Apple has shared an update on the work it has done to contribute to the green energy projects. The company claims that its “newly completed” project pertaining to renewable energy is reducing carbon emissions. The projects are part of the company’s long term project it has planned – Green Bond worth $4.7 billion.
The Cupertino based company reportedly funded 17 Green Bond projects in 2020. The company estimates that its contributions will help reduce 921,000 metric tons of carbon emissions on an annual basis. The company goes on to add that the equivalent of the carbon emissions it has reduced, is almost equivalent to removing 200,000 cars from the planet.
“Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work,” said Apple’s vice president of Environment, Policy, and Social Initiatives Lisa Jackson. “We all have a responsibility to do everything we can to fight against the impacts of climate change, and our $4.7 billion investment of the proceeds from our Green Bond sales is an important driver in our efforts. Ultimately, clean power is good business.”
The projects funded by Apple will reportedly generate 1.2 gigawatts of renewable energy. The company added 350 megawatts of renewable energy to the planet with its installations in Nevada, Virginia, Denmark, and Illinois. Apple is one of the largest issuers of Green Bonds in the private sector in the whole world.
Apple first invested $1.5 billion in a Green Bond in February 2016. The company went on to invest another $1 billion in June of 2017 – after the Trump administration’s intention to withdraw from the Paris Agreement had been shared with COP21. Apple began investing in Green Bonds since the “historic”, according to the company, climate change agreement being formulated in 2015.