On the heels of the US exit from the Paris Climate Accords, Apple has issued a $1 billion green bond to fund investment in renewable energy, Bloomberg reports.
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The company issued a $1.5 billion green bond last year and is now adding to that total with a second round, planning to use the proceeds to bankroll efforts to increase energy efficiency and build up renewable energy resources in the hopes of creating a “closed-loop supply chain” where products are made using only renewable resources and recycled materials, according to a statement.
The bonds are expected to mature in 2027 and yield 95 to 100 basis points more than Treasuries, according to a person with knowledge of the matter.
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