Equinix, the world’s digital infrastructure company has announced the full allocation of $4.9 billion in investment-grade green bonds to advance its progress toward its near-term science-based target to become climate neutral by 2030 and improve the operational eco-efficiency of its business.
Over the last five years, the bond offerings supported 172 green building projects across 105 sites, 33 energy efficiency projects, and two Power Purchase Agreement (PPA) projects. The PPAs support 225 megawatts of renewable energy capacity which are expected to mitigate or avoid 383,300 metric tons of CO2e annually—the equivalent to emissions from more than 85,296 gasoline-powered passenger vehicles driven for one year.
Equinix has developed a Green Finance Framework based on the Green Bond Principles and Green Loan Principles, a set of guidelines that promote transparency and integrity in, and advance the standardisation of, green debt disclosures. The Framework aims to increase Equinix’s focus on protecting the environment and addressing global climate change through greenhouse gas emissions reductions, increasing resource efficiency, and driving corporate transparency and accountability.
In line with the International Capital Market Association’s Green Bond Principles (GBP) 2018 and the Loan Syndications and Trading Association’s Green Loan Principles (GLP) 2020, Equinix is allocating 100% of the Green Financing net proceeds to a portfolio of Eligible Green Projects which showcase how Equinix is building and operating sustainably, including Green Buildings; Renewable Energy; Energy Efficiency; Sustainable Water and Wastewater Management; Waste Management; and Clean Transportation.
“Equinix considers green bonds a valuable tool to raise capital and finance large projects that can increase the sustainability of our business. Our green bonds demonstrate Equinix’s continued commitment to design, build and deliver the most reliable, secure and sustainable data centre and digital infrastructure possible in order to benefit our customers, the communities in which we operate, our investors, and the planet,” said Katrina Rymill, SVP Corporate Finance & Sustainability, Equinix. “Through the allocation of our green bonds, we continue to be able to directly align our financing needs with our sustainability strategy.”