Walmart Inc. said Thursday that it has issued a $2 billion "green bond" to support projects that will help the company reach its sustainability goals.
Over the next few years, Walmart will allocate an amount equal to the net proceeds of the $2 billion offering toward a portfolio of investments that meet eligibility criteria in areas such as renewable energy; zero waste; water stewardship; and habitat restoration and conservation.
The Bentonville-based retailer will release a public report each year on the allocation and estimated impact of its green investments.
Green bonds, also referred to as climate bonds, are fixed-income investment instruments meant to encourage sustainability and support climate-related or other types of environmental projects, according to Investopedia.com. The bonds also finance development of environmentally friendly technologies and the mitigation of climate change.