Intel has invested $425 million in green bonds to support its sustainability goals, including achieving net zero greenhouse gas (GHG) emissions across global operations by 2040.
Green bonds are a type of fixed-income security that companies issue to raise money for projects that benefit the environment or society. Investors who buy bonds receive a fixed interest rate and will be paid back the principal amount of the bond at the end of the term. The company will then use the proceeds from the bond to finance the green projects that are outlined in the green bond framework.
Intel’s $425 million investment accounts for approximately 34% of its inaugural $1.25 billion green bond proceeds. The proceeds have been allocated across five project categories:
- Circular economy and waste management ($21 million)
- Renewable energy ($39 million)
- Energy efficiency ($51 million)
- Water stewardship ($99 million)
- Pollution prevention and control ($215 million)
These investments will help Intel to reduce its environmental impact across its entire value chain. For example, the installation of energy-efficient lighting and appliances in its facilities, developing new recycling and waste management programs, sourcing renewable energy for its operations, and protecting.
“Intel’s first-ever green bond is an important way to advance our corporate responsibility efforts,” said David Zinsner, Intel chief financial officer. “Through these investments, we have made significant progress in reducing greenhouse gas emissions, conserving energy, reducing water use and managing our waste streams.”
Intel has set ambitious goals for reducing its greenhouse gas emissions. The company aims to reduce its absolute Scope 1 and 2 GHG emissions by 10% from 2020 to 2030, and reach net zero Scope 1 and 2 GHG emissions across its global operations by 2040. Intel has also set a target to reduce Scope 3 GHG supply chain emissions by 30% from what they would be without action.
In April, Intel updated its progress toward achieving net zero emissions worldwide by 2040. It shared the news that the computing giant has increased its global renewable electricity usage to 91% in 2022, up from 80% in 2021, and has added 14 new solar installations on its campuses in the past three years, bringing its global portfolio of on-site solar installations to 30 megawatts.
You can read Intel’s latest sustainability report here.
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