Kellogg Company has announced it has successfully priced a €300 million (£258m), eight-year sustainability bond, a first for the global food company.
It is in line with Kellogg’s newly-introduced Sustainability Bond Framework, which facilitates the company’s use of sustainable capital markets to finance or refinance eligible projects that align with its commitments.
The net proceeds from the sustainability bond will support issues around climate resiliency, wellbeing and hunger relief, following Kellogg’s commitment to help create ‘Better Days’ for three billion people and the planet by 2030.
An amount equal to the net proceeds will be used to finance or refinance projects within one or more of these categories: food security and sustainable food systems, renewable energy, energy efficiency, circular economy, environmentally sustainable management of living natural resources and land use, green buildings and sustainable water and waste management.
Steve Cahillane, Kellogg’s Chairman and Chief Executive Officer said: “Kellogg has always been a purpose-driven organisation – it’s in our DNA. Our founder, W.K. Kellogg, was an early conservationist, a leading philanthropist and an original wellbeing visionary. With this legacy, we’ve inherited his commitment.”