Feb 20, 2023 | Posted by MadalineDunn
Comcast has announced the issuance of a $1 billion 10-year green bond, proceeds from which will be allocated to five investment areas to drive the company’s clean energy infrastructure projects. The company has outlined that through this, it aims to encourage investors to support environmental initiatives. This aligns with its broader sustainability goal to become carbon-neutral by 2035.
The five investment areas Comcast has outlined include:
- Renewable energy,
- Energy efficiency,
- Green buildings, campuses, communities and cities,
- Clean transportation, and
- Circular economy-adapted products, production technologies, and processes.
Speaking about this, Sara Cronenwett, Comcast's Senior Vice President of corporate strategy and environmental sustainability."We’re excited to have offered investors the opportunity to join us as we scale clean energy technologies and other decarbonization strategies across our business."
The green bond was reportedly led by BofA Securities, Inc., the sole Green Structuring Agent, an Active Bookrunner, and a Coordinator for the minority- and women-owned broker-dealers on the transaction. Commenting on this, Jason Armstrong, Chief Financial Officer and Treasurer for Comcast Corporation, said: “We’re pleased that our inaugural green bond offering was largely led and underwritten by four nationally recognized minority-, women-, and service-disabled veteran-owned investment banking firms with whom Comcast has a strong historical relationship."
