Energy Efficiency, GHG Emissions, Industrial - November 27, 2024
Equinix Expands Initiatives with Green Bonds
Equinix, Inc., a digital infrastructure company, announced that it has issued an additional €1.15 billion in green bonds.
This builds on more than $750 million offerings in green bonds that Equinix completed in September 2024. With these latest issuances, Equinix will have issued a total of approximately $6.9 billion of green bonds, making it a top five issuer of green bonds in the U.S.
Equinix will utilize the green bonds to further its sustainability initiatives and enhance the operational efficiency of its global business.
"We view green finance as an integral part of our sustainability strategy at Equinix," said Katrina Rymill, SVP Corporate Finance & Sustainability, Equinix, in a statement. "Our green bonds demonstrate Equinix's continued commitment to design, build and deliver the most reliable, secure and sustainable data center and digital infrastructure possible in order to benefit our customers, our investors, and the communities in which we operate."
The data center company intends to allocate an amount equal to the net proceeds from the green bonds to finance or refinance, in whole or in part, recently completed or future eligible green projects. Equinix's allocation strategy includes covering project expenditures up to two years before the issuance of the green bonds and three years following the green bond issuance. These projects, which form the backbone of the company's sustainability mission, span a wide range of impactful categories, from green building development and renewable energy innovations to advanced energy efficiency, resource conservation and cutting-edge decarbonization solutions.
Equinix has continued to invest in new and innovative technologies in energy efficiency, renewable energy and heat export projects globally. In 2023, the company maintained 96% renewable energy coverage across its portfolio. It also remains focused on improving the energy efficiency of its facilities as measured by power usage effectiveness (PUE), which improved 8%+ compared to the prior year.
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