Quantcast
Environmental News for a Healthier Planet and Life

Help Support EcoWatch

Apple Issues Largest Ever Green Bond by U.S. Company

Business
Apple Issues Largest Ever Green Bond by U.S. Company

As part of its ongoing efforts to minimize its environmental footprint, Apple has issued $1.5 billion in bonds that will finance sustainable business projects. This is the largest ever "green bond" issued by a U.S. corporation.

On Earth Day 2014, a green leaf adorned the Apple logo at the company's Fifth Avenue store in Midtown Manhattan. The store is one of at least 120 Apple stores powered by renewable energy.

The bond—rated Aa1 (or high quality and very low credit risk) by bond rating agency Moodys—pays 2.85 percent over seven years, Sustainable Business noted. The bond is part of an overall package of $10-$12 billion worth of new bonds Apple is selling.

For the uninitiated, this green bond means Apple is specifically raising money from investors to spend on environmentally friendly projects. As any debt instrument goes, Apple will pay investors back with interest. Here is where the funds will go, according to the bond's prospectus:

  • New and ongoing renewable energy projects, such as solar and wind projects, or associated energy storage solutions

  • Green building expenditures such as certification of LEED Gold or Platinum or BREEAM Very Good, Excellent, or Outstanding standards

  • The implementation of environmental design elements for new or ongoing building developments, such as high performance mechanical systems, natural ventilation, on-site renewable energy and high performance lighting systems

  • Energy efficiency projects and technologies at Apple's corporate facilities, such as heating, ventilation and air conditioning systems upgrades, lighting retrofits and energy monitors and controls

  • Water efficiency projects and technologies at our corporate facilities, such as upgrades to water efficient fixtures and water efficient irrigation and increased use of recycled water

  • Projects that enhance recycling, material recovery and reuse, and landfill waste diversion for our products and facilities

  • Projects and technologies that facilitate the use of greener materials in our products

"This will allow investors to show they will put their money where their hearts and concerns are," Lisa Jackson, Apple's vice president of environment, policy and social initiatives, told Reuters.

Although the global green bond market is still taking baby steps in the financial world, the market is "growing rapidly," as Big Four accounting firm KPMG pointed outMarket Watch reported that November "was the strongest month on record for global green-bond issuance, with $7.39 billion in new bonds."

But what exactly makes a green bond, "green"? Well, it's unclear. As KPMG said, there is "little consensus on define criteria for green bonds" and issuers can face criticism and accusations of "greenwashing."

Apple is said to be following the Green Bond Principles established by a group of financial institutions including BlackRock and JPMorgan Chase. Such guidelines include second party consultation (for example a climate expert), publicly available reviews and audits, and third party, independent verification/certification.

YOU MIGHT ALSO LIKE

World’s First Vegan Supermarket Chain to Open in Portland

Leonardo DiCaprio Joins Carbon Capture Technology Company to ‘Bring About a More Sustainable Future for Our Planet’

5 Sustainable Market Trends That Unleash a World of Opportunities

Solutions Wanted: Do You Have a Solution That Will Create a Cleaner, Greener World?

Eating lots of fruits and vegetables will boost the immune system. Stevens Fremont / The Image Bank / Getty Images

By Grayson Jaggers

The connection between the pandemic and our dietary habits is undeniable. The stress of isolation coupled with a struggling economy has caused many of us to seek comfort with our old friends: Big Mac, Tom Collins, Ben and Jerry. But overindulging in this kind of food and drink might not just be affecting your waistline, but could potentially put you at greater risk of illness by hindering your immune system.

Read More Show Less

EcoWatch Daily Newsletter

A graphic shows how Rhoel Dinglasan's smartphone-based saliva test works. University of Florida

As the world continues to navigate the line between reopening and maintaining safety protocols to slow the spread of the coronavirus, rapid and accurate diagnostic screening remains critical to control the outbreak. New mobile-phone-based, self-administered COVID-19 tests being developed independently around the world could be a key breakthrough in making testing more widely available, especially in developing nations.

Read More Show Less

Trending

A meteorologist monitors weather in NOAA's Center for Weather and Climate Prediction on July 2, 2013 in Riverdale, Maryland. Mark Wilson / Getty Images

The Trump White House is now set to appoint two climate deniers to the National Oceanic and Atmospheric Administration (NOAA) in one month.

Read More Show Less
A plastic bag caught in a tree in New Jersey's Palisades Park. James Leynse / Stone / Getty Images

New Jersey is one step closer to passing what environmental advocates say is the strongest anti-plastic legislation in the nation.

Read More Show Less

Did you know that nearly 30% of adults do, or will, suffer from a sleep condition at some point in their life? Anyone who has experienced disruptions in their sleep is familiar with the havoc that it can wreak on your body and mind. Lack of sleep, for one, can lead to anxiety and lethargy in the short-term. In the long-term, sleep deprivation can lead to obesity, diabetes, and cardiovascular disease.

Fortunately, there are proven natural supplements that can reduce insomnia and improve quality sleep for the better. CBD oil, in particular, has been scientifically proven to promote relaxing and fulfilling sleep. Best of all, CBD is non-addictive, widely available, and affordable for just about everyone to enjoy. For these very reasons, we have put together a comprehensive guide on the best CBD oil for sleep. Our goal is to provide objective, transparent information about CBD products so you are an informed buyer.

Read More Show Less

Support Ecowatch