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Apple’s $4.7 billion Green Bond fund is starting to pay dividends

“Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work”

What you need to know

  • Apple funded 17 Green Bond projects in 2020.
  • It says those projects are helping produce 1.2 gigawatts of clean energy.
  • Apple begun issuing Green Bonds in 2016 now totaling $4.7 billion.

Apple has today announced that it funded 17 Green Bond projects in 2020 which now produce 1.2 gigawatts of renewable energy.

In a press release the company stated:

Apple’s newly completed renewable projects, part of the company’s planned $4.7 billion Green Bond spend, are bringing 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, which is equivalent to removing nearly 200,000 cars from the road. The projects will generate 1.2 gigawatts of renewable energy globally, with Apple adding over 350 megawatts of newly installed renewable energy over the last year in Nevada, Illinois, Virginia, and Denmark. Apple’s Green Bond issuances are among the largest in the private sector.

Apple’s VP of Environment, Policy, and Social Initiatives, Lisa Jackson, said Apple “is dedicated to protecting the planet we all share”. Since 2016 Apple has issued $4.7 billion in Green Bonds, in four sets of between $1-$1.5 billion. Apple says it has also continued to fund other projects supporting “low carbon design and engineering, energy efficiency, renewable energy, carbon mitigation, and carbon sequestration”, with $2.8 billion of the fund’s total allocated so far.

Apple also highlighted solar projects in Virginia and Arizona, as well as wind turbine projects in Chicago and Denmark, the latter of which is home to two of the world’s biggest onshore wind turbines, measuring 200 meters each.

Apple made a commitment in July of 2020 to be carbon neutral by 2030, you can read our unpacking of the entire 99-page document here.

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