Le Lézard
Classified in: Transportation
Subjects: SVY, ESG

Norfolk Southern's $500 million in green bonds funds low-carbon initiatives

ATLANTA, May 11, 2022 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) today released a report on projects funded by the $500 million in green bonds issued by the company in 2021. The report provides a comprehensive overview of the funded projects, as well as expected environmental and social benefits.

"Sustainability is in our company's DNA," said Mark George, Executive Vice President and Chief Financial Officer for Norfolk Southern. "Our industry-first green bond offering funds projects that align our efforts to reduce carbon emissions and advance sustainable business practices, all while delivering long-term value for our customers, communities, and shareholders."  

Norfolk Southern is a leader in delivering the low-carbon economy and was the first Class I railroad in North America to issue green bonds. The company allocated $496 million in net proceeds from its green bonds to fund eligible projects, as defined under Norfolk Southern's Green Financing Framework. Projects include:

"Norfolk Southern intends to build on its industry-leading position in delivering the low-carbon economy while helping customers reduce their supply chain emissions," said Josh Raglin, Chief Sustainability Officer for Norfolk Southern. "From improved fuel efficiency of our locomotive fleet to ecological projects that restore natural landscapes, we believe these funds are driving a sustainable future and long-term value for all our stakeholders."

To learn more about Norfolk Southern's ongoing efforts to build a better planet and to access the full Green Bond Use of Proceeds Report, visit www.nscorp.com/sustainability.

About Norfolk Southern

Norfolk Southern Corporation (NYSE: NSC) is one of the nation's premier transportation companies, moving the goods and materials that drive the U.S. economy. Norfolk Southern connects customers to markets and communities to economic opportunity, with safe, reliable, and sustainable shipping solutions. The company's service area includes 22 states and the District of Columbia, every major container port in the eastern United States, and a majority of the U.S. population and manufacturing base.

SOURCE Norfolk Southern Corporation

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