Union Pacific's Green Financing Framework

Union Pacific is committed to being part of the climate solution by proactively seizing opportunities and investing in initiatives to meet, and exceed, our sustainability goals. Through our Green Financing Framework (the “Framework”), Union Pacific may from time-to-time issue green bonds to support projects with environmental benefits.

Union Pacific’s Framework addresses the four core components and key recommendations of the International Capital Markets Association (ICMA) Green Bond Principles 2021.

Core Components:
  1. Use of Proceeds
  2. Process for Project Evaluation and Selection
  3. Management of Proceeds
  4. Reporting
Key Recommendations:
  1. Green Bond Frameworks
  2. External Reviews


Furthermore, Union Pacific engaged Sustainalytics to provide a Second Party Opinion on the environmental credentials of its Framework as well as its alignment with the Green Bond Principles.

After the issuance of any green financing, Union Pacific will report on the allocation of an amount equal to the net proceeds to Eligible Green Projects, and the positive environmental impacts related to those Projects.

Green Financing Framework Cover Image