By Stephen Nakrosis

 

American Express Co. said Wednesday it settled its inaugural Environmental, Social and Governance bond on May 3.

Proceeds from the $1 billion bond will be allocated to projects in the green and social categories in line with the company's newly developed American Express Sustainable Financing Framework, it said.

Green category projects include green buildings, energy efficiency improvements and renewable energy, among others, American Express said. Those in the social category include initiatives connected to socioeconomic advancement and empowerment, access to essential services, and affordable housing, the company said.

American Express said all net proceeds from the sustainable financing are expected to be fully allocated within two years of the date of issuance.

 

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

 

(END) Dow Jones Newswires

May 04, 2022 11:32 ET (15:32 GMT)

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