Apple Inc allots $2.8 billion from green bonds to go carbon neutral

Apple Inc reported on Wednesday it allotted $2.8 billion for its projects that aim to eliminate an average of 921,000 metric tons of carbon emissions each year.

The said amount of fund raised was raised from green bonds, a category of fixed-income securities that raise capital for projects with environmental benefits, including low-carbon transport.

Being one of the largest firms that issue green bonds, Apple will be using the raised fund to become carbon neutral across its manufacturing supply chain by 2030. Since 2016, Apple has issued three sets of green bonds that now sum to $4.7 billion.

One of Apple’s green bond projects last year included a set of two onshore wind turbines in Denmark that it said are that nation’s largest. According to Apple, the 200-meter tall turbines will generate 62 gigawatt-hours of electricity each year for the firm’s data center in Viborg.