Apple said it has allotted $2.8 billion raised from “green bonds”, as part of its aim of becoming carbon neutral across its complex supply chain by 2030.

A green bond is a type of fixed-income instrument that is specifically earmarked to raise money for climate or environmental projects.

The consumer electronics giant has raised $4.7 billion in green bonds since the 2015 Paris Agreement, over three separate rounds.

Apple said it funded 17 green bond projects in 2020, which it said will avoid an average of 921,000 metric tons of carbon emissions annually.

Apple claimed this is equivalent to removing almost 200,000 cars from the road and said the projects will generate 1.2 gigawatts of renewable energy globally.

In addition, the company also said it added over 350 megawatts of newly installed renewable energy over the last year in Nevada, Illinois, Virginia, and Denmark.

This investment included a set of two onshore 200-meter-tall turbines near Esbjerg in Denmark that Apple said are that country’s largest.

According to the tech giant, these will create 62 gigawatt hours of electricity each year for Apple’s data centre in Viborg, with all surplus energy going to the Danish grid.

“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."

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