Apple has offered a $1 billion bond dedicated to financing clean energy and environment projects on Tuesday since the United States withdrew from the Paris climate agreement.
The offering comes over a year after Apple issued its first green bond of $1.5 billion, the largest issued by a U.S. corporation-a respond to the 2015 Paris agreement.
According to Apple, the second green bond is to show that businesses are still committed to the goals of the 194-nations accord. Lisa Jackson, Apple’s vice president of environment, policy and social initiatives said that the leading from the business community is necessary to solve the threat of climate change and protect our shared planet. Tim Cook was one of several CEOs who directly appealed to Trump to keep the U.S. in the agreement before he made his decision.
Apple said that the benefit money from the green bond sales will be used to finance renewable energy, energy efficiency at Apple facilities and in its supply chain and procuring safer materials for its products.
The releasing also includes a specific focus in helping Apple meet a goal of greening its supply chain and using only renewable resources or recycled material. Last year, Apple allocated $442 million to 16 different projects from renewable energy to recycling from its first bond offer.
Governments are also embracing the use of green bond as a way to meet a 2015 pledge by world leaders to limit global warming this century to below 2 degrees Celsius.