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Source: Stocksnap

Apple Issues New $1 Billion 'Green Bond' To Fund Renewable Energy

By Brian Spaen

Last year, Apple issued a $1.5 billion green bond that aided in the company’s dedication to run completely off of renewable energy. The tech giant has nearly reached full capacity at 96 percent, and they're planning for the second bond of $1 billion to push them over the finish line. They’ve now issued the most money in climate bonds through US dollars.

Green bonds, or climate bonds, are tax-exempt bonds given to organizations to develop sustainability projects. They can take either abandoned or undeveloped areas and turn them into valuable properties that can enrich the environment. $81 billion worth of bonds were issued in 2016, and Mashable reports that the number could reach up to $150 billion this year.

There are many factors that Apple will focus on with the $1 billion green bond. The company will attempt to limit waste with less carbon emissions and being more efficient in their production. They will continue to remove harmful chemicals in their manufacturing plants and will look toward using recycled materials. Finally, they will be investing in more renewable energy sources.