Biotechnology company Amgen announced today the issuance of its inaugural $750 million green bond, with proceeds aimed at financing environmental impact mitigation projects in areas including renewable energy and green transportation. The bond has a 3.000% semi-annual coupon and matures in 2029.
The issuance follows the launch last year by Amgen of a seven-year environmental sustainability plan, with goals including reaching carbon neutrality and reducing water use by 40%, and waste disposal by 75% by 2027, along with plans for investments in innovative technologies to significantly reduce carbon emissions from company-owned operations, and on sourcing renewable energy.
The new bond was issued under Amgen’s recently published Green Financing Framework, which sets out eligible areas of investment for proceeds from green bond issues, as well as the process for project evaluation and selection and reporting obligations. Eligible projects under the framework include green buildings, eco-efficient operations and processes, eco-efficient products, renewable energy, and clean transportation.
Judy Brown, Senior Vice President, Corporate Affairs at Amgen, said:
“As a science-based company, we understand the profound impact that climate change is having on human health around the world. This green bond will fund specific projects across our company that are intended to mitigate our impact on the environment.”