Intel has announced that during its first year, it has invested $425 million of the inaugural $1.25 billion it raised from issuing green bonds. It said the projects it has invested in so far have reduced its greenhouse gas (GHG) emissions by 5.3 million metric tons, saved 4.5 billion gallons of water, and diverted 56,000 tons of waste from landfills in 2021 and 2022.
According to the company, 34% of the proceeds that it has spent have been allocated to funds that cover five project categories: pollution prevention and control, water stewardship, energy efficiency, renewable energy, and circular economy and waste management. This will help the company reach its sustainability goals.
Commenting on the funding, David Zinsner, Intel’s chief financial officer, said:
‘Intel’s first-ever green bond is an important way to advance our corporate responsibility efforts. Through these investments, we have made significant progress in reducing greenhouse gas emissions, conserving energy, reducing water use and managing our waste streams.’
‘As a long-standing leader in sustainable computing, we are minimizing our impact on the planet while delivering value to our customers, communities, employees and shareholders. We will continue to find innovative ways to drive responsible business practices as we enable the global semiconductor supply chain.’
Intel said that the investments it makes with the proceeds from the green bonds will help it to reach its commitments which include using 100% renewable energy for global operations, net positive water, and zero waste to landfills by 2030; net-zero GHG emissions across global operations by 2040; and net-zero upstream GHG emissions by 2050.
As of 2022, the company said that it used 93% renewable electricity globally, achieved net positive water in the US and India, and sent 6.4% of its waste to landfills.
The company said it will provide a new Green Bond Impact Report in 2024 with further updates and progress. You can find this year’s report here.
Source: Intel