Comcast Issues 2023 Green Bond Report Highlighting Allocations Made in Green Buildings and Electric Vehicles

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Comcast Corporation has published its 2023 Green Bond Report, highlighting the allocation of proceeds from its $1 billion green bond issued in February 2023. $421.8 million of the net proceeds were allocated to key investment categories such as green buildings, clean transportation, energy efficiency, and renewable energy. Comcast aims to be carbon neutral by 2035 and has reduced its greenhouse gas emissions by 38% from 2019 to 2022.

PHILADELPHIA--(BUSINESS WIRE)-- Comcast Corporation today published its 2023 Green Bond Report, which outlines the partial allocation of proceeds from its inaugural $1 billion green bond that it issued in February 2023.

Comcast Issues 2023 Green Bond Report Highlighting Allocations Made in Green Buildings and Electric Vehicles (Photo: Business Wire)

Comcast allocated $421.8 million of the $995 million net proceeds from its February 7, 2023 issuance of its 4.65% green bond note to key investment categories outlined in its Green Financing Framework, including green buildings, clean transportation, energy efficiency, and renewable energy, for expenditures through the two-years ended December 31, 2022. These investment categories support environmental efforts that are either underway or under consideration as part of Comcast’s goal to be carbon neutral by 2035.

Comcast has reduced its market-based, enterprise-wide Scope 1 and 2 greenhouse gas emissions by 38% from 2019 to year-end 2022.

“We’re pleased with the first allocation of our green bond offering as we take steps to invest responsibly and reduce our environmental impact across the enterprise,” said Sara Cronenwett, Senior Vice President of Corporate Environmental Sustainability at Comcast. “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.”

Proceeds from Comcast’s green bond were allocated to several 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. A portion of green bond net proceeds were allocated to green building construction at Universal City Studios for the Barham Stages, as well as a new state-of-the-art office building and events and dining center – all being built to LEED Gold standard or higher.

• 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. A portion of green bond net proceeds were allocated to green building construction for the 78,000-square-foot Innovation Centre, which has achieved a BREEAM Outstanding certification.

• 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.

To learn more about Comcast’s green bond issuance, please download the company’s 2023 Green Bond Report. For more information on Comcast’s environmental efforts, visit the environment page at corporate.comcast.com.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company. From the connectivity and platforms we provide, to the content and experiences we create, our businesses reach hundreds of millions of customers, viewers, and guests worldwide. We deliver world-class broadband, wireless, and video through Xfinity, Comcast Business, and Sky; produce, distribute, and stream leading entertainment, sports, and news through brands including NBC, Telemundo, Universal, Peacock, and Sky; and bring incredible theme parks and attractions to life through Universal Destinations & Experiences. Visit www.comcastcorporation.com for more information.

Forward-Looking Statements

This press release includes estimates, projections and statements regarding plans and goals that may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “potential,” “strategy,” “future,” “opportunity,” “commit,” “plan,” “goal,” “may,” “should,” “could,” “would,” “will,” “continue,” “will likely result” and similar expressions. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties that may cause actual results to differ materially. In evaluating these statements, you should consider various factors, including the risks and uncertainties we describe in the “Risk Factors” sections of our Forms 10-K and 10-Q and other reports we file with the Securities and Exchange Commission (“SEC”). There are also certain risks and challenges we may face in meeting our environmental goals that are beyond our control, including political, economic, regulatory and geopolitical conditions, supply chain and labor issues, supplier emissions reductions, the evolution of carbon offset markets and limited large-scale investments and innovations in technology and infrastructure. The inclusion of forward-looking statements that may address our corporate responsibility initiatives, progress, plans and goals in this press release is not an indication that they are necessarily material to investors or required to be disclosed in our filings with the SEC. Such statements may contain estimates, make assumptions based on developing standards that may change and provide aspirations and commitments that are not intended to be promises or guarantees. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231030290781/en/

Press: John_Demming@comcast.com, Chandler_Clay@comcast.com

Investors: Marci_Ryvicker@comcast.com

Source: Comcast Corporation

FAQ

What is the purpose of Comcast's 2023 Green Bond Report?

Comcast's 2023 Green Bond Report outlines the allocation of proceeds from its $1 billion green bond.

How much of the net proceeds from Comcast's green bond were allocated to key investment categories?

$421.8 million of the $995 million net proceeds were allocated to key investment categories.

What are the investment categories supported by Comcast's Green Financing Framework?

The investment categories include green buildings, clean transportation, energy efficiency, and renewable energy.

What is Comcast's goal regarding carbon neutrality?

Comcast aims to be carbon neutral by 2035.

How much have Comcast's greenhouse gas emissions reduced from 2019 to 2022?

Comcast has reduced its greenhouse gas emissions by 38% from 2019 to 2022.