Apple Issues $1 Billion Green Bond To Fund Renewables, Environmental Protection Programs

Apple Inc (AAPL.O) offered a $1 billion bond dedicated to financing clean energy and environmental projects on Tuesday, the first corporate green bond offered since President Donald Trump withdrew the United States from the Paris climate agreement.

The offering comes over a year after Apple issued its first green bond of $1.5 billion - the largest issued by a U.S. corporation - as a response to the 2015 Paris agreement.

Apple said its second green bond is meant to show that businesses are still committed to the goals of the 194-nation accord. “Leadership from the business community is essential to address the threat of climate change and protect our shared planet,” said Lisa Jackson, Apple's vice president of environment, policy and social initiatives.

Apple Chief Executive Tim Cook was one of several CEOs who directly appealed to Trump to keep the United States in the pact before he made his decision. The tech giant said proceeds from the green bond sales will be used to finance renewable energy, energy efficiency at Apple facilities and in its supply chain and procuring safer materials for its products.

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http://www.reuters.com/article/us-apple-climate-greenbond-idUSKBN1941ZE