Verizon Secures Second $1B Green
August 30, 2021
Green Bond Impact Report, outlining the full
allocation of the nearly $1 billion of net proceeds from its second green bond.
Verizon became the first U.S. telecom company to issue a green bond back in
February 2019. In September 2020, the company issued its second green bond, and
remains the only U.S. telecommunications company to complete the full allocation
of two green bonds.
“To date, we have issued $2 billion in green bonds that support the transition
to a greener grid and help us achieve our ambitious goal of net zero emissions
in our operations by 2035,” said Matt Ellis, Verizon’s executive vice president
and chief financial officer. “Verizon’s green bond projects demonstrate our
long-term commitment to minimize our environmental impact, drive operating
efficiencies and benefit the communities we serve.”
has fully allocated the net proceeds of its second green bond entirely to
virtual power purchase agreements for renewable energy projects. These projects
are for approximately 1 gigawatt (GW) of new renewable energy generating
capacity across seven states, of which about 83 percent is solar energy
generating capacity and 17 percent is wind energy generating capacity.
The use of proceeds from the bond is part of Citizen Verizon, the company’s
responsible business plan for economic, environmental and social advancement.
The Green Bond Impact Report can be found on the company’s fixed income investor