Commercial, Finance - February 10, 2023
Comcast Issues $1 Billion Green Bond to Fund Clean Energy Projects
Comcast announced the issuance of a $1 billion 10-year green bond that is part of its goal to be carbon neutral by 2035.
Proceeds from the green bond may be allocated to five investment areas, all of which contribute to Comcast's efforts to reduce its carbon footprint, including renewable energy, energy efficiency, green buildings, campuses, communities and cities, clean transportation, and circular economy adapted products, production technologies, and processes.
Comcast’s Green Financing Framework provides details on eligible green investments in these categories, in addition to the processes for project selection and progress reporting.
"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,” said Sara Cronenwett, Senior Vice President of Corporate Strategy and Environmental Sustainability at Comcast in a statement. “These investments bring great value to the broader community of Comcast shareholders, employees, and customers by helping to foster a cleaner, healthier environment.”
As part of its goal to be carbon neutral by 2035, Comcast’s environmental efforts have included:
- Reducing Scope 1 and 2 emissions 31% since 2019.
- More than doubling the use of renewable electricity from 2020 to 2021.
- Decreasing Comcast Cable’s energy per consumed terabyte nearly 30% from 2019 to 2021.
- Piloting electric and hybrid vehicles in select locations, including debuting the first four electric trams in the Universal Studios Hollywood fleet.
- Increasing the number of green buildings it owns or occupies, including the LEED Platinum Comcast Technology Center.
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