Retail giant Walmart announced that it has launched its first green bond, successfully pricing its inaugural $2 billion offering, with proceeds aimed at funding projects enabling the company to reach its sustainability goals.

Walmart issued the bond as a part of $7 billion of new senior unsecured notes offerings. For the green bond issue, the company tapped several minority-and women-owned firms to serve as bookrunners, including AmeriVet Securities, Inc., C.L. King & Associates, Inc., Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC. BofA Securities, Citigroup and Morgan Stanley also served as bookrunners on the deal.

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According to Walmart, eligible categories of investment for the proceeds from the offering include renewable energy, high-performance buildings, sustainable transport, zero waste, and circular economy, water stewardship, and habitat restoration and conservation.

The green bond issue follows the establishment last year by Walmart of a series of sustainability targets, including goals to reach zero emissions across global operations by 2040 without the use of carbon offsets, along with commitments to protect land and oceans.