American Express Issues Inaugural $1 Billion ESG Bond
May 04 2022 - 10:42AM
Business Wire
American Express Company (NYSE: AXP) today announced the
settlement of the company’s first Environmental, Social, and
Governance (ESG) Bond on Tuesday, May 3. The use of the net
proceeds of the $1 billion bond may be allocated toward sustainable
financing projects in the Green and Social categories as directed
by the newly developed American Express Sustainable Financing
Framework, which is aligned with the company’s global ESG
strategy.
Projects in the Green category include those related to green
buildings, energy efficiency improvements and renewable energy, and
the circular economy, which includes responsible production
projects like the company’s goal of having the vast majority of the
cards it issues made of at least 70% recycled or reclaimed plastic
by the end of 2024. Social projects are comprised of initiatives
connected to socioeconomic advancement and empowerment, access to
essential services, and affordable housing. All net proceeds from
the sustainable financing are expected to be fully allocated to
eligible projects within two years of the date of issuance.
The company’s Sustainable Financing Framework will guide its
Green, Social, and Sustainability financing transactions. Developed
in alignment with the International Capital Markets Association
(ICMA) Green Bond Principles 2021, the ICMA Social Bond Principles
2021, and the ICMA Sustainability Bond Guidelines 2021, the
framework outlines the use of proceeds, process for project
evaluation and selection, management of proceeds, and reporting in
connection with Green, Social, and Sustainability financing
transactions. The framework has been independently evaluated by
Moody’s ESG Solutions.
American Express’ ESG Strategy American Express’ ESG
strategy aims to mobilize its business to address pressing global
challenges; help people and businesses thrive; and create
equitable, resilient, and sustainable communities. The strategy
comprises three pillars: Promote Diversity, Equity, and Inclusion
(DE&I); Build Financial Confidence; and Advance Climate
Solutions.
To guide the strategy, American Express set initial goals to
include a $1 billion DE&I Action Plan, a commitment to net zero
carbon emissions by 2035, and to maintain strong support for small
businesses, including by reaching $100 billion in spending by
consumers at small, independently-owned retailers or restaurants on
Small Business Saturday and during other Shop Small campaigns from
2021 to 2025. More information on American Express’ ESG strategy
and goals can be found in its most recent ESG Report.
Learn more about American Express’ approach to corporate
sustainability and ESG here.
ABOUT AMERICAN EXPRESS
American Express is a globally integrated payments company,
providing customers with access to products, insights and
experiences that enrich lives and build business success. Learn
more at americanexpress.com and connect with us on
facebook.com/americanexpress, instagram.com/americanexpress,
linkedin.com/company/american-express, twitter.com/americanexpress,
and youtube.com/americanexpress.
Key links to products, services and corporate responsibility
information: personal cards, business cards, travel services, gift
cards, prepaid cards, merchant services, Accertify, Kabbage, Resy,
corporate card, business travel, diversity and inclusion, corporate
responsibility and Environmental, Social, and Governance
reports.
Source: American Express Company
Location: Global
Cautionary Note Regarding Forward-Looking Statements
This release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that are subject to risks and uncertainties. The forward-looking
statements contain words such as “expect,” “anticipate,” “intend,”
“plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,”
“commit,” “continue,” or other similar expressions. Actual results
may differ from those set forth in the forward-looking statements
due to a variety of factors, including those found in the company’s
Annual Report on Form 10-K for the year ended December 31, 2021,
the company’s Quarterly Report on Form 10-Q for the quarter ended
March 31, 2022 and the company’s other filings with the U.S.
Securities and Exchange Commission. You are cautioned not to place
undue reliance on these forward-looking statements, which speak
only as of the date on which they are made. We undertake no
obligation to update or revise any forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220504005816/en/
Media: Andrew R. Johnson, Andrew.R.Johnson@aexp.com,
+1.212.640.8610 Azar Boehm, Azar.Boehm@aexp.com,
+1.212.225.4052
Investors/Analysts: Vivian Y. Zhou,
Vivian.Y.Zhou@aexp.com, +1.212.640.5574 Michelle A. Scianni,
Michelle.A.Scianni@aexp.com, 212-640-5574
American Express (NYSE:AXP)
Historical Stock Chart
From Mar 2024 to Apr 2024
American Express (NYSE:AXP)
Historical Stock Chart
From Apr 2023 to Apr 2024