Verizon Finalizes Allocation of its 2nd $1 Billion Green Bond

Published on:
e797a73c-ce36-447f-bf12-b80cc2238f0d

Verizon has fully allocated the net proceeds of its second green bond entirely to virtual power purchase agreements for renewable energy projects. These projects are for approximately 1 gigawatt (GW) of new renewable energy generating capacity across seven states. The use of proceeds from the bond is part of Citizen Verizon's responsible business plan for economic, environmental, and social advancement.

Today, Verizon issued its Green Bond Impact Report, outlining the full allocation of the nearly $1 billion of net proceeds from its second green bond.

Verizon became the first U.S. telecom company to issue a green bond back in February 2019. In September 2020, the company issued its second green bond and remains the only U.S. telecommunications company to complete the full allocation of two green bonds.

To date, we have issued $2 billion in green bonds that support the transition to a greener grid and help us achieve our ambitious goal of net zero emissions in our operations by 2035,” said Matt Ellis, Verizon’s executive vice president and chief financial officer. “Verizon’s green bond projects demonstrate our long-term commitment to minimize our environmental impact, drive operating efficiencies and benefit the communities we serve.”

Verizon has fully allocated the net proceeds of its second green bond entirely to virtual power purchase agreements for renewable energy projects. These projects are for approximately 1 gigawatt (GW) of new renewable energy generating capacity across seven states, of which about 83 percent is solar energy generating capacity and 17 percent is wind energy generating capacity. 

The use of proceeds from the bond is part of Citizen Verizon, the company’s responsible business plan for economic, environmental, and social advancement. The Green Bond Impact Report can be found on the company’s fixed income investor relations site. The website address is https://www.verizon.com/about/investors/green-bond-reports

source: Verizon news center

Share:
esg
esg
esg
esg

Companies Headlines

Accenture to Acquire Green Domus to Boost Green Goals

Accenture to Acquire Green Domus to Boost Green Goals

SMEs Deprioritise ESG Initiatives Due to Rising Costs

SMEs Deprioritise ESG Initiatives Due to Rising Costs

Tosca Tool Reduces Footprint in Bulk Liquid Transport

Survey Unveils Bright ESG Strategies of Chinese Firms

Menzies Unveils ESG Consulting Offering

Deepki Enhances ESG Platform with Nooco Acquisition

Uber Green: All-Electric Service in India

FedEx Helps Users View Historical Emissions Data

Vedanta Aluminum, ERM Unite for Biodiversity Plan

Nassau Adopts Responsible Investment Principles

More from Verizon Communications Inc.