SK hynix, a semiconductor manufacturer under SK Group, announced on Wednesday that it has successfully issued a Sustainability-Linked Bond worth $1 billion, making it the first global chipmaker to do so.

SLB is a type of bond with interest rates that are adjusted depending on whether a company's environmental, social and corporate governance (ESG) objectives are achieved. For this ESG requirement, the company aims to reduce its greenhouse gas emissions by 57 percent of its 2020 rate by 2026.

SK hynix is the first multinational memory chipmaker to issue an SLB. The company said it had originally planned to raise $500 million, but decided to double the amount to $1 billion due to keen interest from investors at some 300 institutions.

“This large-scale investment offers promise amid a downturn in the semiconductor industry. It is the result of the industry’s expected rebound this year and our commitment to climate action,” the company said in a statement.

The world’s No. 2 memory chipmaker said it plans to disclose emissions reduction performance every year through the Sustainability Reporting System. After 2026, it aims to measure its target achievement progress during the following year and adjust interest rates accordingly.

Adding to that, the company also issued a $750 million green bond, with which it plans to invest in eco-friendly projects such as improving energy efficiency and managing water quality.