Walmart Inc. of Bentonville announced Thursday that it has closed its previously announced $2 billion inaugural green bond offering.
Net proceeds will fund current and prospective projects that will help the company achieve sustainability goals that include operating on 100% renewable energy by 2035 and zero emissions by 2040.
“Becoming a regenerative company is a journey. This green bond signals that we continue to make headway,” said Kathleen McLaughlin, executive vice president and chief sustainability officer, in a news release. “We remain steadfast in our commitment to addressing climate change, transitioning to a circular economy and restoring natural ecosystems, all while supporting the communities in which we operate.”
Specifically, Walmart said it would allocate an equal amount to:
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Renewable energy projects, including infrastructure such as micro grids and energy storage to reduce emissions and transition away from fossil fuel use.
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High performance buildings projects related to making Walmart’s facilities more energy efficient.
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Sustainable transport projects related to Walmart’s operations, supply chain or customers, such as electric, hydrogen and hybrid vehicles.
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Zero waste and circular economy projects focused on waste prevention, waste reduction, and waste recycling for Walmart’s facilities, supply chain and in the communities where Walmart operates.
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Quality and efficient water stewardship projects and technologies.
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Habitat restoration and conservation.
In addition, Walmart touted several nationally recognized minority- and women-owned investment banking firms worked on the green bond offering.
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