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Equinix’s $3.7bn green bonds to lead to business' carbon neutrality by 2030

Bonds have been issued toward environmentally sustainable projects across green buildings, renewable energy, energy and water efficiency, waste and clean transportation.

By João Marques Lima

Founder and Editor, The Tech Capital

4 Mins

June 17, 2021 | 12:47 AM BST

Equinix’s $3.7bn green bonds to lead to business' carbon neutrality by 2030

From left to right: Peter Van Camp, Executive Chairman, Equinix; Charles Meyers, President and Chief Executive Officer, Equinix; Keith Taylor, Chief Financial Officer, Equinix. Source: Equinix

    • In line with SBTi requirements, Equinix is aiming to make a 50% absolute reduction in Scope 1 and 2 emissions from a 2019 base year by 2030.
    • Equinix will reach 100% renewable electricity by 2030 and achieve its RE100 goal which was set in 2015.
    • Equinix will require that 66% of its suppliers by emissions—within the categories of Purchased Goods and Services and Capital Goods—will have science-based targets by FY2025, and Equinix will achieve a 50% absolute reduction in Scope 3 emissions from fuel and energy-related activities by 2030.
    • The company is also targeting 100% climate-neutrality across Scope 1 and 2 emissions by 2030.

Equinix (Nasdaq: EQIX) has released its plan to become a greener data centre operator as pressure mounts on hosting companies to turn to renewables.

The company said it is aiming to reduce its Scope 1 and 2 emissions (direct and indirect from electricity) by 50% by 2030 against a 2019 baseline. To achieve this, Equinix explained it is targeting to reach 100% renewable energy by 2030, fulfilling its commitment to RE100.

Additional carbon emission reductions will be achieved through driving energy efficiency savings, reducing refrigerant loss, phasing out high global warming potential (GWP) refrigerants and investigating the replacement of diesel generators with cleaner on-site generation technologies.

Equinix added that it is also committing to partnering with top suppliers by engaging with those responsible for 66% of Equinix’s Purchased Goods and Services and Capital Goods supplier-related emissions, to set their own science-based targets by 2025.

The company will also address fuel- and energy-related activities (FERA) with the aim to reduce the carbon associated with the delivery of power to its sites by 50% by 2030.

Equinix aims to reach climate-neutrality by 2030 across its Scope 1 and 2 emissions. The company plans to take advantage of select carbon offsets and investigate new innovations, such as biodiesel, green hydrogen and other lower carbon on-site generation technologies.

Charles Meyers, president and chief executive officer of Equinix, said: “As the leading global interconnection and data centre company, Equinix is dedicated to powering, protecting and connecting the organisations and ecosystems that will shape this new era, and doing so in a sustainable and responsible way.”

The targets are supported by Equinix’s strategies across renewable energy, green finance, public policy advocacy, and design and operations.

Equinix is a founding member of the EU Climate Neutral Data Centre Operator Pact, as well as a founding board member of the Renewable Energy Buyers Alliance (REBA). The company is committed to designing and operating with an environmental focus, and in 2020 invested $14 million to stand up a global Energy Efficiency Center of Excellence dedicated to driving improved efficiencies across its sites.

Michael Winterson, chairman of the European Data Centre Association (EUDCA), said: “Data centres are essential infrastructure of not only the digital economy but of the entire global economy. We as an industry have a duty to ensure we are constantly finding new sustainable solutions to how we source and utilise energy, water, heat and refrigerants. 

“Equinix’s commitment to sustainable innovation in how they will achieve these Science Based Targets will accelerate the industry’s goals of offering climate-neutral services to customers by 2030.”

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João Marques Lima

Founder and Editor, The Tech Capital

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