By focusing on more eco-friendly projects, Apple has just announced to raise funds in the form of “green bonds”. According to the Financial Times, Apple often sells bonds to help fund their operating expenses, however, the green bond is new to the company. Apple hopes to raise as much as $10 and $12 billion from the green bonds.
Green bonds aim to assist investors identify eco-friendly environmental projects. Apple’s debts will be aligned with the Green Bond Principles, which are voluntary guidelines that help raise funds for new and existing eligible projects with environmental benefits. It is claimed that the funds will be distributed by Lisa Jackson, Apple’s VP of Environment, Policy and Social Initiatives.
Apple will spend the funds on individual projects that meet certain criterias which are: solar and wind projects associated with energy storage, buildings that are certified with world standard green rating systems like LEED and BREEAM, environmental upgrades for new buildings and existing buildings, projects that encourage recycling, as well as the facilitation of green technologies.
Apart from the green bond, Apple has also committed to partner with solar provider First Solar for clean energy, and have all its data centers 100% powered by renewable energy.