Verizon raises $1 billion "Green Bond"

Verizon Communications has closed a $1 billion "Green Bond" to fund a variety of new and existing green investments. The company expects to allocate a majority of the funds within three years to support its long-term commitment to minimize its environmental impact, drive operating efficiencies and benefit the communities it serves.

Investments will focus on renewable energy, energy efficiency, green buildings, sustainable water management, and biodiversity and conservation,

“Verizon is committed to reducing the environmental impact of its operations, and this funding will support those efforts,” said Chief Sustainability Officer Jim Gowen. “As good corporate citizens, we have made it a priority to deploy more green energy resources, such as solar and fuel cell technology, into our facilities.”

Verizon launched its first formal sustainability program in 2009. The company has committed to source renewable energy equivalent to 50 percent of its total electricity usage by 2025.