Norfolk Southern's $500 Million in Green Bonds Funds Low-carbon Initiatives
Thursday, May 12th, 2022
Norfolk Southern Corporation released a report on projects funded by the $500 million in green bonds issued by the company in 2021. The report provides a comprehensive overview of the funded projects, as well as expected environmental and social benefits.
"Sustainability is in our company's DNA," said Mark George, Executive Vice President and Chief Financial Officer for Norfolk Southern. "Our industry-first green bond offering funds projects that align our efforts to reduce carbon emissions and advance sustainable business practices, all while delivering long-term value for our customers, communities, and shareholders."
Norfolk Southern is a leader in delivering the low-carbon economy and was the first Class I railroad in North America to issue green bonds. The company allocated $496 million in net proceeds from its green bonds to fund eligible projects, as defined under Norfolk Southern's Green Financing Framework.