Intel has allocated $425 million, or approximately 34%, of its inaugural $1.25 billion green bond proceeds. As highlighted in its first green bond impact report, the proceeds, which support Intel's investments in sustainable operations, have been allocated across five project categories: pollution prevention and control, water stewardship, energy efficiency, renewable energy, and circular economy and waste management.
(Photo : Intel Corporation)
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"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."
-David Zinsner, Intel chief financial officer
Why it Matters:
Intel's green bond funds advancements in the company's environmental sustainability goals through projects that meet defined eligibility criteria. For instance, proceeds have been allocated to support Intel's water reclamation facilities, which allow the company to treat and reuse water in facility systems and conserve water within its manufacturing operations. Proceeds have also been allocated to limit greenhouse gas (GHG) emissions through investments in point-of-use abatement systems. The projects are estimated to have reduced Intel's 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. The projects are expected to continue to have an impact in the years to come.
These investments support Intel's long-term sustainability commitments, which include 100% renewable electricity across its 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. At the end of 2022, Intel achieved 93% renewable electricity usage globally, net positive water in the U.S. and India, and sent 6.4% of its waste to landfills.
What's Next:
Intel will publish an updated Green Bond Impact Report in 2024 to further outline related sustainability investments.
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