NTT to issue $2.7 bil. of green bonds

NTT Group has announced one of the world's largest single issuances of green bonds by a company.

The Japanese telecom giant is planning to offer instruments worth about 300 billion yen, or around 2.7 billion dollars.

The issuance is to help fund an initiative by NTT Group to reduce its greenhouse-gas output to virtually zero by fiscal 2040.

The group plans to invest the bonds' proceeds in renewable energy-related projects such as solar and wind power.

It will also allocate some of the funds to develop and upgrade a next-generation network using optical technology. Called "IOWN," it significantly reduces power consumption.

Companies around the world have been issuing green bonds as part of a movement to realize a decarbonized society. The instruments are particularly popular in Europe and the US.