Apple Inc

Apple Inc

19 June, 2017
Apple Issued Second Green Bond
100% renewable energy
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On 13th June, Apple Inc. issued its second green bond two weeks after President Trump decided to withdraw US from the Paris Climate Accord. The $1-billion bond shows the $170-billion worth "Most Valuable" corporation's unwavering commitment to finance clean energy projects despite Trump's decision, a move which it opposed.

Just more than one year ago, in February 2016, Apple Inc. became the first and largest tech company to issue green bonds. The allocation of the tech guru's first $1.5-billion-worth green bond was spent on green buildings, renewable energy, energy efficiency, recycling recovery, developing safer materials and improving water efficiency in descending order.

Apart from supporting projects above-mentioned, the latest bond also focuses on propelling Apple's suppliers towards using 100% renewable energy, renewable resources or recycled materials to reduce its need to mine rare earth materials. Apple's executive Lisa Jackson said in an interview with Bloomberg that the total number of its suppliers using renewable energy has risen to seven as three more suppliers have recently made the pledge.

As a pioneer in its field, Apple's move to bolster its efforts in supporting sustainable projects can be seen as leading by example in the green bonds market.“Leadership from the business community is essential to address the threat of climate change and protect our shared planet,” Jackson said. Demand for green bonds has been growing significantly as investors turn to lower-carbon investments. According to Climate Bonds Initiative, the $81-billion worth of green bonds issued in 2016 doubled its number from 2015.

In Apple's 2016 Green Bond Impact Report, it says, "Apple is committed to leaving the world better than we found it, and that is considered in everything we do—from how we design our products to the processes we use to produce and recycle them." Their issuing of a second green bond shows their ambition to make their production more sustainable, one step ahead of ensuring its facilities are run on renewable energy sources. According to Jackson, Apple is 96% renewable worldwide. Facilities in 24 countries, including US and China, are powered by renewable resources and it's working its way to expand it to full coverage worldwide.

Apple's new headquarters Apple Park in Cupertino California was opened in April. The futuristic ring-shaped facility that houses 12,000 employees is installed with a 17 MW rooftop solar panel that powers itself with solar energy. During peak daytime, 75% of its energy runs on solar power and 25% on other renewable energy sources.

Apple's posted its Environmental Responsibility Report, Product Environmental Reports and many more on their website. The corporation's executive reiterated that how to help Apple's products and customers go green is in their very heart. their innovations always work around that idea.

By: Angela Ng
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