Alphabet issues largest sustainability bond so far

Google owner Alphabet is making a $10bn debt offering, issuing $5.75bn in sustainability bonds, making this the largest sustainability or green bond by any company so far.

The company makes it clear that its sustainability bonds are distinct from green bonds (directed solely to environmental uses) in that the proceeds support investment in both environmental and social initiatives.

Consistent with the Green Bond Principles and the Social Bond Principles, eligible projects for use of proceeds are within eight areas that build on significant investments we have previously made and will not be allocated to any activities: Energy efficiency, clean energy, green buildings, clean transportation, circular economy and design, affordable housing, commitment to racial equity and support for small businesses and COVID-19 response.

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