challenge — improving energy efficiency, managing chronic disease or improving student achievement in STEM (science, technology, engineering and math) — creates the market opportunity. The challenge informs Verizon’s product-development process and helps the company to identify additional market and revenue opportunities.
An Innovative Approach to Philanthropy: In parallel, Verizon fundamentally changed its Foundation’s philanthropic strategy to align with its business’ entry into new energy management, healthcare and education markets. Through a focused model that includes grants and in-kind giving of its technology, as well as partnerships with leading nonprofit organizations, the Verizon Foundation aims to become an incubator for new social solutions to demonstrate the efficacy of Verizon products in real-world settings while accelerating deployment of our technology to underserved communities. The Foundation has also developed a robust set of metrics that measure the ability of Verizon’s products and services to create shared value for the philanthropic partners in the communities the company serves.
Sustainability: Verizon has reported on its energy usage and efficiency for more than a decade, and continues to make progress toward a long-term goal of reducing its carbon intensity by 50 percent over its 2009 baseline. In addition, by 2015, 40 percent of Verizon’s supplier spending will be with firms that measure and set targets to reduce their carbon emissions.