Semiconductor major Intel announced the pricing of its inaugural green bond issuance, totaling $1.25 billion.
Intel will use the proceeds of the green bond offering to fund projects in six key areas that support its 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’s green bond 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,” David Zinsner, Intel chief financial officer, said.
Intel’s green financing framework details the eligible projects within each of the six key sustainability areas. The framework reinforces the company’s history of corporate responsibility and its commitment to creating a more responsible, inclusive and sustainable world.
Intel recently announced a commitment to net-zero greenhouse gas emissions across operations by 2040. Intel’s priority is to actively reduce its emissions, in line with international standards and climate science.
Intel has set the following interim milestones for 2030:
- Achieve 100% renewable electricity use across its global operations.
- Invest approximately $300 million in energy conservation at its facilities to achieve 4 billion cumulative kilowatt hours of energy savings.
- Build new factories and facilities to meet U.S. Green Building Council LEED program standards, including recently announced investments in the U.S., Europe and Asia.
- Launch a cross-industry R&D initiative to identify greener chemicals with lower global warming potential and to develop new abatement equipment.
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.