Verizon, other companies, sign up for Amazon and Global Optimism's 'Climate Pledge'

Verizon, Infosys and Reckitt Benckiser became the first global companies to sign up for Amazon's Climate Pledge that was first announced in September.

Amazon and Global Optimism co-founded The Climate Pledge to meet the goals of the Paris Agreement on climate change 10 years ahead of schedule. The Paris Agreement has targeted 2050 while the Climate Pledge has set a goal of being carbon neutral by 2040.

"Climate change is a global challenge that impacts everyone, and that is why we considered it vital to join The Climate Pledge,” Verizon CEO and Chairman said Hans Vestberg, in a statement. “Leaving future generations with a cleaner world is core to our values as a responsible business."

Early last year, Verizon issued $1 billion in green bonds, and said it planned to use the proceeds to fund various sustainability initiatives including renewable energy, green buildings, energy efficiency, and sustainable water management. Verizon anticipated that a majority of the funds would be allocated within three years.

With the green bond proceeds, Verizon is making investments in 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.

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