The company has issued $1.5 billion in bonds that will use to finance clean energy projects across the world. This is the largest bond to be issued by U.S. corporation.
The company will use this green bond on renewable energy, energy storage, energy efficiency projects, green building and resource conservation efforts. Apple’s vice president Lisa Jackson said; ” This will allow the investors to show they willing to give money where their concerns and hearts are,”. Moody’s Investor Service said; they are expecting to raise $50 billion worth of green bonds this year. In 2015 this number was $42.4 billion, after the global change agreement in Paris, amounts of green bonds are on the rise. Apple also prompted by Paris agreement in December. Since then hundreds of companies start to plan to invest in the green renewable energy field.
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Don’t Miss This: Extracting Fuel From the Air We Breathe
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Before the Paris agreement, Apple already did some significant changes to lower its carbon footprints. In California and the facilities across the globe told by Apple to switch to renewable energy. One of biggest producers of Apple in China starts to switch to cleaner energy sources, including Foxconn and others.
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What is a green bond?
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“The key difference between a ‘green’ bond and a regular bond is that the issuer publicly states it is raising capital to fund ‘green’ projects, assets or business activities with an environmental benefit, such as renewable energy, low carbon transport or forestry projects. Bonds can also be used to fund projects with a social or community benefit such as improving healthcare or social services, and these are typically known as ‘social’ or ‘social impact’ bonds.” Source: KPMG INTERNATIONAL
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