Walmart Closes USD 2 Billion Inaugural Green Bond Offering
Sep 24, 2021 By MarketDepth
Walmart Inc. (NYSE: WMT) has reported the close of its previously announced USD 2 Billion inaugural green bond offering. Proceeds will be distributed to fund current and future potential projects to push Walmart’s sustainability goals. “The closing of our first-ever green bond offering directs capital toward projects that will advance our environmental sustainability goals now and in the years to come. These goals include achieving 100% renewable energy by 2035 and zero emissions in our operations by 2040,” said Kathleen McLaughlin, Executive Vice President and Chief Sustainability Officer, Walmart. “Becoming a regenerative company is a journey. This green bond signals that we continue to make headway. We remain steadfast in our commitment to addressing climate change, transitioning to a circular economy and restoring natural ecosystems, all while supporting the communities in which we operate.” The company plans to allocate an amount equal to the net proceeds of the USD 2 Billion offering to a portfolio of Eligible Green Investments. Annually, Walmart will issue public reports with information of where the bond proceeds will be allocated to Eligible Green Investments.
“Walmart is committed to furthering our relationships with minority owned businesses, and we’re pleased that our inaugural green offering included the work of four nationally recognized minority- and women-owned investment banking firms. Their support is helping to drive both financial and sustainable benefits that we believe will drive positive societal and total shareholder returns.”Brett Biggs, Executive Vice President and Chief Financial Officer, Walmart