Visa Expands Commitment to Sustainability Through Inaugural $500 Million Green Bond Issuance & Appointment of Chief Sustainab...
August 11 2020 - 7:00AM
Business Wire
Visa (NYSE: V), a leading global payments technology company,
today announced that yesterday it successfully priced its inaugural
green bond offering, totaling $500 million, paying a semi-annual
coupon of 0.75% and maturing August 15, 2027. The green bond,
believed to be the first issued by a digital payments network, will
be used to help advance the company’s commitment to environmental
sustainability and a sustainable payments ecosystem. In support of
that commitment and in addition to its inaugural green bond, Visa
is also announcing the appointment of its first chief
sustainability officer, Douglas Sabo.
“At Visa, we see a responsibility and an opportunity to use the
power of our network to drive broad shifts toward a sustainable
future,” said Al Kelly, chairman and chief executive officer of
Visa Inc. “Our green bond offering will help us accelerate the
transformation of our infrastructure and operations to reach our
environmental goals. This commitment extends to appointing Visa’s
first chief sustainability officer, tasked with ensuring we
continue to take bold and industry-leading actions on the
environment.”
As outlined in the Visa Green Bond Framework, the proceeds of
the green bond will be used to fund projects including upgrades to
buildings, energy efficiency improvements, expanded usage of
renewable energy sources, water efficiency projects, employee
commuter programs, and research and initiatives focused on
sustainable consumer behaviors. The proceeds also will support
investments in projects to inspire and foster sustainable living in
support of the United Nations Sustainable Development Goals. These
projects build on Visa’s sustainability leadership, including its
transition to 100 percent renewable electricity across its
operations achieved at the start of 2020.
“As the world continues to address the urgency of climate change
and other environmental challenges, we are embracing our
opportunity to play a leading role in building a more sustainable
world,” said Douglas Sabo, Visa’s newly appointed chief
sustainability officer. “Through our green bond offering and
together with our initiatives driving inclusive economic growth, we
are working to ensure people and planet both can thrive
together.”
Visa will issue an annual report on the use of proceeds from the
green bond and their environmental impact. Sustainalytics, a
leading global provider of ESG research, ratings and data, provided
the second-party opinion on the environmental benefits of Visa’s
Green Bond Framework as well as its alignment with the Green Bond
Principles.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 that relate to, among other things, our sustainability goals,
current and future projects, and expectations regarding the use of
proceeds. Forward-looking statements generally are identified by
words such as “believes,” “estimates,” “expects,” “intends,” “may,”
“could,” “should,” “will,” “continue” and other similar
expressions. All statements other than statements of historical
fact could be forward-looking statements, which speak only as of
the date they are made, are not guarantees of future performance
and are subject to certain risks, uncertainties and other factors,
many of which are beyond our control and are difficult to predict.
We describe risks and uncertainties that could cause actual results
to differ materially from those expressed in, or implied by, any of
these forward-looking statements in our SEC filings, including our
Annual Report on Form 10-K for the year ended September 30, 2019
and our subsequent reports on Forms 10-Q and 8-K, which are
incorporated by reference herein. Except as required by law, we do
not intend to update or revise any forward-looking statements as a
result of new information, future events or otherwise.
About Visa Inc.
Visa is the world’s leader in digital payments. Our mission is
to connect the world through the most innovative, reliable and
secure payment network – enabling individuals, businesses and
economies to thrive. Our advanced global processing network,
VisaNet, provides secure and reliable payments around the world,
and is capable of handling more than 65,000 transaction messages a
second. The company’s relentless focus on innovation is a catalyst
for the rapid growth of connected commerce on any device. As the
world moves from analogue to digital, Visa is applying our brand,
products, people, network and scale to reshape the future of
commerce. For more information visit usa.visa.com/about-visa.html,
usa.visa.com/visa-everywhere/blog.html and @VisaNews.
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Lindy Mockovak lindy.mockovak@visa.com
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