San Francisco, NFAPost: Intel 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 chief financial officer David Zinsner said Intel’s first-ever green bond aligns the company’s 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,” said Intel chief financial officer David Zinsner.
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.”
Intel’s continuing commitment to corporate responsibility is embedded in its purpose, which is to create world-changing technology that improves the lives of every person on Earth. The company recently announced a commitment to net-zero greenhouse gas emissions across global operations by 2040. This commitment builds on Intel’s 2030 RISE strategy, which is detailed in the 2021-2022 Corporate Social Responsibility Report.
Intel will publish an annual green bond impact report beginning in 2023 to provide an update on the allocation of the net proceeds of the green bond offering for the period specified in the terms of the green bonds.
