“Apple Inc., which issued the biggest green bond ever sold by a U.S. corporation last year to finance projects fighting global warming, is doing it again,” Alex Webb reports for Bloomberg.
“On Tuesday, the iPhone maker issued a $1 billion green bond to fund renewable energy generation. It builds on $1.5 billion worth of bonds the Cupertino, California-based company sold a year ago to further its goal of running 100 percent of its operations on renewable energy,” Webb reports. “The bonds, maturing in 2027, will yield 95 to 100 basis points more than Treasuries, according to a person with knowledge of the matter, who asked not to be named because the deal is private. They are expected to be rated Aa1, the person said. The sale was arranged by Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co.”
“Its latest bond comes less than two weeks after President Donald Trump decided to pull the U.S. out of the Paris climate accord, an international pact to curb greenhouse-gas emissions signed by almost 200 countries,” Webb reports. “Apple said it plans to use the proceeds to finance projects involving renewable energy resources and energy efficiency, among other things… Even with cash and equivalents totaling $257 billion, Apple has issued debt totaling $99 billion to fund stock buybacks and dividends, because most of that money is held outside the U.S. and would be subject to a 35 percent corporate income tax if it were repatriated.
Read more in the full article here.
MacDailyNews Note: Apple’s Environment – Climate Change website states:
We mapped our carbon footprint, and we’re working to eliminate it.
When we measure our carbon footprint, we include hundreds of suppliers, millions of customers, and hundreds of millions of devices. And we’re always looking for ways to make the biggest difference in five major areas: manufacturing, product use, facilities, transportation, and recycling.
To reduce our carbon footprint, we design each generation of our products to be as energy efficient as possible. We’re sourcing lower-carbon materials to make our devices, we’re partnering with suppliers to add clean energy to their facilities, and we produce and procure clean, renewable energy for 96 percent of the electricity used at our global facilities.
Our comprehensive 2016 carbon footprint: 29,500,000 metric tons of greenhouse gas emissions.
More info here.
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Apple signs on to full page ‘open letter’ ad urging President Trump to keep U.S. in Paris Agreement on climate change – June 1, 2017
Apple CEO Cook calls President Trump as Elon Musk threatens to quit White House advisory councils over Paris decision – May 31, 2017
President Trump leaning toward exiting Paris climate change agreement despite Apple, others urging U.S. to remain in deal – May 31, 2017
Apple to stick with environmental pledges despite President Trump’s gutting of Obama’s climate change orders – March 30, 2017
Greenpeace: Apple again the world’s most environmentally friendly tech company – January 10, 2017
[Thanks to MacDailyNews Readers “Fred Mertz,” “Dan K.,” and “Judge Bork” for the heads up.]