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Verizon Issues Green Bond Impact Report Confirms Full Allocation Of $1B

By John F. Heerdink, Jr.

Reportedly, Verizon Communications, Inc. (VZ) released its Green Bond Impact Report stating the full allocation of $1 billion of net proceeds from its second green bond. Verizon is the only U.S. telecommunications company to complete the full allocation of two green bonds. In February 2019, it became the first U.S. telecom company to issue a green bond, followed by a second one in September 2020.

Matt Ellis, Verizon’s executive vice president, and the chief financial officer stated, “To date, we have issued $2 billion in green bonds that support the transition to a greener grid and help us achieve our ambitious goal of net zero emissions in our operations by 2035. Verizon’s green bond projects demonstrate our long-term commitment to minimize our environmental impact, drive operating efficiencies and benefit the communities we serve.”

The company allocated the net proceeds of its second green bond entirely to virtual power purchase agreements for renewable energy projects for approximately 1 gigawatt (GW) of new renewable energy generating capacity across seven states with 83 percent in solar energy generating capacity and 17 percent is wind energy generating capacity.

Verizon Communications, Inc. (VZ) is a worldwide leader in delivering communications and technology solutions that improve the lives of its customers. To learn more about Verizon Communications, Inc. (VZ), and to track its progress please visit the Vista Partners Verizon Communications Inc. Coverage Page.

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(Read Original Story: Verizon completes final allocation of its second $1 billion green bond in GlobeNewswire)


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