BUSINESS BRIEF: Wilmington’s Analog Devices Completes Allocation Of Semiconductor Industry’s First Green Bond

Below is a press release from Analog Devices, which is headquartered in Wilmington:

WILMINGTON, MA — Analog Devices, Inc. recently published its 2020 Green Bond Report, which provides an update on the full allocation of the proceeds from its inaugural green bond offering, which closed on April 8, 2020. ADI allocated nearly $400 million to the development of eco-efficient products for its customers and green buildings and renewable energy for its operations.

“At ADI, we are putting our great engineering minds and resources behind tackling some of society’s greatest threats, especially climate change. In support of this, ADI completed the semiconductor industry’s first green bond offering last year and invested the nearly $400 million in proceeds in transformational, energy-efficient technologies and greener buildings at our corporate campus,” said Vincent Roche, President and CEO of Analog Devices. “While our work is far from done, the progress we have made is representative of the immense impact we can have on the world around us. We will continue to act urgently and identify new, innovative ways to help mitigate climate change and environmental destruction, and their effect on communities globally.”

As of May 1, 2021, net proceeds of $394.6 million from the green bond offering have been allocated over several projects, including:

  • $288 million to develop eco-efficient technologies across 4G and 5G communications, data centers, green vehicles and battery management systems;
  • $102 million to green buildings, helping to construct over 225,000 square feet of green building space in Wilmington, Massachusetts, the corporate headquarters; and
  • $5 million to renewable energy, including over 3,100 solar panels generating about 1.5 million kWh of electricity per year.

The project categories for the green bond offering were designed to advance the United Nations Sustainable Development Goals. Additionally, ADI’s green bond framework was reviewed by Sustainalytics to ensure that it aligns with the four core components of the Green Bond Principles 2018.

More information on ADI’s sustainability initiatives can be found in ADI’s 2020 Corporate Responsibility Report published earlier this year.

About Analog Devices, Inc. 

Analog Devices (Nasdaq: ADI) is a leading global high-performance semiconductor company dedicated to solving the toughest engineering challenges. We enable our customers to interpret the world around us by intelligently bridging the physical and digital with unmatched technologies that sense, measure, power, connect and interpret. Visit: http://www.analog.com.

Like Wilmington Apple on Facebook. Follow Wilmington Apple on Twitter. Follow Wilmington Apple on Instagram. Subscribe to Wilmington Apple’s daily email newsletter HERE. Got a comment, question, photo, press release, or news tip? Email wilmingtonapple@gmail.com.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s