Apple’s $4.7 Billion Green Bond Spend is Helping to Create 1.2 Gigawatts of Clean Power
March 17 2021 - 3:00AM
Business Wire
Apple®’s newly completed renewable projects, part of the
company's planned $4.7 billion Green Bond spend, are bringing clean
energy to local communities while reducing carbon emissions. In
2020, Apple funded 17 Green Bond projects that will avoid an
average of 921,000 metric tons of carbon emissions annually, which
is equivalent to removing nearly 200,000 cars from the road. The
projects will generate 1.2 gigawatts of renewable energy globally,
with Apple adding over 350 megawatts of newly installed renewable
energy over the last year in Nevada, Illinois, Virginia, and
Denmark. Apple’s Green Bond issuances are among the largest in the
private sector.
“Apple is dedicated to protecting the planet we all share with
solutions that are supporting the communities where we work,” said
Lisa Jackson, Apple’s vice president of Environment, Policy, and
Social Initiatives. “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."
Since the historic climate change agreement at the 2015 United
Nations Climate Change Conference (COP21) in Paris, Apple has
invested the proceeds from three issuances of Green Bonds to
support global efforts in carbon emissions reductions. In February
2016, the company issued its first $1.5 billion Green Bond,
following up with its second round of $1 billion in June 2017 after
the former US Administration’s announcement of its intention to
withdraw from the agreement reached at COP21. In November 2019,
Apple issued its third set of Green Bonds and its first in Europe,
with two bonds each at 1 billion euros (totaling approximately $2.2
billion USD).
In addition to those detailed in Apple’s Green Bond Impact
Report, the company has continued funding new projects that support
low carbon design and engineering, energy efficiency, renewable
energy, carbon mitigation, and carbon sequestration. Apple has
allocated more than half of its total Green Bond spend — $2.8
billion — and will continue to invest in projects that address
carbon emissions. Last July, the company unveiled its plan to
become carbon neutral across its entire business, manufacturing
supply chain, and product life cycle by 2030. Apple is already
carbon neutral today for its global corporate operations, and this
new commitment means that by 2030, every Apple device sold will
have net zero climate impact.
Apple’s Latest Investments in Renewable Energy
Onsite solar project outside of Reno, Nevada: A
180-acre site located within the Reno Technology Park is now
providing power to Apple's Nevada data center. The project,
recognized as “Utility-Scale Project of the Year” by Solar Builder
magazine, has created 236 clean energy construction jobs of which
more than 90 percent were filled by Nevada residents, and
represents a more than $60 million investment in Washoe County.
This site is delivering 50 megawatts of renewable power to Apple,
joining the company’s three other Nevada projects that deliver 270
megawatts.
Wind farm outside of Chicago: A 112-megawatt virtual
power purchase agreement with this wind farm in Illinois covers
Apple’s electricity use in the Chicago region. This project
aggregated buyers, enabling other companies with less purchasing
power to access the same high-quality renewable energy as
Apple.
Solar project in Fredericksburg, Virginia: Through an
innovative agreement, Apple worked with Etsy, Akamai, and SwissRE
to support the development of 165 megawatts of renewable power
through a solar photovoltaic project outside Fredericksburg,
Virginia, which is now delivering energy to the broader electric
grid in the region.
Largest onshore wind turbines in Denmark: Apple has
completed construction of two of the world’s largest onshore wind
turbines, a source of clean, renewable energy that is now
operational. Located near the Danish town of Esbjerg, the
200-meter-tall turbines are expected to produce 62 gigawatt hours
each year — enough to power almost 20,000 homes — and will act as a
test site for powerful offshore wind turbines. The power produced
at Esbjerg will support Apple’s data center in Viborg, with all
surplus energy going into the Danish grid.
Apple’s annual impact report covers the allocation of its 2019
Green Bond proceeds to environmental projects that incurred spend
between September 29, 2019, and September 26, 2020 — Apple’s 2020
fiscal year. The Green Bond Impact Report, Fiscal Year 2020 Update
can be found at investor.apple.com.
Apple revolutionized personal technology with the introduction
of the Macintosh in 1984. Today, Apple leads the world in
innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV.
Apple’s five software platforms — iOS, iPadOS, macOS, watchOS, and
tvOS — provide seamless experiences across all Apple devices and
empower people with breakthrough services including the App Store,
Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000
employees are dedicated to making the best products on earth, and
to leaving the world better than we found it.
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Press Contact: Keri Fulton Apple keri_fulton@apple.com
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