Intel Reinforces Sustainability Commitment with Inaugural $1.25 Billion Green Bond Offering
, fromIntel Corporation
Intel's first-ever green bond is priced at $1.25 billion. Proceeds will be used to fund projects in six key areas that support Intel's sustainability goals. ISS has issued an opinion supporting the green financing framework, which can be found on ISS's website.
Intel today announced the pricing of its inaugural green bond issuance, totaling $1.25 billion. The net proceeds of the green bond offering will be used to fund eligible projects in six key areas that support Intel’s sustainability goals, including green buildings, energy efficiency, circular economy and waste management, greenhouse gas emissions reductions, water stewardship, and renewable electricity. The green bond is part of a $6 billion overall debt public offering, and the proceeds from the remainder of the offering will be used for general corporate purposes including but not limited to refinancing of outstanding debt, funding for working capital and capital expenditures.
“Intel’s first-ever green bond aligns our financing priorities with our commitment to sustainable business practices. It will help us advance the goals we have undertaken in our RISE 2030 framework, including our commitment to net-zero greenhouse gas emissions across global operations by 2040, and enable us to accelerate investment in areas where we can have significant and immediate impact on global environmental issues.”
–David Zinsner, Intel chief financial officer
Why It Matters: This green bond is intended to fund advancements in Intel’s environmental sustainability goals through projects that meet defined eligibility criteria. Intel has published its green financing framework, which details the eligible projects within each of the six key sustainability areas. The framework also reinforces the company’s history of corporate responsibility and its long-standing commitment to creating a more responsible, inclusive and sustainable world, enabled through technology and the expertise and passion of its employees.
ISS ESG, the responsible investment arm of Institutional Shareholder Services Inc. (ISS), has issued an opinion supporting the framework, which can be found on ISS’s website. In its 2022 ESG Corporate Rating for Intel, ISS notes that the company “shows a high sustainability performance against the industry peer group on key ESG issues faced by the semiconductor industry.”
Source: Intel newsroom