Verizon is one of the largest corporate green bond issuers in the U.S. Our green bond program is instrumental to our efforts to meet our net-zero and renewable energy goals. Since 2019, Verizon has issued three green bonds totaling approximately $3 billion, the net proceeds of which have been allocated primarily to finance, in whole or in part, VPPAs for new renewable energy projects.
February: Verizon becomes the first U.S. Telecom to issue a green bond raising nearly $1 billion in net proceeds.
February: Verizon releases its first green bond allocation report. July: Verizon fully allocates the net proceeds of the first green bond. September: Verizon publishes its Green Financing Framework. Verizon issues its second green bond, raising nearly $1 billion in net proceeds.
January: Verizon announces that its portfolio of VPPAs covers approximately 1.7 GW of renewable energy capacity. July: Verizon fully allocates the net proceeds of the second green bond entirely to VPPAs for new renewable energy projects. August: Verizon amends Green Financing Framework to align with the 2021 ICMA Green Bond Principles and include diversity-focused underwriter selection criteria. September: Verizon issues its third green bond, raising nearly $1 billion in net proceeds.
January: Verizon announces that its portfolio of VPPAs covers approximately 2.6 GW of renewable energy capacity. February: Verizon fully allocates the net proceeds of the third green bond entirely to VPPAs for new renewable energy projects.
You can find more information about the cumulative allocations and impacts of our green bond program in the Appendix.