US telecommunications company Verizon has announced a $1bn green bond to support sustainability initiatives.

The 10-year green bonds are expected to help the company support investments in renewables and energy efficiency projects, including its plan to source half of its annual electricity usage from renewables by 2025.

It has also been speculated that the bond could help underwrite investment in its 5G network whilst adhering to sustainable principles.

Verizon’s use green funding follows other technology and telecoms companies, including Apple ($2.5bn) in green bonds and Spanish communications giant Telefónica ($1.1bn in 2019).

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