Micron Technology, Inc. (Nasdaq: MU), today announced the release of its Green Bond Framework, supported by a second-party opinion from Sustainalytics, a Morningstar Company and globally recognized provider of ESG research, rating and data.
“A Green Bond Framework reflects Micron’s broader commitment to sustainability as we embrace green financing as a principal funding strategy,” said David Zinsner, Chief Financial Officer at Micron. “The framework announced today is a testament to how environmental sustainability and good business practices together can drive positive outcomes for Micron, investors and the planet.”
The framework provides information about the types of projects that are eligible for financing or refinancing with the use of any potential green bond proceeds and is in alignment with the four core pillars of the Green Bond Principles, 2021. Eligible projects support Micron’s sustainability commitments, and focus on renewable energy, green buildings, energy efficiency, sustainable water and wastewater management, pollution prevention and control, and circular economy adapted products and production technologies. Micron will issue a green bond report annually regarding the allocation of proceeds as well as expected impact metrics, where feasible.
Micron’s Green Bond Framework aligns with, and builds on, Micron’s actionable sustainability strategy and efforts, which include the company’s previously announced commitment to spend $1 billion by 2028 to reduce greenhouse gas emission intensity by 75% between 2018-2030, achieve 75% water conservation and 95% waste diversion globally in 2030 and source 100% renewable energy across its U.S. manufacturing operations by the end of 2025.
The release of its Green Bond Framework reflects Micron’s leadership in sustainable financing, and follows the company’s recent close of approximately $3.7 billion sustainability-linked credit facilities in May 2021, which positioned the company as one of the largest corporate sustainability-linked credit facility borrowers in the U.S. Crédit Agricole Corporate and Investment Bank (CIB) served as the sustainability structuring agent for the credit facilities and assisted in the development of the framework.
