National Organizations Celebrate Pro-Diversity Actions from Verizon, CPUC

The telecommunications corporation and the California Public Utilities Commission have reached an agreement
that directly puts funds into the pockets of minority-owned supply chains across the state 

Washington, DC – The California Public Utilities Commission (CPUC) announced Thursday its approval of Verizon’s acquisition of Frontier Communications, after the telecommunications giant committed to a series of investments that align with the state’s diversity, equity and inclusion policies and laws. This is a historic win for diversity advocates and consumers who have been outspoken for months about the benefits of DEI programs for consumers, employees, and profitability. This resolution punctuates the business incentive of DEI and represents the first time a state agency has successfully held a major corporation accountable for retreating from DEI commitments and secured concrete, enforceable solutions with independent oversight.

Verizon committed $500 million to hire small businesses through California’s small business program and established a $10 million partnership with California State University to create recruitment pipelines for underrepresented communities. CPUC will hire an independent compliance monitor to ensure the company continues to comply with these diversity, equity and inclusion commitments.

In response, Andrew Behar, CEO of As You Sow, issued the following statement:

“Verizon’s shareholders applaud the California Public Utilities Commission’s decision. We have analyzed data from over 1,600 companies spanning five years and know that greater workforce diversity leads to financial outperformance.  Investors have long asked Verizon to be a leader in this area; this decision will ensure that we build a culture that attracts and retains the best and the brightest employees who can rise through the ranks based on merit without bias. We see this as an example that will raise the bar for Verizon’s competitors and for all public companies.”