Intel has invested more than £328 m of its green bond funding into areas including pollution prevention and control, water stewardship, energy efficiency and renewable energy.
In total this amounts to around 34% of its £984 m total green bond proceeds; Intel estimates that so far the projects have reduced its greenhouse gas emissions by 5.3 million metric tonnes and saved 4.5 billion gallons of water.
A green bond is a type of fixed income instrument with funds that are set aside specifically for environmental projects and initiatives. Other tech brands to have green bonds or similar forms of sustainable investment include Apple, Samsung and Micron Technology.
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The investments support Intel’s long term sustainability goals which include 100% renewable energy across its global operations and net zero greenhouse gas emissions across global operations by 2040.
At the end of 2022, the computer giant reported 93% usage of renewable electricity globally, as well as net positive water usage in India and said it sent 6.4% of its waste to landfills.
It will publish an updated Green Bond Impact Report in 2024 where it will outline similar sustainability investments.
“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,” said Intel chief financial officer David Zinsner.
“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,” he continued.
