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Apple Inc's Spending on 'Green Bonds' Achieves $2.8 Billion

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Apple Inc announces that it earned $2.8 billion from green bonds that financially supported 17 projects last year to generate 1.2 gigawatts of renewable energy.

The company stressed that the projects would bring down carbon emissions to an average of 921,000 metric tons annually which is close to reducing nearly 200,000 cars from the road.

Green bonds are a type of fixed-income security that raises capital for projects that benefit the environment, such as renewable energy or low-carbon transportation.

According to the company, one of its 2020 green bond was a pair of onshore wind turbines in Denmark was the country’s first. In addition, 62 gigawatt hours of electricity for the company’s data centre in Viborg each year with all energy going to the Danish grid by the 200-meter-tall turbines Esbjerg.

“We are all committed to doing everything from our side to tackle the impacts of climate change. Our $4.7 billion investment of the proceeds from our Green Bond sales are an important catalyst in our efforts”, said Lisa Jackson, Vice President of environment, policy and social initiatives.

Apple, one of the largest private-sector bond issuers, is using the funds to help it achieve carbon neutrality through its vast manufacturing supply chain by 2030. Since 2016, the company has sold three rounds of green bonds totalling $4.7 billion.

“We are all committed to doing everything from our side to tackle the impacts of climate change. Our $4.7 billion investment of the proceeds from our Green Bond sales are an important catalyst in our efforts”, said Lisa Jackson, Vice President of environment, policy and social initiatives.

Last year other projects enforced by the company included a 180-acre solar power site near its data centre in Reno, Nevada, which is expected to generate power of 270 megawatts in conjunction with its other Nevada projects. Also, a 112-megawatt power purchase agreement with a wind farm near Chicago to offset power consumption in that region; and a 165-megawatt solar power development project with three other companies near Fredericksburg, Virginia.

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