Details of Green Bond Investments
The tech company has been using Green Bond proceeds in order to invest in carbon reduction methods and renewable energy since 2016. Since then, the Green Bond has allowed Apple to make significant strides in lowering overall emissions, especially as the tech company has a pledge to be completely carbon neutral by 2030.
So far, this feat has already been achieved for all global corporate business operations, though the company looks to go farther, with every Apple product sold having a net-zero climate impact. The Green Bond is now worth $4.7 billion, and all of the money will be directly invested by the company into green projects.
In the latest update, Apple announced that the tech company had funded 17 different projects through the bond in 2020. These different projects will also for the business to avoid an average of 921,000 metric tons of carbon emissions every year. Alongside carbon avoidance, the different projects will help the tech company generate a whopping 1.2 gigawatts in renewable energy.
The many different green business projects have now used $2.8 billion of the $4.7 billion total from the Green Bond, with more investments soon to follow.
New Renewable Energy Projects
One of the major focuses that Apple has emphasized to lower emissions is renewable energy. That focus is being manifested in several different ways for the business as a new solar project in Reno, Nevada; a wind farm outside of Chicago, Illinois; a solar project in Fredericksburg, Virginia; and onshore wind turbines in Denmark. Apple plans to further these investments in green energy and carbon reduction methods throughout 2021 as environmental impact remains a top priority.
In a statement released by the business alongside the press release, Vice President of Environment, Policy, and Social Initiatives Lisa Jackson said, “Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work. We all have a responsibility to do everything we can to fight against the impacts of climate change, and our $4.7 billion investment of the proceeds from our Green Bond sales is an important driver in our efforts. Ultimately, clean power is good business.”
About the Author
Tom Price is a writer focusing on entertainment and sports features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.