Apple, one of the largest private sector of such bonds, is using capital as part of an effort to become carbon neutral across its broader manufacturing supply chain by 2030.
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Apple Inc. on Wednesday said it has been allocated $ 2.8 billion raised from “Green Bonds”, which last year funded 17 projects that would generate 1.2 GW of renewable energy.
It added that projects would avoid an average of 921,000 metric tons of carbon emissions every year, stating that this is equivalent to removing about 200,000 cars off the road.
Green bonds are a class of fixed-income securities that raise capital for projects with environmental benefits, such as renewable energy or low carbon transportation.
One of the largest private sector issuers of such bonds, Apple is using the capital by 2030 as part of an effort to become a carbon neutral in the supply chain of manufacturing capital. The company has released three sets of $ 4.7 billion since 2016. .
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“We all have a responsibility to do whatever we can to fight the effects of climate change, and a $ 4.7 billion investment from our green bond sales is an important driver in our efforts,” Lisa Jackson, Vice President of Environment . , Policy, and Social Initiative said in a statement. “Finally, clean power is good business.”
Apple’s 2020 Green Bond projects stated that Denmark had a set of two onshore wind turbines stating that it was the country’s largest. The company said that the 200-meter-long turbine near Esbjerg will generate 62 gigawatt-hours of electricity every year for Apple’s data center in Viborg, with all the surplus energy going to the Danish grid.
Apple said other projects last year were a 180-acre solar power site near its data center in Reno, Nevada, which along with its other Nevada projects would generate 270 megawatts of electricity; 112 MW power purchase agreement with a wind farm near Chicago to meet power consumption in that area; And a 165 MW solar power development project near Fredericksburg, Virginia with three other companies.
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