Commercial, GHG Emissions, Finance - March 1, 2021
Equinix launches €1.1B green bond for sustainability projects
Equinix announced Feb. 25 that it priced its second green bond offering for €1.1 billion to go toward advancing its sustainability initiatives and reducing its environmental impact.
The offering from the digital infrastructure company is expected to close on March 10. Equinix plans to allocate funds from the offering to finance or refinance its Eligible Green Projects, both completed and in the future. The financing of its 2026 Euro Senior Notes will result in €11.1 million in annual interest savings.
Equinix will report annually the use of the funds from the green bonds until the net proceeds have been fully allocated.
“Equinix is committed to accelerating our momentum and investment in greening our data center footprint, delivering wide-reaching environmental benefits for not only ourselves and our communities but also our global customers,” Keith Taylor, chief financial officer, said in a statement. “The Green Bond is one of the many tools we're using to advance our environmental sustainability initiatives and continue to make progress towards achieving our ambitious sustainability goals.”
Projects that fall under the Eligible Green Projects category include those completed in green buildings, renewable energy, energy efficiency, sustainable water, and wastewater management, waste management, and clean transportation. The company’s Green Finance Framework was established to increase Equinix’s focus on the environment and address issues of greenhouse gas emissions reductions, increasing resource efficiency, and driving corporate accountability.
Equinix recently announced its support of the new Climate Neutral Data Centre Operator Pact and Self-Regulatory Initiative, the first collective showing from the data center industry of solidarity in its commitment to ensure all European data centers are carbon neutral by 2030.