The green bond gives investors the opportunity to support key Comcast carbon emissions reduction projects to make progress toward its carbon neutral goal.
Advancing environmental sustainability requires action on many fronts. Comcast has acted in many ways, including setting a goal to be carbon neutral for Scope 1 and 2 emissions by 2035 across its global operations.
To help meet this goal, in February 2023, Comcast issued a $1 billion green bond that offered investors the opportunity to support environmental efforts that are currently underway or under consideration across the business – from supporting a shift to renewable energy to infrastructure projects that improve energy efficiency. This bond is just one example of how NCTA members are finding innovative ways to create a more sustainable industry and a better world.
Comcast’s 2023 Green Bond Report
Comcast recently published its 2023 Green Bond Report, which highlights the partial allocation of $421.8 million of the $995 million net proceeds from the bond. The funds supported key sustainability projects, including:
- Universal City Studios – New construction at the Universal City Studios campus in Los Angeles, California is being built to green building standards that help support sustainable production and greener operations.
- Sky Innovation Centre – The Sky Osterley Innovation Centre in West London, England is Sky’s first all-electric building, avoiding the use of fossil fuels within the building operation.
- Electric Vehicles – Comcast allocated a portion of green bond net proceeds to clean transportation initiatives, including the Universal Studios Hollywood Studio Tour electric trams and Sky electric shuttle buses, which will help lower carbon emissions and improve local air quality.
“This allocation focused on green building construction and electric vehicle deployment at key NBCUniversal and Sky locations that will support more sustainable operations and productions from Hollywood to West London,” said Sara Cronenwett, Senior Vice President of Environmental Sustainability at Comcast.
Comcast’s Green Financing Framework, released in early 2023, provides investors and other stakeholders with a strategic overview of the funding categories, management approach, and governance. With this rigorous framework for green financing in place, Comcast is demonstrating strong industry leadership on sustainability.