Orange issued its first sustainability bond for €500 million, seeking to finance projects aimed at driving digital and social inclusion, and combatting climate change.
In a statement, the group said the move would allow it to expand its investor base and optimise its funding structure, as the issue “was met with great success” from socially responsible investing (SRI) entities.
The larger pile of the raised funds (60 per cent) will be allocated to projects for energy efficiency and a circular economy. The rest will be put into plans for digital and social inclusion.
Orange delegate CEO Ramon Fernandez noted the company felt it was “necessary to drive our business with the objective to contribute to a more sustainable and fair world”, as the Covid-19 (coronavirus) crisis emphasised “the essential nature of telecommunications”.
The operator group stated the bond issuance was in line with its Engage 2025 strategy which Orange CEO Stephane Richard previously claimed needed social and environmental policies [1] following the outbreak.
[1] https://www.mobileworldlive.com/featured-content/home-banner/orange-backs-green-goals-in-light-of-epidemic
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