Apple raises one billion dollar “green bond”

Apple has raised $1bn in debt in a “green bond” to fund environmentally focused initiatives, weeks after the company’s chief executive criticised President Donald Trump’s decision to pull out of the Paris climate pact.

The 10-year bond, which will pay investors a coupon of 3 per cent and yield 82 basis points over comparable US Treasuries, has earmarked projects that meet “three environmental priorities where it believes it can make the most environmentally positive impact”, the California-based tech group said in a filing with US Securities and Exchange Commission.

The broad initiatives for which Apple will be using the proceeds are to reduce its impact on climate change by using renewable energy sources and improving energy efficiency; using greener materials to make products; and conserving resources.

In 2016, Apple issued the largest green bond at $12bn.