Sustainability LIVE London – Verizon Sustainable Innovation

November 19, 2024

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James Gowen, Senior Vice President of Global Supply Chain and Sourcing at Verizon highlights Verizon's sustainability vision at Sustainability LIVE London

Sustainability and innovation are inseparable in today's corporate landscape.

At Sustainability LIVE London Global Summit, James Gowen, Senior Vice President of Global Supply Chain and Sourcing at Verizon, delivered an enlightening presentation on how the telecom giant integrates sustainability into its operations, achieving both environmental and business goals.

Verizon’s approach to sustainability

Opening his session, James introduces Verizon, emphasising the scale and complexity of its global operations. With more than 100 million customers, a market capitalisation of US$17bn and infrastructure spanning more than 100 countries, Verizon's commitment to sustainability carries substantial influence.

He highlights Verizon’s strategic decision in 2009 to merge its sustainability and supply chain functions. This integration, he notes, has proved critical in addressing interconnected challenges such as energy efficiency, climate resilience, and supply chain disruptions.

“We recognised early on that energy would be our opportunity,” James says, underscoring Verizon’s foresight in aligning sustainability with operational priorities.

James Gowen, Senior Vice President of Global Supply Chain and Sourcing at Verizon

Pioneering green financing and renewable energy

A standout component of Verizon’s sustainability strategy is its utilisation of green bonds. In 2019, Verizon issued its first US$1bn green bond, a milestone that has since expanded to six bonds, totalling US$6bn. These bonds have enabled investments in renewable energy, infrastructure upgrades, and supply chain resilience.

Verizon has contracted over 3.6GW of renewable energy, deployed across on-site, near-load, and off-site locations.

“Green financing gave us the ability to create resiliency in the supply chain while embedding renewable energy into our day-to-day operations,” James explains.

He also discusses the importance of leveraging connected technologies such as IoT, AI and machine learning to optimise energy usage and monitor operational emissions.

Verizon’s innovations extend to consumer devices, with significant advancements in the circular economy.

Millions of returned devices are refurbished, resold, or repurposed annually, a process James describes as "a game changer for sustainability in the device world."

Tackling challenges in the tech sector

James addresses the challenges of balancing growth with sustainability, particularly in the tech sector. He cites the rising energy demands of data centres due to AI-driven technologies as a pressing issue, alongside the operational and environmental impacts of climate-related disasters.

“The tech sector faces significant challenges in maintaining resiliency amid natural disasters and supply chain vulnerabilities,” he notes.

Verizon’s commitment to Scope 1 and Scope 2 emissions reduction is robust, with a net-zero target set for 2035. However, James acknowledges the complexities of managing Scope 3 emissions, which involve thousands of suppliers worldwide.

Transparency and accountability are essential, he says, as Verizon prepares for stringent reporting requirements by 2026.

James Gowen, Senior Vice President of Global Supply Chain and Sourcing at Verizon

Governance and supplier collaboration

In response to audience questions, James elaborates on Verizon’s governance model.

Sustainability commitments are embedded in contracts, with dedicated governance structures ensuring transparency and accountability across the supply chain. He also highlights the company’s focus on working with diverse suppliers, strengthening both supply chain resilience and community impact.

When asked about balancing business growth with sustainability, James acknowledges the dual pressures of technological advancement and climate responsibility. He points to the importance of proactive planning, especially in navigating the global semiconductor shortage and managing resource-intensive manufacturing processes.

Closing his presentation, James reaffirms Verizon’s commitment to running the greenest networks and enabling customers to lead more sustainable lives.

He encourages industry professionals to maintain open communication and collaboration, underscoring the shared responsibility in advancing sustainability goals.

With a blend of innovative solutions, forward-thinking governance, and an unwavering commitment to transparency, Verizon’s journey exemplifies how sustainability can be both a strategic priority and a driver of innovation.

James Gowen, Senior Vice President of Global Supply Chain and Sourcing at Verizon