Visa has issued and priced its first green bond offering, totaling $500 million, ensuring the company's focus on environmental initiatives and sustainability goals.

The bond offering will pay a semi-annual coupon of 0.75% and matures August 15, 2027, according to a report in Finextra.

The proceeds from the bond offering will be used to fund energy efficiency improvements, expanded use of renewable energy sources, employee commuter programs, water efficiency projects and sustainable living initiatives that will support the UN Sustainable Development Goals.

Visa has also appointed 12-year company veteran, Douglas Sabo, as its first chief sustainability officer.

"Through our green bond offering and together with our initiatives driving inclusive economic growth, we are working to ensure people and planet both can thrive together," Sabo said in the report.