Apple just got a little greener with an unprecedented commitment to sustainability.
The company has issued $1.5 billion in bonds to raise money to implement sustainable projects. This is the largest green bond declared by a U.S. corporation to date.
Apple will collect the money from investors and use it to finance things like renewable energy projects and green building certifications across its global stores, offices and data centers. The investments will be paid back with interest, so it's a win-win for the company and those who want to play a part in it.
“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.
This isn't the first sustainable stride that the California-based company has made in recent years. All of its U.S. properties are now powered on 100 percent renewable energy thanks to investments in massive hyro- and solar-power plants. Expect the $1.5 billion to be put towards implementing projects like these in other countries.
Green bonds designated to funding environmentally-friendly initiatives have been around for less than 10 years, so it's encouraging that one of this scope is already taking shape.
Apple is proving that sustainable initiatives make good business sense, and we hope that other major corporations follow suit.