NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, February 22, 2016

Apple has issued $1.5 billion in bonds dedicated to financing clean energy projects across its global business operations, the largest green bond to be issued by a U.S. corporation, the company’s head of environmental policy said Wednesday.

The Cupertino, California-based tech giant AAPL 0.18% said proceeds from the green bond sales will be used to finance renewable energy, energy storage and energy efficiency projects, green buildings, and resource conservation efforts.

“This will allow investors to show they will put their money where their hearts and concerns are,” Lisa Jackson, Apple’s vice president of environment, policy and social initiatives, told Reuters.

Although green bonds comprise a small fraction of the overall bond market, demand is expected to grow as investors seek lower-carbon investments.