Visa has enhanced its commitment to sustainability by launching its inaugural green bond, raising $500 million. In conjunction with this initiative, the company has appointed Douglas Sabo as its first Chief Sustainability Officer.
The green bond, which offers a semi-annual interest rate of 0.75%, is set to mature on August 15, 2027. The funds generated from this bond will finance various projects, including building upgrades, energy efficiency enhancements, increased reliance on renewable energy, water conservation initiatives, employee commuting programs, and research aimed at promoting sustainable consumer practices.
Furthermore, these proceeds will support investments in projects designed to inspire sustainable living and align with the UN Sustainable Development Goals. Sabo, a seasoned Visa executive with over 12 years of experience, stated, “Through our green bond offering and our initiatives that promote inclusive economic growth, we are dedicated to ensuring that both people and the planet can thrive together.”