Thursday 6 August 2020

Google’s parent company unveils $5.75bn green bond

Google's parent company has issued green bonds totalling $5.75 billion (£4.4bn).

Alphabet says they will support environmental and social initiatives and claims the issuance is the largest sustainability or green bond issued by any company.

The bond issuance will help raise finance for a range of projects, including those related to energy efficiency, clean energy, green buildings, clean transportation, circular economy and design, affordable housing, commitment to racial equity as well as support for small business and COVID-19 response.

Ruth Porat, Alphabet and Google CFO said: “The proceeds from these sustainability bonds will fund ongoing and new projects that are environmentally or socially responsible and enable investors to join us in tackling critical issues.

“We believe that these investments benefit our communities, employees and stakeholders, and are an important part of fulfilling Google’s mission and goal of creating value over the long term.”