GHG Emissions, Sourcing Renewables - March 30, 2022
Apple’s Green Bond Creates Clean Power
Apple’s newly completed renewable projects, which are part of the company’s planned $4.7 billion Green Bond spend, have brought clean energy to local communities while reducing carbon emissions.
In 2020, Apple funded 17 Green Bond projects that will avoid an average of 921,000 metric tons of carbon emissions annually and will generate 1.2 GW of renewable energy globally. The company added over 350 MW of newly installed renewable energy over the last year in Nevada, Illinois, Virginia, and Denmark.
“Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work,” said Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives in a statement. “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."
The company issued its first $1.5 billion Green Bond in February 2016, following up with its second round of $1 billion in June 2017. In November 2019, Apple issued its third set of Green Bonds and its first in Europe, with two bonds each at 1 billion euros (totaling approximately SD $2.2 billion).
Apple has continued funding new projects that support low carbon design and engineering, energy efficiency, renewable energy, carbon mitigation, and carbon sequestration. Apple allocated more than half of its total Green Bond spend of $2.8 billion and will continue to invest in projects that address carbon emissions.
Apple announced last July it plans to become carbon neutral across its entire business, manufacturing supply chain, and product life cycle by 2030.