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Total to Sell Only ESG-Linked Bonds in First for Debt Market (1)

Feb. 9, 2021, 4:50 PM

Total SE intends to only sell bonds with pricing tied to environmental goals, becoming the first company to fully link its debt and sustainability plans as it steps up efforts to reduce carbon emissions.

All of the French oil giant’s new notes will be linked to externally audited climate targets, according to an earnings presentation on Tuesday. The company, which has more than $60 billion of bonds outstanding, is the first worldwide to make such a pledge, according to Chief Executive Officer Patrick Pouyanne.

“It’s the best answer to show that the transition of the company is on the...

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