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Norfolk Southern issues $500 million of green bonds to fund sustainable business initiatives
First major North American railroad to launch green bond funding
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NORFOLK, Va., May 12, 2021 /PRNewswire/ Norfolk Southern Corporation (NYSE: NSC) today closed a $500 million green bond offering to fund investments to reduce the company s carbon emissions and help customers reduce their supply-chain emissions. Norfolk Southern is the first Class I railroad in North America to issue green bonds.
Norfolk Southern last month committed to establish a science-based target to lower its carbon emissions in accordance with the Paris Agreement on climate change. Today s announcement is an important step in the company s plans to reach that goal.