Finance, Sourcing Renewables - February 28, 2022
Amgen Issues Green Bond
Amgen announced the issuance of its inaugural $750 million green bond to advance the environmental goals that are part of the company's framework.
The green bond is part of a $4 billion underwritten public offering of senior notes that were issued on February 22, 2022, and the use of proceeds from the green bond is aligned with the company's Green Financing Framework.
Amgen announced plans to achieve carbon neutrality in its operations by 2027, while further reducing water use by 40% and waste disposed of by 75%.
The proceeds of the bond will be used for one or more new or existing eligible projects in the following categories: green buildings, eco-efficient operations and processes, eco-efficient products, renewable energy, and clean transportation. For each Amgen Green Financing, Amgen will publish an annual allocation report until full allocation of the proceeds and may publish an update of any such report in the event of any material changes, until the relevant maturity date.
Beginning in 2007, Amgen implemented environmentally focused projects resulting in a 33% reduction in carbon emissions, a 30% reduction in water use, and a 28% reduction in waste disposed. These reductions were achieved even as the company increased production capacity, expanded its presence to approximately 100 countries, and grew revenues significantly. In January 2021,
"As a science-based company, we understand the profound impact that climate change is having on human health around the world," said Judy Brown, senior vice president, Corporate Affairs at Amgen in a statement. "This green bond will fund specific projects across our company that are intended to mitigate our impact on the environment."
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