Commercial, Finance, Sourcing Renewables - July 1, 2021
Salesforce Issues First Sustainability Bond for $1 Billion
Salesforce issued its first Sustainability Bond offering at a total of $1 billion, the proceeds of which will finance or refinance one or more projects from its environmental strategy.
The bond was issued as part of an $8 billion underwritten public offering of senior notes. The eligible “green” projects that the proceeds could be used for include Technology for Climate Action, Green Buildings, Renewable Energy, Pollution Prevention & Control, Nature-Based Solutions and Sustainable Water Management.
The implementation of such projects will help the company in its pursuit of a 50% reduction in Scope 1 and 2 emissions between 2018 and 2030 and procurement of 100% renewable energy by 2022.
The company also has committed and verified targets to reduce absolute Scope 3 GHG emissions from fuel and energy-related activities by 50% by 2030 from a 2018 base year.
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