Amazon Issues $1 Billion Sustainability Bond
(Photo Credit: Amazon)
Amazon has announced the issuance of a $1 billion sustainability bond. The proceeds will be used to fund projects in five areas, building on significant investments Amazon has made over the years: renewable energy, clean transportation, sustainable buildings, affordable housing, and socioeconomic advancement and empowerment.
This is part of Amazon’s new Sustainable Bond Framework, which details how the company investing to drive a positive impact on society and to help advance new technologies that decarbonize and preserve the natural world. At Amazon, we are committed to using our scale for good. Amazon continues to stimulate investment in the development of green technologies and low carbon products and services that will enable companies of all sizes to decarbonize their operations.
Global green bond issuance reached a record high of $270 billion at the end of 2020
Reuters
May 11, 2021
Photovoltaic panels stand in front of the Amazon distribution centre in Bad Hersfeld September 22, 2014. PHOTO: REUTERS
Amazon issued its first sustainability bond on Monday, raising $1 billion to invest in renewable energy, clean transport, greener buildings, and affordable housing.
The world s biggest company joins a growing list of debt issuers tapping the market for green and sustainable bonds, which is swelling as asset managers come under pressure from their investors to advance environmental, social and governance (ESG) causes.
Global green bond issuance reached a record high of $270 billion at the end of 2020 and could reach $450 billion this year, according to Climate Bonds Initiative.
record
$554.3bn, according to Refinitiv data.
Demand surged in every quarter last year, from less than $70bn in the first three months to $180bn in the October-December period. It marked the highest quarterly total since records began in 2015.
Amazon s new bond is part of its Sustainable Bond Framework, which aims to advance new technology
that “decarbonises and preserves the natural world”, the company said.
However, the money raised through the sustainability bond is only 5.4 per cent of $18.5bn of debt the company issued on Monday, according to the
Financial Times and Bloomberg.
The company took advantage of the low interest rate environment and raised the debt through bonds of eight different maturities, ranging from two to 40 years, according to the reports.
Amazon raises $1 billion sustainable bond for climate, social causes Reuters 6 days ago Money to be spent on existing commitments, new projects
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By Kate Duguid and Simon Jessop
NEW YORK/LONDON, May 10 (Reuters) - Amazon.com Inc issued its first sustainability bond on Monday, raising $1 billion to invest in renewable energy, clean transport, greener buildings and affordable housing.
The world s biggest company joins a growing list of debt issuers tapping the market for green and sustainable bonds, which is swelling as asset managers come under pressure from their investors to advance environmental, social and governance (ESG) causes.
NEWPORT BEACH, Calif. – April 19, 2021 – Days after officially introducing the company’s Sustainable Bond Framework , Pacific Life announced today it has completed an inaugural $800 million Sustainability Bond offering through the Capital Markets Group of its Institutional Division. The Sustainability Bonds were offered in the form of funding agreement-backed notes and drew the interest of over 70 investors, with more than half of the order book going specifically to environmental, social and governance (ESG)-focused investment accounts. “This issuance is an opportunity to expand the breadth and depth of our sustainable activities,” said Joe Krum, vice president and managing director, Institutional Capital Markets Group at Pacific Life. “Perhaps, more importantly, it’s a declaration of Pacific Life’s intention to be a key ESG thought leader and to engage investors based on our shared values and aspirational goals.”