ESG & Investing
Verizon Likes Investor Scrutiny on ESG Bonds as Green Sales Boom
- The largest mobile carrier has raised $5 billion in green debt
- The company’s latest issuance was six times oversubscribed
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Verizon Communications Inc., the second-biggest issuer in the US corporate investment-grade bond market, says investor scrutiny of environmental pledges is helping green bonds cement their dominance in the fragmented $6 trillion market for ethical debt.
Bond buyers are demanding more transparency and accountability from corporations selling debt linked to environmental, social and governance issues, according to Scott Krohn, senior vice president and treasurer of the largest US mobile carrier. Green bonds, whose proceeds finance specific projects, are the preferred label because investors can measure the impact of the bonds, he said.