Daisy, Apple’s dissasembly robot, was one of the projects to which Apple allocated green bond funds in fiscal year 2018 / Credit: Apple
Tech giant almost doubles its green bond offering as it seeks to accelerate emission reduction efforts
The record-breaking green bond market received a further boost this week, as Apple announced the issuance of a new $2.2bn green bond offering.
The move sees the global tech giant almost double its green bond offering, following two previous issuances, making it the largest US corporate issuer of green bonds with $4.7bn.
The new offering is expected to focus on funding global initiatives to lower carbon emissions from Apple’s operations and across the lifecycle of products, building on previous work that has seen the company cut its carbon footprint by 35 per cent in the past three years.
Lisa Jackson, vice president of environment, policy, and social initiatives at Apple, said the latest bond issuance was further evidence of the company’s “unwavering commitment to addressing the urgent threat of climate change”.
“The time for action is now,” she added. “By issuing an additional $2.2bn in green bonds, we will accelerate our work to lower carbon emissions across our supply chain and beyond, building on our successful transition to 100 per cent renewable energy.”
She also argued that the company’s approach provided a template for others to follow. “Apple’s progress is proof positive that businesses don’t have to choose between what’s right for the planet and a healthy bottom line,” she said.
The move follows the issuance of Apple’s first $1.5bn bond issuance in