- Diego Scotti, executive vice president and chief marketing officer for Verizon, said that the company including socially responsible goals in its business strategy is an important distinction. It means the company is encompassing stakeholder capitalism in its business model.
- Scotti agreed that more brands are moving toward stakeholder capitalism, the belief that companies should be accountable to not only their shareholders, but to their workers and communities in which they do business.
- Other companies like Microsoft, Amazon, and Unilever have recently shared pledges to become carbon neutral (or carbon negative) in the coming years.
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Verizon, one of the country's largest telecommunications providers, announced Tuesday it is launching a "responsible business plan" with the aim of achieving a range of social and environmental goals by 2030 and 2035.
In the plan, called Citizen Verizon, the company pledges to be completely carbon neutral (absorb as much greenhouse gasses as it produces) by 2035. The company plans to reduce emissions, deploy renewable energy, and purchase carbon offsets (an offset is a project such as running a wind farm that reduces carbon emissions to compensate for company emissions).