BENTONVILLE, Ark. (KNWA/KFTA) — Walmart announced September 8 that it has successfully priced the company’s first green bond.
According to a news release from the retailer, net proceeds from the $2 billion green bond offering will be used to fund existing and future projects that allow Walmart to achieve its sustainability goals.
The release says over the next few years, Walmart intends to allocate an amount equal to the net proceeds of the $2 billion offering toward a portfolio of Eligible Green Investments that meet certain eligibility criteria within the areas of renewable energy, high performance buildings, sustainable transport, zero waste and circular economy, water stewardship, and habitat restoration and conservation.
Walmart says it will issue a public report with information on allocation to and estimated impact of the Eligible Green Investments on an annual basis until an amount equal to the net proceeds of the green bond has been allocated.
The company says an outside consultant with recognized expertise in environmental, social and governance research and analysis has issued, and made publicly available, a second party opinion in respect of the alignment of eligibility criteria of the type described above with the Green Bond Principles, and the company’s external auditor EY will provide an assurance report on each allocation report.
The green bond is part of $7 billion of new senior unsecured notes that the company successfully priced across 5-, 7-, 10-, 20- and 30-year tranches.