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1、Verizon ESG Report 2023 Verizon 2023 ESG ReportAbout this report This report details our ESG performance and contains non-financial disclosures covering the period from January 1,2023,through December 31,2023,unless otherwise stated.The inclusion of information contained in this report should not be

2、 construed as a characterization of the materiality or financial impact of that information.Our financial disclosures for this period can be found in our 2023 Annual Report on Form 10-K.This report covers all of Verizons operations included in the 2023 financial statements,unless otherwise stated.On

3、 November 23,2021,we completed the acquisition of TracFone Wireless,Inc.(TracFone).The reported metrics related to greenhouse gas emissions,on-site renewable energy,fleet fuel,water,waste and carbon abatement do not include TracFone results.Where relevant,data measurement techniques,the bases of cal

4、culations and changes in the basis for reporting or reclassifications of previously reported data are included as footnotes.Note on non-financial reporting Non-financial information is subject to measurement uncertainties resulting from limitations inherent in the nature of,and the methods used for

5、determining,such data.Some of our disclosures in this report are based on assumptions due to these inherent measurement uncertainties.The selection of different but acceptable measurement techniques can result in materially different measurements.The precision of different measurement techniques may

6、 also vary.Data assurance Annually,Verizon obtains independent assurance of our emissions profile,as well as other select ESG indicators and analyses.Read the assurance reports for more information.For information that is not specifically identified as being independently assured,Verizon relies on t

7、he application of 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

8、in our ESG information governance and control frameworks to validate such information.Forward-looking statements Given the inherent uncertainty in predicting and modeling future conditions,caution should be exercised when interpreting the information provided.In this report,we have made forward-look

9、ing statements,including statements regarding our ESG goals,targets,commitments and other business objectives.These statements are based on our estimates and assumptions and are subject to risks and uncertainties.Forward-looking statements include information about our possible or assumed future res

10、ults of operations and include statements using words such as“aims,”“anticipates,”“believes,”“estimates,”“expects,”“forecasts,”“may,”“plans,”“strategy,”“target,”“goal”or similar terms.For those statements,we claim the protection of the safe harbor for forward-looking statements contained in the Priv

11、ate Securities Litigation Reform Act of 1995.We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements,except as required by law.Given these risks and uncertainties,readers are cautioned not to place undue reliance on such forward-lookin

12、g statements.For a list of important factors that could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements,refer to Verizons Annual Report on Form 10-K.2 Verizon 2023 ESG ReportTable of contents Approach 4 Message from our

13、Chairman and CEO 5 Our ESG strategy 6 ESG governance 8 ESG prioritization assessment 10 V Teamers 12 Recruiting talent 13 Competitive compensation and benefits 14 Open,welcome and safe work environment 15 Upskilling and reskilling 16 Diversity,equity and inclusion 17 Workforce diversity profiles 19

14、Employee engagement 25 Labor relations 26 Operational integrity 27 Business ethics 28 Our approach to human rights 31 Supply chain 32 Digital responsibility 35 Environment 40 Climate goals 41 TCFD summary 42 Verizons emissions profile 43 Carbon reduction strategy 44 Reducing our environmental impact

15、s 47 Helping customers reduce their emissions 49 Network resilience 50 Community 51 Citizen Verizon goals 52 Digital equity and inclusion 53 Climate protection 55 Human prosperity 56 Community engagement and support 58 Appendix 59 SASB Standards index 60 GRI index 66 UN SDG-aligned goals and progres

16、s 70 Endnotes 71 3 ApproachV TeamersOperational integrityEnvironmentCommunityAppendixApproach In this section:Message from our Chairman and CEO 5 Our ESG strategy 6 Key 2023 initiatives and results 6 Four pillars of ESG 7 ESG governance 8 Board oversight 8 Management councils and committees 9 Stakeh

17、older engagement 9 Reporting 9 ESG prioritization assessment 10 Assessment process 10 Assessment results 10 Verizon 2023 ESG Report4 ApproachV TeamersOperational integrityEnvironmentCommunityAppendixVerizon 2023 ESG ReportMessage from our Chairman and CEO At Verizon,running our business responsibly

18、is the foundation of our strategy,driving long-term financial success by building a more sustainable future for our shareholders,customers,employees and society.Operating as a responsible business is essential to earning our customers trust and building a world-class brand.By championing digital res

19、ponsibility and inclusion,promoting diversity,mitigating climate risk and creating meaningful work for our employees,we are forging a purpose-driven and resilient business,with long-term growth and strong financial stability.Citizen Verizon,our company-wide responsible business plan,is an investment

20、 in the communities we serve that helps our customers today and builds our customer base for tomorrow.We believe that Verizon and society benefit when everyone can meaningfully participate in the digital economy and have set ambitious goals to spur economic advancement in the communities where we li

21、ve and work,including a commitment to provide 10 million youths with digital skills training by 2030.I am proud to share that,through our transformative Verizon Innovative Learning initiative,we have provided over 7 million students nationwide with digital tools and resources so far.We know that res

22、ponsible business is good business,and our approach to climate considerations is tied to,and embedded in,our business strategy and operations.Our green bond program allows us to finance our renewable energy program on terms that are often less expensive than our typical bonds.Since we are a major co

23、nsumer of renewables,our moves here also encourage the greening of the electric grid and the development of a renewable energy economy that will serve our needs,along with societys.In support of this effort,we have a target to source 100%of the energy we use in our networks from renewables by 2030.O

24、f course,none of these accomplishments would be possible without the tireless efforts of our V Team.Delivering on Verizons strategy takes more than the best technology;it takes the best people.Providing our V Teamers with the skills to execute on our business priorities,offering opportunities for ca

25、reer advancement and ensuring a collaborative and inclusive work environment gives us a competitive edge now and into the future.We believe integrity is at the core of who we are.Verizon has dedicated cross-functional teams to execute responsible business principles in our core operations,from our s

26、upply chain to product development to our stewardship of customer information.These teams identify and manage the evolving risks and opportunities presented by our dynamic operating environment,including in technology such as artificial intelligence(AI).In 2023,we released a set of Responsible AI Pr

27、inciples to guide our enterprise-wide efforts to leverage new AI technologies in ways that positively impact our stakeholders and establish Verizon as a trusted brand and partner with respect to AI.The ways in which we care for our customers,communities,environment and employees define our company.I

28、 hope you share my excitement about the progress we made last year and the many opportunities ahead to deliver meaningful value to all our stakeholders for years to come.Hans Vestberg Chairman and Chief Executive Officer “The ways in which we care for our customers,communities,environment and employ

29、ees define our company.”5 ApproachV TeamersOperational integrityEnvironmentCommunityAppendixVerizon 2023 ESG ReportOur ESG strategy At Verizon,our world-class networks are at the center of our business strategy to drive innovation and growth.We are building the interconnected future and creating net

30、works to move the world forward for everyone.As we execute on our strategy,we consider how our business can create long-term,measurable value for a broad set of stakeholdersour shareholders,customers,employees and society.Key 2023 initiatives and results V Teamers 100%pay equity in salary for women

31、and men globally and with respect to race/ethnicity in the U.S.$173.8 million invested in learning and development initiatives for our employees 60.3%of U.S.-based workforce composed of women and minorities$2.6 billion invested in healthcare benefits and services Operational integrity 728 key suppli

32、ers assessed through EcoVadis since 2013$54.3 billion spent with diverse suppliers over the past 10 years 100%of employees trained on our Code of Conduct 15+years of publishing our Data Breach Investigations Report Environment 23.3%reduction in scopes 1 and 2 emissions and 15.1%reduction in scope 3

33、emissions(2019 2022)3.6 GW of anticipated renewable energy under contract as of February 2024$6 billion in green bonds issued as of February 2024 20+million trees planted since 2009 Community 2.1+million hours volunteered since 20197+million youths provided with digital skills training since 20121 4

34、5,000+individuals prepared for jobs of the future since 2019 273,000+small businesses provided with resources to thrive in the digital economy since 2021 Note:As of year-end 2023 unless otherwise noted.6 Four pillars of ESG Our ESG strategy is built upon four pillars:governance,integration,engagemen

35、t and reporting.Each of these pillars dynamically supports the others,providing us with a foundation for informed decision-making,transparent communication and effective governance over and accountability for Verizons most impactful ESG risks and opportunities.Governance We deliver on our corporate

36、purpose and our firm commitment to accountability through robust Board oversight and management governance structures.Integration We leverage dedicated expertise as well as generally accepted ESG frameworks to build governance structures that inform business decision-making,embedding ESG considerati

37、ons into the DNA of our company.Reporting We publish decision-useful information for investors and other stakeholders,leveraging insights from our integration and engagement efforts.Engagement We aim to build trust through transparency.We engage with a broad range of external stakeholders to obtain

38、a holistic view of our ESG impacts and strategy.ApproachV TeamersOperational integrityEnvironmentCommunityAppendixVerizon 2023 ESG Report7 ApproachV TeamersOperational integrityEnvironmentCommunityAppendix Verizon 2023 ESG ReportESG governance We implement effective governance over and accountabilit

39、y for our key ESG issues through Board and management oversight,stakeholder engagement and transparent reporting.Board oversight Our Board of Directors oversees Verizons ESG risks and opportunities with the assistance of four standing committees composed solely of independent Directors.An independen

40、t Lead Director shares governance responsibilities with the Chairman and CEO and facilitates forthright communication and independent oversight of managements performance.We are committed to the highest standards of corporate governance.See how our policies and practices align with the Investor Stew

41、ardship Groups corporate governance principles for U.S.listed companies here.Board diversity Good governance starts with independent and engaged directors who respect differing viewpoints.In its ongoing refreshment process,our Board seeks a diverse group of candidates who possess the requisite judgm

42、ent,background,skill,expertise and time,as well as diversity with respect to race,ethnicity and gender,to strengthen and increase the overall diversity,breadth of skills and qualifications of the Board.As of December 31,2023,our 12-member Board included four women and five Directors who self-identif

43、y as racially or ethnically diverse.ESG strategy and risk oversight Each Verizon Director brings to the boardroom skills or experience in one or more of our priority ESG issues.While the Corporate Governance and Policy Committee has primary responsibility for overseeing our ESG strategy,commitments,

44、stakeholder engagement and reporting,the full Board regularly addresses ESG issues during business operations reviews and strategy discussions.Each Board committee oversees the ESG risks and opportunities that fall under that committees purview,with each committee chair regularly updating our full B

45、oard on its ESG-related activities.ESG topics frequently included on committee agendas or addressed during management updates are listed in the table to the right.For more information on how our Board and committees oversee ESG risks and opportunities,see the“Oversight of ESG strategy and risks”sect

46、ion in our 2024 Proxy Statement.Board-level ESG oversight Audit Committee Business ethics Climate-related business risks Cybersecurity Data privacyCorporate Governance and Policy Committee ESG strategy,commitments,engagementand reporting Human rights Political activities and lobbying Public policy a

47、nd technology issues impactingcorporate reputation Social impact and community initiativesFinance Committee Capital allocation strategy Green finance strategy Renewable energy exposureHuman Resources Committee Diversity,equity and inclusion(DEI)andemployee engagement Employee health and safety ESG m

48、etrics in incentive compensation Talent acquisition,retention and development8 Verizon 2023 ESG ReportManagement councils and committees To gain a holistic perspective and appropriately assess risks and opportunities when making important decisions for the business,we have established a number of cr

49、oss-functional management councils composed of members of our executive leadership team.These councils meet regularly to address a wide range of matters that are critical to our companys success,including business and technology strategies,network and product development,customer experience and bran

50、d management,capital and expense allocation,emergency preparedness and responsible business initiatives.The Strategic Leadership and Responsible Business councils are instrumental to the integration of sustainability considerations into our overall strategy and business operations,overseeing the est

51、ablishment and execution of our climate-related and social impact goals.Our management councils operate using a year-round planning and execution process.This process unites strategy development,financial planning and budgeting,talent management and execution to make sure that each organization is c

52、oordinated as it implements Verizons strategy.Each organization tracks key performance measures in the execution of individual initiatives.These are compiled into one corporate-wide scorecard that includes key performance measures for our operational net zero goal,employee engagement and DEI initiat

53、ives.We also have cross-functional management committees,supported by dedicated teams of experts,which oversee our implementation of policies and programs governing accessibility,artificial intelligence(AI),business continuity,climate,cybersecurity,DEI,global supply chain management and privacy.Stak

54、eholder engagement We proactively engage with our investors,customers and other key stakeholders on Verizons ESG activities and priorities.These engagements may include participation,when requested and appropriate,from our independent Lead Director,the chair of the Audit Committee or other Directors

55、.We believe that these transparent and collaborative exchanges strengthen corporate accountability,improve decision-making and ultimately create long-term value.We regularly share what we learn with our Board and senior management.In 2023,the topics most frequently addressed during these engagements

56、 included scope 3 emissions,human capital management,data privacy and cybersecurity.We also seek to develop meaningful partnerships with external stakeholders to help ensure that Verizons policy positions are informed by the communities we serve.Our Consumer Advisory Board(CAB),a diverse group of st

57、akeholders that advises Verizon on a variety of consumer and policy issues,continued to meet throughout 2023.CAB members serve as an informal focus group to test out new policies,practices and products and offer fresh thinking and key consumer insights on discrete business projects,pilots and case s

58、tudies.Reporting Our ESG reporting is aligned with leading sustainability disclosure frameworks and informed by emerging ESG-related laws and regulations,our stakeholder engagement and the results of our ESG prioritization assessment.Our ESG reporting and policies,as well as a downloadable ESG data

59、table,can be found on our ESG Resources Hub.ESG Center of Excellence Our ESG Center of Excellence,composed of teams from Enterprise Risk Management,Legal and Accounting Policy,is implementing an expanded internal control framework for ESG information to facilitate our compliance with ESG-related law

60、s and regulations.Reports published on our ESG Resources Hub ESG reports TCFD reports SASB Standards index Political engagement reports Transparency reports Green bond impact reports Human rights due diligence statements Consolidated EEO-1 report Current assured emissions and energy data Downloadabl

61、e ESG data table9 ApproachV TeamersOperational integrityEnvironmentCommunityAppendix Verizon 2023 ESG ReportESG prioritization assessment We have been conducting periodic third-party assessments over the past 10 years to identify the ESG issues that are the most relevant and impactful to our busines

62、s and our four key stakeholdersour shareholders,customers,employees and society.We use the results of these assessments to guide our ESG strategy,focus our reporting and stakeholder engagement and prioritize our ESG integration efforts.Assessment process Develop baseline Assess internal inputs:Previ

63、ous ESGprioritization assessments Existing publicdisclosures Overall business strategyand Citizen VerizonAssess external inputs:Leading sustainabilityreporting frameworks Existing and proposedESG regulations Criteria assessed byESG raters Peer and industry-leading disclosuresSolicit feedback Intervi

64、ew:Internal leadership Institutional investors External experts andmulti-stakeholderorganizationsPrioritize issues Analyze results ofresearch and interviews Reference Verizonshuman rights saliencyassessment learnings Readjust baseline toreflect updatesImplement results Integrate results intobusiness

65、 strategyand operations Align ESG reportingand engagementAssessment results In 2023,we partnered with a third-party consultant to refresh our prioritization assessment.Our latest assessment was conducted with the understanding that operational integritynamely our robust business ethics,governance an

66、d human rights policies and programs is foundational to our ESG management strategy.We have categorized our assessment results into high-priority,priority and emerging issues,all of which we actively manage.Our high-priority issues align with our mission to create the networks that move the world fo

67、rward.In light of the current geopolitical environment,our stakeholders identified regulatory engagement and supply chain management as higher priority issues as compared to our 2021 assessment.Human capital management,including employee health and safety,labor practices and talent attraction and re

68、tention,remains a priority issue.Minimizing negative environmental impacts and creating digital opportunities for our communities also continue to be priority issues for us.Given the increased public attention on the development and use of AI,our stakeholders identified responsible AI as a newly eme

69、rging ESG issue for Verizon.Our assessment results and topic definitions are detailed on the following page.10 ApproachV TeamersOperational integrityEnvironmentCommunityAppendixApproachV TeamersOperational integrityEnvironmentCommunityAppendixVerizon 2023 ESG ReportHigh-priority issues Climate chang

70、e Managing climate-related risks and opportunities for our business and our customers.Cybersecurity and data privacy Employing strong policies and controls to manage cybersecurity risk and protect the privacy of customer,employee and business partner data.Providing a safe and secure online experienc

71、e.DEI Promoting equity and inclusion for our employees,business partners and communities by providing equal access and opportunity,free from bias.Network resilience(including disaster response)Maintaining reliable network connectivity through infrastructure investment,operational preparedness and ef

72、fective disaster response.Regulatory engagement Engaging with regulators and lawmakers on policy issues,including through lobbying and political contributions.Supply chain management Managing ESG risks throughout our supply chain,including human rights,labor and environmental issues.Priority issues

73、Digital inclusion Extending high-quality connectivity to underserved communities,making devices and connectivity available without significant cost restrictions and leveraging our resources to foster the skills necessary to thrive in the digital economy.Employee health and safety Managing workplace

74、safety incidents and caring for employee physical and mental health.Labor practices Complying with labor laws,upholding workers rights and managing the companys relationship with organized labor.Product end-of-life management(including e-waste)Reducing the end-of-life environmental impact of our pro

75、ducts and network equipment(including e-waste)by managing the reuse,recycling and disposal of products and component parts.Talent attraction and retention Strategically recruiting talent,supporting professional growth through skill-building and development opportunities and inspiring employees with

76、a collaborative and inclusive work environment.Emerging issues Responsible AI Deploying AI technologies to improve operational efficiency and enhance customer experience while identifying and mitigating potential risks,such as bias and privacy concerns.Note:Topics are presented in alphabetical order

77、 within respective categories.11 ApproachV TeamersOperational integrityEnvironmentCommunityAppendixV Teamers In this section:Recruiting talent 13 Strategic recruitment 13 Competitive compensation and benefits 14 Compensation 14 Leave policies 14 Family-friendly benefits 14 Health and wellness 14 Ope

78、n,welcome and safe work environment 15 Non-discrimination policy 15 Safety culture 15 Partner safety 15 Upskilling and reskilling 16 Promoting a culture of continuous learning 16 Supporting career growth and development 16 Diversity,equity and inclusion 17 Global DEI strategy 17 Pay equity 17 DEI in

79、centive compensation measure 17 Promoting inclusion 17 Capability building 18 Continuing the work 18 Workforce diversity profiles 19 Employee engagement 25 Annual employee survey process 25 Labor relations 26 12Verizon 2023 ESG Report ApproachV TeamersOperational integrityEnvironmentCommunityAppendi

80、xRecruiting talent Delivering on Verizons corporate purpose to create the networks that move the world forward takes more than the best technology;it takes the best people.Human capital strategy Verizons global network of over 106,000 employees is one of our most valuable investments.Our human capit

81、al strategy to build a workforce with the skills,potential and motivation to give the company a competitive edge now and into the future rests on three pillars:Attract and maintain a diverse workforce with the necessaryskills and talent to execute on our business priorities Develop our employees pot

82、ential by offering educationalopportunities that keep pace with changes happening acrossour industry Inspire our employees by providing meaningful work andopportunities for career advancement in a collaborative andinclusive environmentVerizons Board of Directors and its Human Resources Committee ove

83、rsee our human capital strategy to attract and develop talent,inspire employee engagement and create a diverse,equitable and inclusive workplace culture.Strategic recruitment Our approach to recruitment is grounded in our talent plan,which defines the talent we need across the business to support ho

84、w and where we want to grow.This extends to recruiting a diverse workforce through multiple channels,including robust strategies for campus and military hiring and nontraditional talent pipelines.We review our job postings to make sure they leverage inclusive language and do not impose degree or cer

85、tification requirements where they are not needed for the particular role.We conduct a consistent hiring process that considers all qualified candidates in a fair and equitable manner.Campus Through university partnerships,our campus program identifies emerging talent with critical skills aligned wi

86、th Verizons talent plan.We maintain competitive and robust internship and co-op skill accelerator programs that provide real-world experiences to students and serve as pipelines for potential new talent.Further,we are building partnerships with high school,college and professional organizations,such

87、 as the National Academy Foundation,to enhance the diversity of our pipelines.We engage year-round with Historically Black Colleges and Universities,Hispanic-Serving Institutions and Asian American and Native American Pacific Islander-Serving Institutions through executive sponsorship and brand amba

88、ssador programs.Military We have a dedicated military recruitment team to connect veterans,transitioning service members and military spouses with employment opportunities at Verizon.Our Skillbridge and Hiring our Heroes Fellowship programs provide opportunities for transitioning service members to

89、gain critical skills in areas such as cybersecurity,field operations and supply chain management.Diverse talent Verizon partners with many diversity-focused organizations to build our employer brand and recruit diverse talent,including AfroTech;Society of Women Engineers;National Society of Black En

90、gineers;Society of Hispanic Professional Engineers;Hispanic Alliance for Career Enhancement;Women in Cybersecurity;the Asian American Foundation and Human Rights Campaign.We post open positions on diversity-focused third-party platforms,such as GI Jobs,Girls in Tech,AARP and HBCUConnect,in addition

91、to traditional job sites.We also recruit from Verizons paid Thrive Apprenticeship program,which gives participants with diverse backgrounds and experiences the opportunity to develop professional and technical skills.13 Verizon 2023 ESG Report Verizon 2023 ESG ReportApproachV TeamersOperational inte

92、grityEnvironmentCommunityAppendixCompetitive compensation and benefits We strive to be an employer of choice by supporting our employees across our five wellness pillars:financial,physical,emotional,social and career.Unless otherwise noted,the following description of compensation and benefits gener

93、ally applies to U.S.-based employees other than union-represented employees,whose compensation and benefits are governed by the applicable collective bargaining agreements.Benefits for employees outside the U.S.vary by jurisdiction.Compensation Verizons comprehensive total rewards program includes c

94、ompetitive base pay,incentive pay and a robust 401(k)savings plan that matches 6%of eligible contributions.Beginning in 2024,the match is also available to employees who make payments toward their qualified student loans.Our global broad-based equity award program,Stock Together,provides a discretio

95、nary award of Verizon restricted stock units to our U.S.employees,including union-represented employees,and a discretionary cash bonus opportunity that tracks the value of Verizon stock units to our international employees.We pay overtime and wage premiums as required by law and in some additional i

96、nstances.We are a member of The Worker Financial Wellness Initiative and recognize the importance of helping our employees build financial literacy and resiliency.When a reduction in force is deemed necessary,we provide separation benefits to eligible employees to ease their career transitions,inclu

97、ding pay replacement based on the role and length of service with the company,the continuation of medical,dental and vision insurance under COBRA for the duration of the applicable severance period and outplacement services to assist with finding a new job.Leave policies Paid time off.Employees rece

98、ive eight paid company holidays,six paid personal days and,depending on years of service,three to six weeks of paid vacation.Verizon offers one week of paid unscheduled illness/absence time per year for full-time employees and a one-week equivalent for part-time employees to be used in the case of e

99、mployee illness,a family members illness or other unplanned event.We also offer up to five days of paid bereavement time.Military leave.When employees,including union-represented employees,are called up to active duty,our military leave program helps to bridge the gap between military pay and Verizo

100、n pay.Family leave.Verizon offers eligible employees up to eight weeks of parental leave,paid at 100%of base pay,to bond with a newborn or adopted(new to family)child,with eligibility beginning on their first day of employment.Between short-term disability and parental leave,mothers who give birth a

101、re eligible for up to 16 weeks of paid maternity leave with the preservation of benefits and the flexibility to take additional,unpaid time off.Unpaid leave.We also offer an unpaid leave program for up to 12 months,which includes six months of benefits protection.Family-friendly benefits Verizon emp

102、loyees receive an up to$15,000 per child adoption assistance benefit that also applies to surrogacy and guardianship.We offer fertility benefits through our medical insurance plans for employees,including union-represented employees,with a$75,000 lifetime maximum to ensure coverage of multiple cycle

103、s.Verizon offers a healthy pregnancy program through our medical third-party administrators for pre-and postpartum support and uses a third party to ship breast milk for business travel.We offer a dependent care spending account so employees can use pre-tax dollars to pay for qualified child care ex

104、penses.Employees are eligible for up to 80 hours of backup child care or elder care,either in-center or at-home,as well as a number of discounts on child care services.Employees also have access to special needs educational support,college coaching and up to 50 hours per year of tutoring support.Hea

105、lth and wellness Verizon provides high-quality comprehensive medical,dental,vision,life insurance and disability coverage to all of our U.S.-based employees.Our benefit plans cover same-gender and opposite-gender domestic partners.While the Affordable Care Act requires medical coverage for child dep

106、endents through age 26,Verizon also offers dental,vision and supplemental life insurance.When covered medical services are not available within a reasonable geographic distance from an employees home,our plans provide for the reimbursement of certain expenses related to travel to obtain the covered

107、service.In 2023,Verizon invested$2.6 billion to provide healthcare benefits and services to over 450,000 employees,eligible retirees and their dependents.Core to Verizons commitment to well-being is making sure our employees have the resources and support to care for their mental health.Our new part

108、nership with Spring Health connects employees to a continuum of free care through confidential and easily accessible services,such as live therapy and on-demand digital wellness exercises.The platform is available 24 hours a day,365 days a year to all U.S.employees.Employees can leverage six free th

109、erapy and six free coaching sessions per year,either virtually or in-person,before receiving referral assistance to other behavioral health services.Other free wellness resources available to U.S.employees include on-site flu shots and health indicator screenings,as well as online resources for well

110、ness goals such as tobacco cessation,increased physical activity and improved nutrition and sleep.14 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixOpen,welcome and safe work environment We have adopted and enforce policies to provide a workplace culture whe

111、re all V Teamers feel welcomed and safe.Non-discrimination policy Verizons policy is to provide equal employment opportunity to all persons.Verizon is committed to a workplace free from unlawful discrimination and harassment and does not tolerate discriminatory or harassing behavior of any kind.Our

112、zero-tolerance policy applies to any conduct that has the purpose or effect of creating an intimidating,hostile or offensive work environment.Our non-discrimination and anti-harassment commitment is reinforced through a variety of employee training programs,including our annual all-employee Code of

113、Conduct training and training for new hires and new people leaders.Any employee who believes they have been the subject of,or is aware of,discrimination,harassment or retaliation can report this to their supervisor,local human resources department or Verizon Ethics at or .Complaints are handled in a

114、 confidential manner,and information is shared only on a need-toknow basis.All complaints are investigated,and misconduct,including any acts of discrimination,harassment or retaliation,is addressed with appropriate corrective action,up to and including termination of employment.In addition,Verizon p

115、rohibits any form of retaliation against employees who file these types of complaints,and committing an act of retaliation alone can be cause for appropriate corrective action,including termination of employment.Verizon Ethics is available 24 hours a day,seven days a week,and can accommodate calls i

116、n numerous languages and anonymous reports.Safety culture We are dedicated to maintaining a safe workplace.We regularly update our health and safety standards,programs and training materials to educate employees about best practices and working safely.Safety training for employees who work in the fi

117、eld includes working at heights,driving defensively,establishing work zone protection and safeguarding against electricity.General workplace safety topics include ergonomics and slip,trip and fall hazards.Verizons culture of safety begins with our be SAFE(Smart,Aware,Focused and Equipped)values.Thes

118、e values emphasize keeping V Teamers safe at work,at home and on the road.Our Lifesaving Principles address activities with the highest safety risks to prevent serious incidents and fatalities and remind employees to take personal responsibility for their safety and the safety of those around them.E

119、mployees conduct pre-job hazard surveys to identify and mitigate potential hazards before proceeding.In 2023,our occupational injuries and illnesses rate was 1.1 per 100 employees,well below the Bureau of Labor Statistics telecommunications industry average of 1.9.Partner safety Verizons policy to m

120、aintain a safe workplace and environmentally responsible work practices extends to the suppliers that perform services and supply products to us.Our Supplier Code of Conduct contains safety-specific requirements including compliance with applicable laws,regulations and industry codes;adherence to Ve

121、rizons Environmental,Health and Safety Policy and the adoption of procedures and systems to prevent incidents and track and implement corrective actions for safety violations.Verizon maintains an incident reporting portal where suppliers and their subcontractors are required to report any incidents,

122、injuries,environmental releases,property damage,regulatory inspections,near misses and hazards working on Verizon projects or premises.The environment,health and safety performance of each supplier is monitored to ensure that corrective actions are implemented.We engage Avetta,a third-party assessme

123、nt firm,to screen our suppliers safety and environmental performance.Avetta reviews the suppliers environmental,health and safety program documents and metrics and compares them against industry benchmarks and Verizon standards.15 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironm

124、entCommunityAppendixUpskilling and reskilling Creating tomorrows networks doesnt happen with yesterdays skills.V Teamers at all stages of their careers have access to world-class resources to maximize their potential and remain competitive.We support the V Teams professional growth through continuou

125、s skill-building and development that keeps pace with the dynamic changes happening across our business.We measure the effectiveness of learning solutions through participant evaluations,skill ratings and performance changes.Promoting a culture of continuous learning Learning Portal Embracing a lear

126、ning mindset is a core part of our culture.All full-and part-time employees have access to curated development opportunities on Verizons Learning Portal,which includes content from Degreed,LinkedIn Learning and Udemy.The portal provides a platform for the creation of custom learning pathways to buil

127、d technical and leadership skills,understand business functions and pursue personal development.In 2023,the portal provided upskilling content aligned with the top skills needed for nearly every role at Verizon.Upskilling content is available in a self-serve format,allowing employees to learn at the

128、ir own pace.Verizon conducts formal mid-year and year-end performance reviews for all full-and part-time management employees.As part of the annual review process,managers have the option of developing individual training plans through the Learning Portal.Technical upskilling We upskill employees ac

129、ross the enterprise to keep pace with our evolving business transformation.We provide extensive training across sales and customer service,as well as emerging technical areas,such as data science,5G technology and AI.Our 5G Resource Center provides an additional array of resources to help V Teamers

130、gain the knowledge they need to succeed.Supporting career growth and development Leadership training We invest in a range of formal and informal development opportunities to strengthen the leadership capabilities of the V Team.As employees grow in their careers and take on new leadership roles,we su

131、pport their success through a robust leadership development portfolio,including targeted curricula for new people leaders,mid-level leaders and executives.Leadership training is available to all full-and part-time employees.Get Certified Verizons Get Certified program provides access to industry-lea

132、ding certification preparation courses,guidance and funding to support the V Teams professional development.Tuition assistance Verizon employees are provided with up to$8,000 annually through our Global Tuition Assistance Program to fund higher education studies from a wide range of accredited schoo

133、ls.Employees can access education advising services at no charge for guidance on school selection and undergraduate degree programs.In 2023,over 4,700 employees took advantage of our tuition assistance program.Verizon invested over$20 million in this program in 2023.Talent GPS Our Talent GPS initiat

134、ive supports overall career growth and development at Verizon.All employees and people leaders have access to a transparent job library that includes insights into the types of roles available across all job families and departments,as well as top skills and key competencies for each role.Talent GPS

135、 also includes a suite of resources for employees and managers to support individual career and team development planning.Learning and development investment In 2023,we invested$173.8 million in learning and development initiatives for our employees.16 Verizon 2023 ESG ReportApproachV TeamersOperati

136、onal integrityEnvironmentCommunityAppendixDiversity,equity and inclusion We believe that Verizon is a stronger and more competitive company when we recognize and champion each persons unique strengths and talents.We are committed to sustaining a culture of diversity,equity and inclusion(DEI)within o

137、ur company and our communities.Global DEI strategy Verizons approach to DEI is based on an integrated,shared responsibility framework.Our dedicated DEI team oversees a global strategy to align DEI to business goals,drive accountability and implement programs and practices to promote an inclusive cul

138、ture.As stated in our Credo and Code of Conduct,the entire V Team is expected to contribute to an open and respectful workplace.Our DEI strategy focuses on four key areas where we can make the greatest impact:Workforce.Attract,develop and inspire diverse talent Culture.Foster an inclusive and engagi

139、ng culture that creates a best-in-class customer experience Capability.Accelerate DEI as an organizational capability to create a competitive advantage Society.Make a meaningful global and societal impact that further promotes and differentiates our brand Pay equity In 2023,across all of Verizon,we

140、had 100%pay equity in salary for women and men.In the U.S.,we also had 100%pay equity in salary with respect to race/ethnicity.Consistent with our Commitment to Pay Equity,we remain committed to:Identifying and promoting best practices in compensation,hiring,promotion and career development Making h

141、iring,promotion and compensation decisions that promote pay equity In support of this commitment,Verizon has removed from our employment applications all questions seeking current or past salary information.DEI incentive compensation measure Verizon has a longstanding practice of including a perform

142、ance measure related to workforce diversity in our short-term incentive plan.Our current plan incorporates a dedicated ESG component that includes measures related to workforce and supplier diversity.Promoting inclusion Employee resource groups We support 10 global employee resource groups(ERGs)that

143、 promote inclusion throughout Verizon by elevating diverse voices,fostering professional development and raising cultural awareness.Our ERGs are employee-led and company-funded.To ensure support for our ERGs at the highest level,each ERG is matched with a C-suite leader who serves as an advocate for

144、 the group both internally and externally.The executive champions support their ERGs,promoting the groups mission,mentoring its leaders and driving engagement within the company and with our customers and communities.We regularly highlight our ERGs and their impact on Verizon and our communities thr

145、ough company webcasts and service excellence awards.Disability inclusion Consistent with our corporate policy statement on accessibility and disability inclusion,Verizon strives to advance disability inclusion in every aspect of our business.Under the guidance of our cross-functional Accessibility L

146、eadership team,our accessibility program fosters a culture where all employees are empowered and equipped to thrive.In addition to hosting our annual Accessibility Summit,Verizon celebrates Global Accessibility Awareness Day and Disability Pride Month.Our Disability Advisory Board,an external board

147、of trusted leaders from disability organizations,met with senior Verizon leaders throughout 2023 to support our accessibility journey by providing expert advice on key strategic relationships and initiatives.17 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendix

148、LGBTQ+inclusion Verizon continues to celebrate our LGBTQ+community.Our LGBTQ+ERG,Prism,is one of our longest-standing groups and continues to develop programming and trainings that drive inclusivity and support LGBTQ+employee leadership development.In 2023,Prism sponsored a series of deep dives into

149、 health and wellness benefits of particular relevance to the LGBTQ+community,including family planning,mental health and gender-affirming care.In partnership with the DEI team,Prism leads enterprise-wide activities that expand awareness around Global Pride Month,International Trans Day of Visibility

150、,Ally Week and World AIDS Day.Supporting our veterans We are a Chairmans Circle Member of the U.S.Chamber of Commerce Foundations Veteran Employment and Military Spouse Employment Advisory Councils and a sponsor of the Hiring Our Heroes Corporate Fellowship program.Through member spotlights,awarenes

151、s campaigns and ongoing events,VALOR,our veteran-focused ERG,drives veteran recognition throughout the enterprise.Embracing identity In 2023,Verizon expanded voluntary options for employees to self-identify race,ethnicity,sexual orientation,gender identity and pronouns in order to better understand

152、our workforce representation and to continue to grow meaningful programs and services for the V Team.Capability building Learning pathways We offer learning pathways that cement our workplace as one that values diversity,equity and inclusion.DEI learning plans on topics such as unconscious bias and

153、allyship are made available to all employees.We also include DEI content in many leadership development programs.Programs and partnerships We continue to invest in growth opportunities,including the examples below,for the V Team and members of our communities.WOW Connect,an expansion of our previous

154、 Women of the World program,offers opportunities for personal and professional skill building and community connection through interactive virtual workshops and on-demand resources.Break Through Tech offers curriculum,career advising and community building with a mission to increase the number of wo

155、men graduating with degrees in computer science and related tech disciplines.Verizon partners on a number of initiatives,including the Sprinternship program,which facilitates paid internships for first and second year college students during their winter breaks.Adfellows,a nine-month paid fellowship

156、 designed to promote diversity in the marketing industry,provides participants with the opportunity to gain both company and agency experience.In 2023,24 Adfellows graduated from the program,and 96%of the cohort obtained full-time roles in marketing or advertising after graduation.Since 2017,158 Adf

157、ellows have graduated from the program.Continuing the work We have made significant investments over many years in workforce diversity,a workplace culture of belonging and community outreach.To guide our strategy,we engaged a respected third party to undertake an audit of our DEI practices both inte

158、rnally within Verizon and externally in the communities we serve.The process was overseen by our Board of Directors and informed by input from employees responsible for leading Verizons DEI efforts,representatives from our ERGs and leaders from the civil and human rights communities.In 2023,we relea

159、sed the results of the audit.We remain steadfast in our commitment to fostering a culture of diversity,equity and inclusion both within Verizon and in the communities we serve.We are continuing to integrate the learnings from this audit into our ongoing DEI efforts.18 Verizon 2023 ESG ReportApproach

160、V TeamersOperational integrityEnvironmentCommunityAppendixWorkforce diversity profiles We publish our consolidated EEO-1 reports and also provide detailed charts covering employee gender and race/ethnicity broken down by Verizons major business units and employment position below.Across the enterpri

161、se,associates through Band 8 are hourly employees,Band 7 is a mix of hourly and salaried employees and the remaining bands are salaried employees.Percentages may not add up to 100%due to rounding.Diversity across the V Team Global gender 31.7%Female 68.0%Male 0.3%Unknown/undeclared Global gender by

162、position Female MaleUnknown/undeclared Associates 23.2%76.7%0.0%Band 9 30.8%68.6%0.6%Band 8 51.6%47.6%0.8%Band 7 32.2%67.4%0.4%Band 6 31.6%68.3%0.1%Band 5(Director)35.2%64.8%0.0%Bands 4,3,2 and 1(Senior management)36.4%63.6%0.0%U.S.race/ethnicity by position American Indian/Alaskan Native Asian Blac

163、k Hispanic Native Hawaiian/Pacific Islander Two or more races Unknown/undeclared White Associates 0.4%1.9%23.6%7.4%0.2%1.4%3.3%61.9%Band 9 0.6%3.6%21.1%28.5%0.5%4.9%2.3%38.6%Band 8 0.7%3.5%32.8%16.9%0.3%3.6%2.5%39.6%Band 7 0.4%9.9%16.7%14.5%0.4%2.7%2.8%52.6%Band 6 0.3%19.5%8.8%9.1%0.3%2.1%3.1%56.9%B

164、and 5(Director)0.4%15.4%7.7%6.4%0.0%1.8%2.6%65.7%Bands 4,3,2 and 1(Senior management)0.4%14.4%9.2%6.6%0.4%1.1%1.1%66.8%U.S.race/ethnicity 0.4%American Indian/Alaskan Native 8.7%Asian 18.5%Black 13.2%Hispanic 0.3%Native Hawaiian/Pacific Islander 2.5%Two or more races 2.9%Unknown/undeclared 53.4%White

165、 19 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixDiversity across the Verizon Business Group Global gender 36.5%Female 63.1%Male 0.4%Unknown/undeclared Global gender by position Female Male Unknown/undeclared Associates 74.9%25.0%0.1%Band 9 28.6%71.4%0.0%B

166、and 8 50.1%48.5%1.3%Band 7 32.9%66.6%0.5%Band 6 30.6%69.2%0.2%Band 5(Director)31.6%68.4%0.0%Bands 4,3,2 and 1(Senior management)30.0%70.0%0.0%U.S.race/ethnicity by position American Indian/Alaskan Native Asian Black Hispanic Native Hawaiian/Pacific Islander Two or more races Unknown/undeclared White

167、 Associates 0.6%1.1%35.3%7.4%0.0%0.9%4.8%49.9%Band 9 0.0%0.0%42.9%28.6%0.0%14.3%0.0%14.3%Band 8 0.2%4.0%31.4%15.1%0.5%3.0%3.2%42.6%Band 7 0.4%6.8%17.4%16.2%0.6%3.4%2.6%52.5%Band 6 0.5%10.2%8.3%7.9%0.4%2.1%2.9%67.6%Band 5(Director)0.7%13.0%7.4%6.7%0.0%1.5%3.0%67.8%Bands 4,3,2 and 1(Senior management)

168、0.0%16.7%2.1%8.3%2.1%2.1%0.0%68.8%U.S.race/ethnicity 0.4%American Indian/Alaskan Native 7.6%Asian 16.4%Black 11.9%Hispanic 0.4%Native Hawaiian/Pacific Islander 2.6%Two or more races 3.0%Unknown/undeclared 57.6%White 20 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunity

169、AppendixDiversity across the Verizon Consumer Group Global gender 42.0%Female 57.9%Male 0.1%Unknown/undeclared Global gender by position Female Male Unknown/undeclared Associates 69.4%30.6%0.0%Band 9 30.8%69.1%0.2%Band 8 61.3%38.7%0.1%Band 7 40.9%59.0%0.1%Band 6 41.8%58.2%0.0%Band 5(Director)33.8%66

170、.2%0.0%Bands 4,3,2 and 1(Senior management)40.0%60.0%0.0%U.S.race/ethnicity by position American Indian/Alaskan Native Asian Black Hispanic Native Hawaiian/Pacific Islander Two or more races Unknown/undeclared White Associates 0.5%3.0%37.9%13.7%0.1%2.2%3.7%38.8%Band 9 0.6%3.5%21.0%28.5%0.5%4.9%2.3%3

171、8.7%Band 8 0.6%1.5%38.3%19.1%0.3%4.3%2.3%33.7%Band 7 0.4%4.4%22.2%23.1%0.4%3.6%2.1%43.9%Band 6 0.3%10.9%14.2%15.6%0.4%2.8%2.3%53.4%Band 5(Director)0.3%8.9%7.9%11.3%0.0%1.7%4.1%65.6%Bands 4,3,2 and 1(Senior management)2.0%4.0%14.0%14.0%0.0%2.0%0.0%64.0%U.S.race/ethnicity 0.5%American Indian/Alaskan N

172、ative 4.6%Asian 23.9%Black 22.7%Hispanic 0.4%Native Hawaiian/Pacific Islander 4.0%Two or more races 2.4%Unknown/undeclared 41.6%White 21 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixDiversity across the Verizon Global Network and Technology Group Global ge

173、nder 16.9%Female 83.0%Male 0.1%Unknown/undeclared Global gender by position Female Male Unknown/undeclared Associates 15.3%84.6%0.0%Band 9 0.0%0.0%0.0%Band 8 19.1%80.8%0.1%Band 7 18.6%81.1%0.3%Band 6 19.4%80.6%0.1%Band 5(Director)23.8%76.2%0.0%Bands 4,3,2 and 1(Senior management)27.0%73.0%0.0%U.S.ra

174、ce/ethnicity by position American Indian/Alaskan Native Asian Black Hispanic Native Hawaiian/Pacific Islander Two or more races Unknown/undeclared White Associates 0.4%1.8%21.6%6.8%0.2%1.3%3.2%64.7%Band 9 0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%Band 8 1.1%7.0%17.3%11.1%0.7%1.8%3.1%57.7%Band 7 0.4%10.8%13.9%

175、9.4%0.4%1.9%3.2%60.0%Band 6 0.3%23.1%7.0%7.1%0.3%1.7%3.4%57.2%Band 5(Director)0.0%18.2%8.6%6.3%0.0%2.0%2.0%62.9%Bands 4,3,2 and 1(Senior management)0.0%13.9%11.1%0.0%0.0%0.0%0.0%75.0%U.S.race/ethnicity 0.4%American Indian/Alaskan Native 7.2%Asian 17.5%Black 7.5%Hispanic 0.3%Native Hawaiian/Pacific I

176、slander 1.5%Two or more races 3.2%Unknown/undeclared 62.4%White 22 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixDiversity across Verizon Corporate Global gender 54.8%Female 45.0%Male 0.2%Unknown/undeclared Global gender by position Female Male Unknown/unde

177、clared Associates 90.0%10.0%0.0%Band 9 0.0%100.0%0.0%Band 8 67.1%32.9%0.0%Band 7 57.0%42.6%0.3%Band 6 53.6%46.2%0.2%Band 5(Director)47.7%52.3%0.0%Bands 4,3,2 and 1(Senior management)45.5%54.5%0.0%U.S.race/ethnicity by position American Indian/Alaskan Native Asian Black Hispanic Native Hawaiian/Pacif

178、ic Islander Two or more races Unknown/undeclared White Associates 0.0%0.0%40.0%10.0%0.0%0.0%0.0%50.0%Band 9 0.0%0.0%100.0%0.0%0.0%0.0%0.0%0.0%Band 8 0.0%7.7%20.9%20.9%0.0%2.7%3.8%44.0%Band 7 0.2%9.6%18.1%15.8%0.3%2.3%2.4%51.4%Band 6 0.2%12.5%9.3%9.4%0.1%3.0%5.1%60.4%Band 5(Director)0.7%11.0%8.6%3.9%

179、0.0%2.7%2.2%70.9%Bands 4,3,2 and 1(Senior management)0.0%11.4%11.4%4.5%0.0%1.1%2.3%69.3%U.S.race/ethnicity 0.2%American Indian/Alaskan Native 11.1%Asian 12.9%Black 11.4%Hispanic 0.1%Native Hawaiian/Pacific Islander 2.7%Two or more races 3.7%Unknown/undeclared 57.9%White 23 Verizon 2023 ESG ReportApp

180、roachV TeamersOperational integrityEnvironmentCommunityAppendixDiversity across Verizon Global Services Global gender 34.4%Female 64.6%Male 1.0%Unknown/undeclared Global gender by position Female Male Unknown/undeclared Associates 28.6%71.4%0.0%Band 9 29.1%8.1%62.8%Band 8 47.6%50.4%2.0%Band 7 36.5%6

181、2.7%0.8%Band 6 28.3%71.6%0.2%Band 5(Director)34.2%65.8%0.0%Bands 4,3,2 and 1(Senior management)30.0%70.0%0.0%U.S.race/ethnicity by position American Indian/Alaskan Native Asian Black Hispanic Native Hawaiian/Pacific Islander Two or more races Unknown/undeclared White Associates 0.4%1.6%20.7%7.2%0.1%

182、1.9%2.7%65.4%Band 9 0.0%66.7%16.7%0.0%0.0%0.0%16.7%0.0%Band 8 2.1%8.6%25.1%14.2%0.0%2.8%1.6%45.7%Band 7 0.8%20.5%12.9%10.4%0.2%2.1%3.2%49.9%Band 6 0.3%38.0%5.4%5.7%0.2%1.4%3.1%45.8%Band 5(Director)0.3%26.1%5.8%5.2%0.0%0.9%1.8%60.0%Bands 4,3,2 and 1(Senior management)0.0%28.6%6.1%6.1%0.0%0.0%2.0%57.1

183、%U.S.race/ethnicity 0.6%American Indian/Alaskan Native 24.9%Asian 11.4%Black 8.2%Hispanic 0.2%Native Hawaiian/Pacific Islander 1.8%Two or more races 2.9%Unknown/undeclared 50.0%White 24 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixEmployee engagement Our e

184、mployees are at the center of our success.To drive business performance,we regularly solicit their feedback across a range of workplace topics.Annual employee survey process Verizon partners with Gallup,an industry leader in workplace analytics and insights,to conduct surveys that capture global emp

185、loyee sentiment and track progress around our engagement goals.We strongly encourage all of our employees to participate in these regular surveys,which solicit feedback on a range of issues relating to workplace culture and business strategies.Our Chief Human Resources Officer shares the top-line re

186、sults of employee surveys at least annually with our Board of Directors and more frequently with senior leadership and all employees.2023 employee survey cycle Q1 surveyGauges understanding of how individual work aligns with company and business unit goals.Q2 survey Measures employee sentiment on le

187、adership,inclusion,values and empowerment.Q3 survey Assesses managerial accountability for customized team action plans.Q4 survey Solicits employee feedback on topical issues such as workplace culture and well-being.VZPulse+survey VZPulse+,our signature and most robust survey of the year,focuses on

188、employee engagement using the Gallup Q12 index.This survey is designed to measure sentiment on performance management,leadership,inclusion,values and empowerment.Confidential,aggregated results of the VZPulse+survey are cascaded,as applicable,to leaders throughout the company and jumpstart an annual

189、 action-planning process.Leaders are expected to share their team-specific results and create a customized action plan to be implemented over the next 12 months.Subsequent surveys measure the implementation and efficacy of the plans.The 2023 VZPulse+survey achieved an employee participation rate of

190、88%.Our results ranked in the 83rd percentile in overall employee engagement,82nd percentile for a culture of inclusion and 76th percentile in overall satisfaction compared to Gallups company-wide database.Our results indicate that,compared to other organizations,Verizons culture is more caring,prov

191、iding employees with frequent recognition and regular progress discussions.Other engagement channels In addition to our Gallup surveys,Verizon conducts employee life cycle surveys,including onboarding,learning and development and exit surveys,to assess the effectiveness of our programs and policies.

192、The results of these surveys are shared with the program owners.Our senior leaders engage with and solicit feedback from our employees during periodic town halls and leadership forums.Our CEO and senior leaders regularly join company webcasts,including after each quarterly earnings release,to discus

193、s developments across our business and topical societal issues and answer employee questions.25 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixLabor relations Verizons workforce includes a large presence of union-represented employees.The Communications Work

194、ers of America(CWA)and the International Brotherhood of Electrical Workers(IBEW)together represent approximately 24%of our employees as of December 31,2023.Informed by the International Labour Organization Declaration on Fundamental Principles and Rights at Work,as well as the United Nations Global

195、Compact,Verizon respects our employees rights to freedom of association and collective bargaining in compliance with applicable law,including the right to join or not join worker organizations(labor unions).We respect our employees rights to engage in concerted,protected activity.When our employees

196、elect to be union-represented,Verizon engages in constructive labor relations with the union representing the employees and participates in good-faith bargaining.The current collective bargaining agreements that cover our union-represented employees who serve customers in our Mid-Atlantic and Northe

197、ast service areas extend through August 1,2026.In addition,where applicable outside of the U.S.,we engage with employee representative bodies such as works councils.We have a long history of maintaining open dialogues with national and local leaders of the CWA and IBEW,as well as works council leade

198、rs outside the U.S.,on key business topics such as worker safety,customer service,plans to improve operational processes and our business performance and the impacts of changing technology and competition on our customers,employees and business strategy.We invest in ongoing educational opportunities

199、 for our workers.Training occurs across a variety of in-person and online platforms and through virtual and simulated environments.Newly hired employees launch their Verizon careers through intensive orientation sessions,on-the-job shadowing and,where applicable,technical training and skill applicat

200、ion days.We help keep our workers and,ultimately,our customers safe by weaving safety components,including required courses and certification programs,into every technical training curriculum.We encourage our employees to refresh and build their skills on an ongoing basis.Verizon employees can take

201、advantage of our Global Tuition Assistance Program,through which they receive a capped reimbursement for covered expenses to continue their education at any level.All employees have access to our complete catalog of learning courses.We regularly instruct our local managers and supervisors to appropr

202、iately engage with employees and abide by all applicable federal,state and local laws.We also train them on our open-door policy for employees to raise issues or concerns,as well as the appropriate processes to respect and redress such issues.Verizon maintains several avenues through which all emplo

203、yees,including union-represented workers,may raise concerns,including through our global ethics hotline and online web portal discussed in Business ethics.26 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixOperational integrity In this section:Business ethics

204、 28 Guiding principles 28 Enterprise-wide compliance program 28 Ethics team 29 Anti-corruption 29 Antitrust compliance 29 Political contributions and engagement 30 Global tax policy 30 Our approach to human rights 31 Business&Human Rights Program 31 Strategic human rights assessments 31 Supply c

205、hain 32 Supplier diversity 32 Supply chain management 33 Supplier assessments 33 Responsible procurement 34 Digital responsibility 35 Cybersecurity 35 Data privacy 36 Responsible AI Program 38 Verizons Responsible AI Principles 38 Digital accessibility 39 Digital safety 39 27 Verizon 2023 ESG Report

206、ApproachV TeamersOperational integrityEnvironmentCommunityAppendixBusiness ethics We are committed to operating responsibly and with integrity.We have adopted enterprise-wide policies to reinforce ethical business conduct and provide mechanisms for accountability.Guiding principles Credo Grounded in

207、 our core values of integrity,respect,performance excellence,personal accountability and social responsibility,our Credo guides our actions and empowers our decision-making while inspiring us to drive inclusive growth.Code of Conduct Our Code of Conduct is a powerful tool that helps employees put ou

208、r core values into action.It provides employees with clear standards,helpful examples and information on where to go for guidance about ethical decision-making or to raise compliance concernsincluding the Verizon Ethics hotline that allows for anonymous reporting or“whistleblowing.”All Verizon emplo

209、yees receive mandatory training on our Code of Conduct at their time of hire,and its provisions are continually reinforced through annual training and periodic communications.The Code and training are available to employees in 11 languages.The current version of the Code,like every prior iteration,f

210、eatures extensive coverage of anti-corruption issues,including Verizons absolute prohibition on bribery,our policy requirement to obtain legal approval before providing anything of value to any government official,the need for adequate controls over third parties who may interact with government off

211、icials on our behalf and the importance of maintaining records that fully and accurately document all business transactions.Enterprise-wide compliance program Verizons enterprise-wide compliance program is overseen by the Audit Committee of our Board of Directors and managed by our Chief Compliance

212、Officer.We design our compliance program to promote a culture of integrity and accountability throughout Verizon,including its subsidiaries,by:Establishing standards of conduct,including the Code of Conduct,corporate policy statements and other guidelines Educating employees on ethical decision-maki

213、ng,legal obligations and compliance risks through training and communications Assessing legal and ethical risks and providing insights regarding those risks to business leaders Providing subject matter expertise and advice regarding specific risk areas Providing employees and third parties with mech

214、anisms to seek guidance,raise concerns and report allegations of misconduct Investigating instances of potential misconduct Ensuring appropriate corrective action for substantiated cases of misconduct Providing regular reports to the Audit Committee of the Board of Directors Verizon conducts regular

215、 compliance risk assessments and audits.These assessments are led by our Chief Compliance Officer,who reports directly to the Audit Committee of the Board of Directors.Annual compliance executive risk assessments of business units and corporate functions are designed to identify and assess existing,

216、evolving and emerging risk areas and develop appropriate risk mitigation plans.The Chief Compliance Officer also oversees periodic risk assessments of specific compliance risk areas,such as anti-corruption.28 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixTh

217、ird-party risk is assessed by the Third Party Risk Management Program,which maintains a formal process to analyze risk and appropriately mitigate concerns involving suppliers and partners.Additionally,Verizon Internal Audit,an independent function that also reports directly to the Audit Committee of

218、 the Board,conducts a wide range of audits each year,including audits focused specifically on Verizons compliance with applicable laws and regulations.Ethics team Verizons integrated ethics and compliance organization delivers consistent guidance on integrity issues,so that as we create the networks

219、 that move the world forward,we do it the right way.Verizon Ethics serves as the primary resource for employees seeking ethics guidance and has two primary functions:fielding questions about ethics issues and responding to concerns and complaints about potential misconduct.The team:Provides a confid

220、ential online portal and a 24/7 global ethics hotline that can accommodate calls in numerous languages for anyone who wants to seek guidance or report ethics concerns Triages concerns and allegations raised and,when appropriate,makes sure that they are assigned to the correct teams in the Finance,Hu

221、man Resources,Legal and Security organizations Provides ethics advice to employees seeking guidance in applying the Code of Conduct and company policies to business decisions or outside interests Manages the International Ethics Advisors network,which acts as a force multiplier to provide local,in-c

222、ountry ethics support to employees outside the U.S.Administers the annual conflict of interest questionnaire Verizon thoroughly investigates all claims of misconduct.Teams within the Human Resources,Legal and Security organizations are specially trained to probe potential violations of the Code and

223、provide updates and case resolutions,as appropriate,to reporters of ethics concerns.Our Internal Audit and Enterprise Risk Management teams provide additional support with investigations as needed.Verizon consistently reinforces to all employees that retaliation against anyone submitting complaints

224、or cooperating with an investigation is strictly prohibited,and anyone engaging in retaliation is subject to discipline,up to and including termination of employment.This prohibition is reiterated in training,communications and during investigatory interviews.We also ensure transparency in investiga

225、tions by having our Chief Compliance Officer regularly report serious Code violations to the Audit Committee of the Board of Directors.Anti-corruption Verizons anti-corruption program is designed in accordance with the U.S.Department of Justices corporate compliance program guidance.We enforce a zer

226、o-tolerance policy for bribery or corruption of any kind and maintain strong anti-corruption standards designed to prevent,detect and remedy such risks.All employees receive general anti-corruption training as part of their annual Code of Conduct training.In addition,employees in relevant operationa

227、l roles receive targeted anti-corruption training and communications that clearly articulate our expectations,core principles and zero tolerance for any corrupt practices.Our training helps employees understand and comply with various anti-bribery laws,including the U.S.Foreign Corrupt Practices Act

228、 and the U.K.Bribery Act.We require employees to obtain legal approval before giving anything of value to a public official,including requests by government officials for Verizon to make“expediting”or“facilitating”payments.We have internal controls in place,such as the monitoring of travel,gifts and

229、 expenses,to help deter and detect high-risk transactions.Every two years,we formally review and assess our anti-corruption program in order to identify areas for improvement.Our Chief Compliance Officer reports the findings to the Audit Committee of the Board of Directors.Risk assessments of indivi

230、dual programs,groups and activities within the company are conducted as needed.These assessments identify risks,including corruption-related risks,and recommend process improvements to address those risks in all areas of the business.Antitrust compliance Verizon consistently promotes a culture of an

231、titrust compliance across the enterprise.Our dedicated in-house antitrust team continually monitors the business and regulatory environment,assesses risk and dynamically refreshes our global antitrust program for maximum reach and effectiveness.The antitrust team embeds antitrust flags and reporting

232、 mechanisms into product development and review processes to scale and systematize identification of potential competition issues by design.We provide global and tailored antitrust trainings.We also require all employees at the manager level and above,plus lower-level employees in identified higher

233、exposure teams,to take an antitrust foundations course at their time of hire.We periodically refresh this training.We make the antitrust foundations course,as well as numerous more-in-depth courses,available to all Verizon employees on-demand.Our Code of Conduct mandates compliance with applicable a

234、ntitrust laws.The antitrust and compliance teams investigate any conduct suspected to violate antitrust laws and the Code of Conduct.Employees in violation face repercussions ranging from retraining to termination.29 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAp

235、pendixPolitical contributions and engagement We participate in the policymaking process at the federal,state and local levels in order to inform public officials of Verizons views on policy issues.Government policies can have a significant impact on our business,whether they involve decisions on tax

236、es,technology regulation or consumer issues like protecting user privacy and stopping illegal robocalls.We participate in these conversations so that government decision-makers understand how these policies could affect Verizon and our customers,employees and shareholders.Lobbying As part of our adv

237、ocacy,we engage in lobbying at all levels of government through our own employees and through outside consultants.Our Public Policy and Government Affairs organization approves any engagement of lobbyists on behalf of Verizon,and we strictly comply with all lobbying laws requiring disclosure of our

238、activities and expenses.Political contributions Political contributions are one way we support the democratic electoral process and participate in the policy dialogue.Verizon makes political contributions where law permits and also operates several political action committees(PACs)that support candi

239、dates at the federal,state and local levels.All contributions by Verizon and our PACs are made to promote the interests of the company,our shareholders and our customers and without regard to the personal political interests of Verizon executives.We support candidates of any political party who shar

240、e our key strategic business and policy priorities,even if we do not agree with them on every issue.We do not make corporate political contributions or PAC contributions to presidential candidates or federal SuperPACs.Third-party organizations Verizon supports trade associations and issue advocacy o

241、rganizations for a number of reasons,including to reflect our interest in the community,acquire valuable industry and market expertise and support our strategic policy positions,business goals and interests.We recognize that we may not always agree with every position of each organization or its mem

242、bers and that these groups often have a diversity of members,interests and viewpoints that may not always reflect Verizons views or priorities.In order to mitigate reputational risks associated with our engagement with these organizations,we regularly review our participation to confirm ongoing alig

243、nment with our corporate priorities and goals.When we disagree with a position of an organization we support,we communicate our concerns through the senior executives who interact with these organizations.Governance,transparency and disclosure Verizon participates in policy dialogues with appropriat

244、e governance,oversight and transparency mechanisms to mitigate reputational risk.Verizons political activity is directly overseen by the Legal and Public Policy and Government Affairs organizations.All of our political activity is subject to robust internal controls set forth in our Code of Conduct

245、and other corporate policies.The Corporate Governance and Policy Committee of our Board of Directors oversees our participation in the political process,including political giving,memberships in trade associations and reputational risk,and receives a comprehensive briefing on these activities at lea

246、st annually.Verizon understands that transparency regarding our political engagement is critical to maintaining the trust of our employees,shareholders and the public,so we publish our Political Engagement Report twice a year.This report describes our current policy priorities,provides information a

247、bout lobbying activities and our Public Policy and Government Affairs organizations significant memberships in trade associations and issue advocacy organizations,and lists all of our PAC contributions,corporate political contributions,support for ballot initiatives and independent expenditures for

248、the period covered.Global tax policy Verizon is a responsible taxpayer that timely and accurately files all applicable tax returns,pays all applicable taxes and accurately reports taxes in our financial statements.We are committed to maintaining a transparent and positive working relationship with t

249、ax authorities in the jurisdictions in which we operate.We also partner with tax authorities and governments to advocate for tax guidance and legislation that provides clarity,is administrable,reduces tax disputes and is socially and fiscally responsible.Verizon has implemented formal tax governance

250、 policies,procedures and controls that strive to meet or exceed best practices on tax governance.Our tax control framework is SOX-compliant and subject to periodic review by the Senior Vice President&Deputy General Counsel Corporate Taxes,Verizon Internal Audit and our external auditors.Verizons

251、 tax principles,and compliance with them,are overseen by the Audit Committee of our Board of Directors,as well as the Chief Financial Officer and Chief Legal Officer.Verizons Global Tax Policy provides that Verizon only engages in transactions that are supported by a non-tax business purpose.As such

252、,we only operate in jurisdictions based on the needs of the business and the requirements of our multinational customers.We do not utilize zero or low tax jurisdictions outside the U.S.to minimize our taxes,and we do not engage in tax shelter transactions or transactions that have been identified as

253、“listed transactions”or“transactions of interest”by the U.S.Internal Revenue Service and other taxing authorities.In addition,Verizons transfer pricing policies are based on the arms length principle and compliance with guidelines and documentation requirements set by the taxing authorities in the j

254、urisdictions in which we operate.30 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCommunityAppendixOur approach to human rights Verizons Human Rights Statement,grounded in our Credo,sets forth our commitment to respecting internationally recognized human rights.Our approach

255、 to human rights governance is guided by the human rights due diligence framework set forth in the United Nations Guiding Principles on Business and Human Rights.Business&Human Rights Program Verizons dedicated Business&Human Rights Program leads our human rights governance efforts.We take a

256、 structured approach to integrating and embedding human rights considerations into decision-making processes across the company.Our efforts include attention to the human rights impacts of our products,services,strategy and operations and to our engagements with employees,customers,communities,gover

257、nments,business partners and suppliers.The Business&Human Rights Program undertakes these efforts with support from a global cross-functional team of internal partners and with oversight from the Corporate Governance and Policy Committee of our Board of Directors.Our Business&Human Rights Pr

258、ogram provides Verizon employees with tools,guidance and targeted training to support the companys efforts to operate in a manner that is consistent with our commitment to respect human rights.A learning module is available to all Verizon employees with information on international human rights,our

259、companys efforts to respect human rights and the work of the Business&Human Rights Program.Strategic human rights assessments Our Business&Human Rights Program conducts ongoing human rights due diligence to identify,understand and address human rights risks that may intersect with our busine

260、ss.Our due diligence efforts include strategic human rights impact assessments,when appropriate.These strategic human rights assessments are informed by consultation with internal teams and external stakeholders from industry,civil society,academia and the communities where we do business.Corporate-

261、wide saliency assessment Our human rights work focuses on our salient issues:the right to privacy,the right to be free from discrimination,the right to freedom of expression and opinion,rights in the workplace and rights in the supply chain.In 2023,we undertook a refresh of our saliency assessment a

262、nd considered both changes to our business and the impacts of external trends.The 2023 refresh confirmed and provided new insights on our salient issues and the focus areas of our human rights work.Human rights impact assessment of 5G and emerging technologies We conducted a human rights impact asse

263、ssment focused on our impacts and opportunities in a 5G-enabled technology era.This assessment examined 5G technology from the perspective of a network operator and looked at the roles and responsibilities of different actors in respecting human rights in an increasingly interconnected 5G technology

264、 ecosystem.Child rights impact assessment In 2022,we published findings from Verizons first child rights impact assessment.The assessment examined Verizons potential impacts on children across all aspects of our operations,including impacts in connection with digital access,inclusion and skills;digi

265、tal safety;product design and our supply chain.For more information on our human rights due diligence and assessments,see our Human Rights website.Focus on digital rights Our Business&Human Rights Program works closely with internal teams to build governance mechanisms and provide transparency a

266、bout Verizons approaches to privacy,free expression and non-discrimination.For example,our newly published approach to AI governance that guides our development,acquisition,deployment and use of AI includes a principle relating to respect for human rights and responsibility to society.For more infor

267、mation,see our Responsible AI Program.We continue to support our digital rights work through our membership in the Global Network Initiative,the leading multi-stakeholder initiative in the information and communications technology sector.31 Verizon 2023 ESG ReportApproachV TeamersOperational integri

268、tyEnvironmentCommunityAppendixSupply chain Verizons supply chain is the foundation of our secure network.Our suppliers range from the worlds largest original equipment manufacturers to smaller providers of equipment,hardware,software and various services.We have implemented risk mitigation processes

269、 and an active supplier engagement program to build a diverse,resilient and responsible supply chain.Supplier diversity Supply chain Our enterprise-wide supplier diversity initiative aims to build a supply chain that is as diverse as the communities we serve.We believe that accelerating diverse busi

270、ness development strengthens the supplier ecosystem.Verizons Center of Excellence for Supplier Diversity leads our enterprise-wide supplier diversity program,working with a network of business unit“supplier champions”from across the company to set internal supplier diversity targets,track our divers

271、ity spend goals and reporting obligations,implement training for employees and suppliers and monitor progress through regular analytics and reporting.Our Supplier Diversity team also works closely with our Sourcing organization to confirm that suppliers from traditionally underrepresented,disadvanta

272、ged or minority groups are positioned to compete for new contracts and opportunities.We are a charter member of the Billion Dollar Roundtable,a coalition formed in 2001 of companies that each spend more than$1 billion every year with diverse businesses.Capital markets Verizon continues to demonstrat

273、e leadership in promoting the growth of diverse firms in the debt capital markets.Over the past year,we partnered with 10 diverse firms across all of our eligible unsecured debt capital markets transactions and asset-backed securities(ABS)offerings.We also allocated 40.6%of gross unsecured debt capi

274、tal markets fees to diverse firms and awarded 9.6%of ABS underwriting fees to diverse firms.Outside of the debt capital markets,we continue to support diverse managers in our defined benefit pension plan.Assets under management with diverse firms constituted 5.3%of the defined benefit pension plan a

275、ssets as of December 31,2023.Marketing ecosystem Verizons Responsible Marketing Action Plan seeks to increase diversity and equity across the creative supply chain;build an inclusive environment for talent that reflects the communities we serve;strengthen practices aimed at fighting bias and stereot

276、ypes in all advertising,content and media and maintain the gold standard of brand safety.Our Responsible Marketing Policy prohibits Verizon creative from being placed or run in broadcast or digital environments where hateful,denigrating,discriminatory or other types of harmful content appear.Annuall

277、y,we aim to spend over 40%of our production budget with diverse-owned production companies and engage diverse directors on at least 40%of our productions.Legal profession Verizon has a longstanding program to promote DEI in the legal profession.We collect and regularly review our outside counsel fir

278、ms diversity representation metrics,staffing across Verizon matters and other relevant information to evaluate the firms DEI efforts and work together on opportunities for enhancement,as appropriate.We also collaborate with a number of our outside counsel firms on paid internship programs that foste

279、r DEI in the legal pipeline.Diverse supplier spend In 2023,Verizon spent$6.1 billion in goods and services directly and indirectly with diverse suppliers,including businesses 51%owned,operated and controlled by people of color,women,veterans,service-disabled veterans,LGBTQ+and people with disabiliti

280、es.2 Over the past 10 years,we have spent$54.3 billion in goods and services with diverse suppliers.To further strengthen our efforts,our short-term incentive plan for management employees has included a performance measure related to supplier diversity for over 15 years.32 Verizon 2023 ESG ReportAp

281、proachV TeamersOperational integrityEnvironmentCommunityAppendixSupply chain management Third Party Risk Management Program Verizons Third Party Risk Management Program supports the companys responsible sourcing efforts.Managed by a dedicated team,the program enables Verizon to identify,assess,monit

282、or and manage a range of supply chain risks,including those that may be associated with the social and environmental impacts of supplier activity.The Third Party Risk Management team works closely with teams across the company to implement a risk management framework and make recommendations regardi

283、ng future supplier engagement.This work happens throughout the supplier life cycle,including during planning,due diligence,contracting,ongoing monitoring and termination.The Third Party Risk Management team is responsible for providing program oversight,coordination and support to stakeholders acros

284、s Verizon.Supply chain risk management is reviewed with the Audit Committee of the Board of Directors as part of business risk reviews held throughout the year.Supply Chain Resilience Management Program A resilient supply chain is an effective supply chain.Verizons Supply Chain Resilience Management

285、 Program identifies,assesses,monitors and manages supply chain risks,including disruptions caused by natural and human-induced events,to better coordinate our supply chain activities and aid the effectiveness of our controls.The program monitors how Verizon employees and business partners manage the

286、 life cycle phases of our physical products,software,firmware and services.The program also assesses whether stakeholders need to improve their procedures to more effectively mitigate supply chain risks as they relate to four key categories:security,integrity,resilience and quality.This work is guid

287、ed by our corporate policy statement on supply chain resilience management and overseen by our cross-functional Global Supply Chain Resilience Governance Council.Business partner standards of conduct Suppliers.Verizon expects all of our suppliers to comply with our Supplier Code of Conduct(Supplier

288、Code)and maintain policies and procedures to guard against illegal activity such as corruption,extortion,embezzlement and bribery.Our Supplier Code also forbids the use of child labor and forced labor,protects employees rights to freedom of association and collective bargaining,as permitted by local

289、 laws,and prohibits discrimination on any basis prohibited by applicable law.We reserve the right to review or audit our suppliers compliance with the Supplier Code.Sales agents.We recognize that our reputation is affected by the actions of the agents authorized to participate in the sale of our ser

290、vices and equipment to customers.Our Sales Agent Standards of Conduct(Sales Agent Standards)detail the behavior and values that we expect our sales agents to uphold.The Sales Agent Standards also require our sales agents to implement an appropriate management process to ensure ongoing compliance wit

291、h applicable laws,regulations and customer requirements,as well as with the standards.We reserve the right to review or audit our sales agents compliance with the Sales Agent Standards.Promoting compliance.Verizon provides mandatory training on our Supplier Code and Sales Agent Standards for our key

292、 suppliers and sales agents.We have established processes for parties to promptly report questions or concerns relating to our Supplier Code and Sales Agent Standards.Any party can raise questions or concerns or report potential or actual violations by contacting Verizon Ethics via email or through

293、our confidential portal and hotline,available at .Supplier assessments We leverage third-party platforms and industry partnerships to embed responsible business practices throughout our supply chain.EcoVadis In addition to submitting our own annual EcoVadis response,we use the EcoVadis assessment to

294、ol to evaluate our suppliers responsible performance.We monitor and assess supplier performance in four areas:environment,labor and human rights,ethics and sustainable procurement.Since 2013,we have assessed 728 key suppliers through our partnership with EcoVadis.When weaknesses are identified,we wo

295、rk with the supplier to create a corrective action plan to improve their current activities,benefitting both Verizon and the supplier.Joint Alliance for CSR Verizon is a member of the Joint Alliance for CSR(JAC),an association of telecommunications operators that collaboratively audits common suppli

296、ers and looks for opportunities to improve supplier responsibility across our industry.JAC audits are based on a common verification,assessment and development methodology,including the generation of corrective action plans.Topics covered by these audits include child labor,forced labor,worker healt

297、h and safety,freedom of association,non-discrimination,disciplinary practices,working hours,wages and compensation,environmental protection and business ethics.Through 2023,1,060 supplier audits had been completed since JACs inception in 2010,with 150 audits completed in 2023.33 Verizon 2023 ESG Rep

298、ortApproachV TeamersOperational integrityEnvironmentCommunityAppendixResponsible procurement Verizon is dedicated to responsible sourcing practices that support human rights,ethical conduct and environmental protection.We collaborate with suppliers and industry partners to strengthen responsible sou

299、rcing practices around the world.Modern slavery and human trafficking Verizon is committed to assessing and addressing the risk of modern slavery and human trafficking within our business operations and supply chain.Our Business&Human Rights Program,Business Risk,Sourcing and Third Party Risk Ma

300、nagement teams review the nature and extent of our exposure to the risk of modern slavery on an ongoing basis,focusing on areas of Verizons supply chain that may be at higher risk.Our efforts are also informed by engagement with industry peers through organizations such as JAC.Our Business Risk team

301、 is trained on modern slavery and human trafficking risk and carries out reputational risk due diligence on new and existing suppliers.The team escalates any potential risk factors to the Third Party Risk Management and appropriate legal teams for review.We describe our efforts in more detail in our

302、 country-specific human rights due diligence statements.Conflict minerals Verizons conflict minerals due diligence framework was designed to align with the Organization for Economic Cooperation and Developments Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected a

303、nd High-Risk Areas.Our approach takes into account our position in the conflict minerals supply chain and the fact that Verizon does not typically contract to manufacture the products associated with our business.We require our suppliers,when appropriate,to take steps to verify that their products d

304、o not include materials that either directly or indirectly finance or benefit armed groups in the Democratic Republic of the Congo or in any adjoining country.We also participate in industry initiatives and partnerships to support responsible raw material sourcing in high-risk countries and regions,

305、including the Responsible Business Alliance and the Public-Private Alliance for Responsible Minerals Trade.Our Chief Financial Officer is the signatory on our Conflict Minerals Report,whenever such filing is required.3 34 Digital responsibility Verizon 2023 ESG ReportApproachV TeamersOperational int

306、egrityEnvironmentCommunityAppendixWe recognize that we have a responsibility to our customers,employees,business partners and shareholders to guard against the risks that come with operating in an increasingly digital world.Cybersecurity Verizons comprehensive cybersecurity program is designed to id

307、entify and protect against cybersecurity risks and to position Verizon to rapidly detect,respond to and recover from cybersecurity incidents that impact our company.The program is built on the following pillars:NIST Cybersecurity Framework.Our program is aligned to the National Institute of Standard

308、s and Technologys Cybersecurity Framework,which outlines the core components and responsibilities necessary to sustain a healthy and well-balanced cybersecurity program.Risk identification.We continually assess the cybersecurity threat and vulnerability landscape using various commercial,government

309、and publicly available information sources.Risk detection.We use both manual and automated detection methods on a scheduled and ad-hoc basis to identify vulnerabilities within,and threats to,our operations and network infrastructure.Risk evaluation.Once a cybersecurity vulnerability is detected,we a

310、ssign a threat severity classification based on the risk profile associated with the vulnerability.Remediation.Verizons information security team reports all cybersecurity vulnerabilities and their associated threat classification to the appropriate business team for remediation.Deadlines for remedi

311、ation are set based on the severity of the threat and closely tracked in a central system of record.In the instances when a remediation deadline cannot be met,the information security and business teams work together to deploy appropriate mitigating or compensating controls until the remediation wor

312、k is complete.Metrics and analysis.We track the performance of our cybersecurity program by collecting,retaining and analyzing a broad range of data related to our threat identification,detection and response activity.We use this data to assess threat trends,for strategic planning purposes and to en

313、hance management accountability for cybersecurity.Verizon has a comprehensive enterprise cybersecurity incident response plan,which is activated in the event of a cybersecurity incident.The plan is a detailed playbook that specifies how Verizon classifies,responds to and recovers from cybersecurity

314、incidents and includes notification procedures that vary depending on the significance of the incident.When warranted by the severity of the incident,our Chief Executive Officer and other senior executives are part of the notification chain.Verizon validates enterprise cybersecurity maturity every t

315、wo years through a third-party maturity assessment.This assessment measures Verizons ability to identify,prevent,detect,respond to and recover from threats to systems,assets and data.The results of the assessment serve as the baseline for enterprise cybersecurity across the company.In addition to th

316、is baseline,certain subsets of our technology environment are subject to incremental cybersecurity certification and periodic third-party validation under applicable regulatory or contractual requirements.Integrated cybersecurity risk management Verizons Senior Vice President and Chief Information S

317、ecurity Officer(CISO)has responsibility for the management of cybersecurity risks at the company.The CISO and her team are responsible for Verizons information security strategy,policy,standards,architecture and processes.Verizon effectuates cybersecurity management by providing for close cooperatio

318、n among the CISOs team and other teams within the company,as well as by integrating cybersecurity risk into our overall enterprise risk management structures and processes.Each of our business units and certain functional groups have a Business Information Security Officer,who is an integral member

319、of that unit or group but reports to the CISO.This structure provides the CISO with line of sight across the enterprise.The Verizon Executive Security Council(VESC)oversees and evaluates the work of the CISO and her team.The VESC provides oversight of all aspects of Verizons cybersecurity program an

320、d,at regular intervals throughout the year,evaluates key cybersecurity metrics as well as planned and ongoing initiatives to reduce cybersecurity risks.Verizons Management Audit Committee(VMAC),which includes our Chief Financial Officer,Senior Vice President of Internal Audit and other senior execut

321、ives,is responsible for overseeing components of our overall risk management strategy.The VMAC receives quarterly updates from the CISO on Verizons cybersecurity program.Verizon also operates a robust internal audit program.Each year,Verizons internal audit team conducts an overall business risk ass

322、essment,which includes an evaluation of cybersecurity risks.The results of the assessment are presented to the leaders of the relevant business teams,who are responsible for prioritizing and addressing the risks identified.35 Verizon 2023 ESG ReportApproachV TeamersOperational integrityEnvironmentCo

323、mmunityAppendix Board oversight of cybersecurity risk The Audit Committee of the Board of Directors has primary responsibility for overseeing our risk management and compliance programs relating to cybersecurity and data privacy.The CISO leads an annual review and discussion with the full Board dedi

324、cated to Verizons cybersecurity risks,threats and protections.The CISO provides a mid-year update to this annual review to the Audit Committee and,as warranted,additional updates throughout the year.The Audit Committee also receives a report from senior management on Verizons cybersecurity posture a

325、nd related matters at each of its other meetings during the year at which the CISO is not present.Third-party risk management We have implemented processes to identify and manage risks from cybersecurity threats associated with our use of third-party suppliers.Our Third Party Risk Management team es

326、tablishes governance,processes and tools for managing various supplier-related risks,including information security.As a condition to working with Verizon,suppliers who access sensitive business or customer information are expected to meet certain information security requirements.Data Breach Invest

327、igations Report Verizons perspective on data security is based,in part,on our annual Data Breach Investigations Report(DBIR),a comprehensive study of data security incidents from around the world.In 2023,the DBIR analyzed over 16,300 cybersecurity incidents.This actionable intelligence helps compani

328、es large and small better understand the threat environment and plays an important role in shaping Verizons own cybersecurity efforts.Data privacy Verizon recognizes that protecting the privacy of customer,employee and business partner data is an essential part of operating and growing our business.

329、We have established measures to protect the privacy and security of the data entrusted to us and to support compliance with current and emerging international,federal and state data privacy legislation.Our Chief Privacy Officer oversees this work and reviews data privacy risks and mitigating actions

330、 with the Audit Committee of our Board of Directors at least annually.Verizon has adopted corporate policies and operating procedures governing the use,retention and protection of the data we collect.Detailed information about Verizons privacy policies and practices can be found at our Privacy Cente

331、r,which contains links to our Privacy Policy,supplemental policies for some of our apps and services and privacy policies maintained by our affiliated companies.We update our privacy policies to reflect developments in products,services and technologies.We do not use personal information in a manner

332、 that is materially different from the terms of the privacy policy that was in place at the time that information was collected without providing notice and obtaining consent.Our policies and procedures are subject to numerous controls.We utilize internal audits and employee,contractor and supplier

333、training to promote ongoing compliance.Verizon has implemented a privacy governance framework to map privacy requirements to specific operational controls,which are assigned to appropriate owners.As part of the framework,Verizon tests and monitors the controls and develops remediation plans where necessary.Key employees include terms related to their ownership of controls in their annual performance agreements.Verizon continuously moni