Displaying items by tag: Environment

US operator set to spend $1bn on addressing climate change

Written on Thursday, 07 February 2019 12:29

US telecommunications behemoth Verizon has pledged its commitment to helping the environment in an effort to address climate change by investing $1bn in green-friendly projects.

Verizon had been actively pursuing funding for its environmental commitments by using lower-cost bonds that appeal to a growing block of environmentally-sensitive investors. This week the US operator borrowed $1bn courtesy of a so-called green bond which basically allows them to spend the proceeds on projects that will create a positive impact on the environment.

The injection of capital will significantly help Verizon fulfill its promise from 2018, when it said that it intends to cover at least half of its energy use with renewable sources by 2025. It was further disclosed that new projects will include solar and hydrogen fuel cell electricity production at its existing properties and other investments will be made in larger solar and wind farms in areas in close proximity to its facilities nationwide.

Jim Gowen, Vice President for Verizon’s global supply chain expressed his delight at the investment boost and said it illustrated further proof of its commitment to creating a cleaner and more sustainable environment.

Gowen said, “This is now a real game changer. The whole goal of this new bond was to focus on a new, unique funding source.”

In addition to this, the bond issue was a huge success from a financial perspective. Wall Street underwriters had eight times more orders to buy bonds than bonds to sell which ultimately allowed them to reduce Verizon’s borrowing cost below the rate on its typical corporate debt. Verizon declined to specify the exact borrowing rate.

Green bond issuance rocketed to $167 billion worldwide last year, which represented almost a quadruple increase from the level in 2015. Projections appear to indicate that it has resonated with investors so much so that the sector issuance this year could hit $200 billion, according to Moody’s Investor Service.

The new initiative is one way the investment community is seeking to address the risks of climate change at a time when the federal government has renounced many such efforts. So far, most of the borrowing has been by government entities, but more corporations are getting in the market, too. 

Verizon last year added 200,000 LED bulbs, Gowen says. Some money will also be spent on the company’s reforestation program a commitment to plant 2 million new trees by 2030 including 250,000 in areas hit by the series of major hurricanes in 2017 like Puerto Rico and Miami.

Verizon plans to spend the $1 billion in three years or less. And he’s already thinking about how the company could spend more with additional green bond issues. “I already have plans and I’m setting up my next $1 billion. We see this as a great funding mechanism in the future.

Published in Telecom Operators

San Francisco and Colorado have become the first cities in North America to deploy Smart water and Smart environment projects using Libelium’s technology connected to LPWAN protocols.

Libelium, a Spanish based company – is an Internet of Things, Smart Cities and M2M platform provider and Wireless Sensor Networks hardware manufacturer.

Using its latest technology it has been able to deploy Smart Water and Smart Environment projects in San Francisco and Colorado – making them the first North American cities to adopt and deploy such Smart City infrastructure and technology.

Libelium continues to power the Internet of Things (IoT) development adding LoRaWAN and Sigfox wireless connectivity for North America to Waspmote OEM and Waspmote Plug and Sense! sensor devices.

San Francisco is one of the first cities to deploy this technology, where Libelium is already developing a Smart Water project with Sigfox and San Francisco County.

In Colorado, Libelium technology is also enhancing new projects to monitor weather and environment conditions with LoRaWAN connectivity.

Libelium keeps offering the widest interoperability in the great array of connectivity choices for the IoT. The company is joining forces with LoRaWAN and Sigfox global network in response to strong demand for low-energy, long-range and cost efficient IoT connectivity in North America. In terms of network coverage, Semtech is partnering with Comcast to deploy LoRaWAN networks in 30 cities while Sigfox is expanding its network to 100 US cities.

“We are successfully offering these protocols in their European version since 2015 and checking its viability for environment, pollution, water quality and smart parking applications. We strongly believe that making them available in their American version will speed up market adoption in the 900 MHz markets” states Alicia Asín, Libelium's CEO.

Customers can make their choice of LPWAN preferred protocol for Waspmote Plug & Sense! in 900MHz or 868MHz bands -depending on geographic destination- when ordering except for Smart Parking model, where both radios (LoRaWAN / Sigfox) are always included. “We have managed to offer a dual radio in our Smart Parking node at a very competitive price, which increases our customers' options, one of our design principles. They can compare the performance of both technologies in one installation, work in hybrid networks or change from one to another easily from the Cloud. We consider this kind of features crucial to keep a healthy and competitive IoT landscape” explains Asín.

With this update, Libelium IoT Sensor Platform is ready to use the 900-930 MHz band for the U.S., Canada, Mexico, Singapore, etc. The platform currently includes FCC and IC certification for the US and Canada.

 

Published in Internet of Things