Apple has issued a $1 billion green bond to fund renewable energy generation. The bond will allow the company to finance projects such wind and solar power plants, energy-efficient buildings, and new approaches to using recycled materials.
This follows a $1.5 billion bond the company sold a year ago to pursue a goal of getting 100 percent of its operations on renewable energy.
Apple said its second green bond is meant to show that businesses are still committed to the goals of the 194-nation accord.
Apple will be the biggest issuer of green bonds pegged to the U.S. dollar, according to media outlets.
With green bonds, companies can finance renewable energy projects by issuing debt.
Private and government organizations issued a total of $81 billion in green bonds in 2016, up from just $3 billion in 2012, according to the Climate Bonds Initiative, a nonprofit that promotes the debt investment tool. Issuances could reach a record $150 billion in 2017