(Bloomberg) — Technology giants may join the rush to sustainable finance after this week’s record bond sale from Google parent Alphabet Inc. Issuance aligns with growing investor focus on social and environmental matters, and it’s being done at very low rates.
“You’re going to see tech companies continue to follow this model,” said Scott Kimball, a portfolio manager at BMO Global Asset Management, which manages about $100 billion in fixed income assets. “Google is a leader in technology and they were able to raise a lot of money pretty cheap.”
Companies from a wide variety of sectors are expected to offer bonds to investors focused on environmental, social and governance themes this year. The tech sector is expected to be a major participant amid growing scrutiny of its social impact given its dominance in the global economy, as well as its focus on renewable energy.
Alphabet sold $10 billion of