Amgen Issues Inaugural Green Bond to Advance ESG Goals
Amgen (NASDAQ:AMGN) announced the issuance of its inaugural $750 million green bond, with a 3.000% semi-annual coupon and maturing in 2029, to advance the environmental goals that are part of Amgen’s environmental, social and governance (ESG) framework.
The green bond is part of a $4 billion underwritten public offering of senior notes that were issued on February 22, 2022 and the use of proceeds from the green bond is aligned with the Company’s Green Financing Framework. S&P Global Ratings provided the second party opinion on the Framework and reported that it is aligned with the Green Bond Principles (2021) administered by the International Capital Market Association.
Since 2007, Amgen has implemented environmentally focused projects resulting in a 33% reduction in carbon emissions, a 30% reduction in water use and a 28% reduction in waste disposed.1 These reductions were achieved even as the Company increased production capacity, expanded its presence to approximately 100 countries, and grew revenues significantly. In January 2021, Amgen announced plans to achieve carbon neutrality in its operations by 2027, while further reducing water use by 40% and waste disposed by 75%.2
“As a science-based company, we understand the profound impact that climate change is having on human health around the world,” said Judy Brown, senior vice president, Corporate Affairs at Amgen. “This green bond will fund specific projects across our company that are intended to mitigate our impact on the environment.”
Amgen intends to allocate an amount equivalent to the net proceeds from the Green Financing, in whole or in part, to one or more new or existing eligible projects in the following categories: green buildings, eco-efficient operations and processes, eco-efficient products, renewable energy and clean transportation. For each Amgen Green Financing, Amgen will publish an annual allocation report until full allocation of the proceeds and may publish an update of any such report in the event of any material changes, until the relevant maturity date. Where feasible and subject to any confidentiality considerations, Amgen will report estimated quantitative impact metrics and provide qualitative case studies on eligible projects.
About Amgen’s ESG Framework Amgen’s approach to corporate responsibility and sustainability starts with its mission to serve patients and is executed through the four pillars of its ESG framework: Healthy Planet, Healthy Society, Healthy People and A Healthy Amgen. Amgen’s commitment to these pillars is visible in its projects to reduce its environmental footprint, strengthen STEM education, and expand access to its medicines.
In May 2021, Amgen published a comprehensive ESG Report, which is available here.
About Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses by discovering, developing, manufacturing and delivering innovative human therapeutics. This approach begins by using tools like advanced human genetics to unravel the complexities of disease and understand the fundamentals of human biology.
Amgen focuses on areas of high unmet medical need and leverages its expertise to strive for solutions that improve health outcomes and dramatically improve people’s lives. A biotechnology pioneer since 1980, Amgen has grown to be one of the world’s leading independent biotechnology companies, has reached millions of patients around the world and is developing a pipeline of medicines with breakaway potential.
Amgen is one of the 30 companies that comprise the Dow Jones Industrial Average and is also part of the Nasdaq-100 index. In 2021, Amgen was named one of the 25 World’s Best Workplaces™ by Fortune and Great Place to Work™ and one of the 100 most sustainable companies in the world by Barron’s.
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