Ericsson Goes Green with Debut Bond

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by KnowESG,

Ericsson

KnowESG_Ericsson Goes Green with Debut Bond
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Ericsson has achieved a significant milestone by successfully placing a 500 million Euro-denominated green bond with a maturity of 4.5 years.

This noteworthy issuance, conducted under Ericsson's Euro Medium Term Note Program (EMTN), follows a well-attended road show where Ericsson presented its comprehensive business strategy and unwavering commitment to Environmental, Social, and Governance (ESG) principles.

This strategic move expands Ericsson's presence in the Eurobond market, a pivotal player in the global corporate bond arena. The funds secured through the bond placement are exclusively earmarked for investments in energy efficiency initiatives, underscoring Ericsson's dedication to sustainability.

Carl Mellander, Ericsson's CFO, expressed satisfaction with this remarkable achievement, stating, "The success of this green bond placement is a testament to the market's unwavering confidence in Ericsson's enduring competitiveness and our unwavering commitment to sustainability.

"This bond issuance is a direct result of our ongoing efforts to seamlessly integrate sustainability into our financial operations, a commitment exemplified by the introduction of our Green Financing Framework last year."

Mellander further elaborated that the capital raised will fuel research and development initiatives aimed at enhancing energy performance in both current and future solutions. This strategic approach is designed not only to strengthen the competitiveness of operators but also to facilitate broader societal climate action through innovative solutions enabled by mobile connectivity.

At the heart of this initiative lies Ericsson's Green Financing Framework, a mechanism that empowers the company to issue green bonds and other environmentally conscious financial instruments.

The proceeds from such initiatives are exclusively dedicated to investments in energy efficiency and renewable energy. Aligned with the 2021 ICMA Green Bond Principles (GBP), this framework received a second-party opinion from CICERO Shades of Green, a leading global provider of assessments in the realm of green and sustainable financing, now part of S&P Global since December 2022.

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Source: PR Newswire

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