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Apple Issues $1 Billion Green Bond After Trump's Paris Climate Exit (reuters.com) 168

An anonymous reader shares a report: Apple offered a $1 billion bond dedicated to financing clean energy and environmental projects on Tuesday, the first corporate green bond offered since President Donald Trump withdrew the United States 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 -- as a response to the 2015 Paris agreement. Apple said its second green bond is meant to show that businesses are still committed to the goals of the 194-nation accord. "Leadership from the business community is essential to address the threat of climate change and protect our shared planet," said Lisa Jackson, Apple's vice president of environment, policy and social initiatives.
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Apple Issues $1 Billion Green Bond After Trump's Paris Climate Exit

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  • Brilliant! (Score:1, Insightful)

    by ArhcAngel ( 247594 )
    Call him all the names you want. He's uniting people left and right on a common goal. And companies are spending their own money on things the taxpayers were before.
    • Re: (Score:2, Insightful)

      by XxtraLarGe ( 551297 )

      Call him all the names you want. He's uniting people left and right on a common goal. And companies are spending their own money on things the taxpayers were before.

      You could probably thank Trump too. Not only is he making companies pay for their own green initiatives, he's also made Democrats embrace the concept of federalism. [cnn.com]

    • Re: (Score:2, Insightful)

      by drinkypoo ( 153816 )

      He's uniting people left and right on a common goal.

      Get rid of him? That's like how my thumb and forefinger unite to squeeze a pimple.

      And companies are spending their own money on things the taxpayers were before.

      A tiny minority of companies. How many companies are taking advantage of the foot Trump has stuck up in the EPA to pollute more?

  • I would be more impressed if apple gave a portion of their profits to green initiatives and in each product sold provided a small factoid book about climate change and the environment by stating facts. Then all the people that don't believe that it is "real" that buy Apple products will be inundated with facts. What would be better is if all tech giants did this together. Apple, Google, Samsung, Microsoft, Dell, etc.
    • by creimer ( 824291 )

      Perhaps you missed this incident a few years where Tim Cook defended Apple's use of renewable energy?

      For the better part of the last decade, Apple has taken on a number of sustainability projects and adopted practices to reduce waste and carbon emissions. In 2012, it broke ground on a data center in Oregon in order to take advantage of low-cost renewable energy and has plans to make all of its facilities reliant on green energy. It generally scores highly with EPEAT, a federal environmental group that keeps a registry of "green" digital devices. And in May 2013, it hired Lisa Jackson, who formerly ran the Environmental Protection Agency, to help Apple with sustainability.

      https://arstechnica.com/apple/2014/03/at-apple-shareholders-meeting-tim-cook-tells-off-climate-change-deniers/ [arstechnica.com]

    • by mysidia ( 191772 )

      I would be more impressed if apple gave a portion of their profits to green initiatives and in each product sold provided a small factoid book

      What would this action cause to increase Apple's profits? I expect management to fulfill their obligation to maximize Apple shareholders' investment returns, otherwise offenders are subject to getting sued and ejected.

      • by kfh227 ( 1219898 )

        That of course would mean that Apple nees to violate their mission statement:

        "Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices."

        "Apple is committed to bringing the best persona

        • by mysidia ( 191772 )

          That of course would mean that Apple nees to violate their mission statement:

          Maximizing profit is not in conflict with their mission statement.
          Doing all of those things listed in their mission statement have proven extremely profitable.

  • Peanuts (Score:4, Interesting)

    by OYAHHH ( 322809 ) on Wednesday June 14, 2017 @01:42PM (#54618951) Homepage

    A company that willingly manufactures the VAST majority of it's products using Chinese coal and slave labor decides to cough up a billion dollars to do what?

    Undo what it has wrought?

    If Apple was sincere it would move its manufacturing to the USA where we actually have clean air standards.

  • by Dunbal ( 464142 ) * on Wednesday June 14, 2017 @01:49PM (#54619045)
    We're so environmentally friendly! Now quick, throw out your year old iPhone 7 because YOU MUST buy the iPhone 8! It's almost exactly the same, but it's the latest model! You don't want to be seen at Starbucks with a phone that's over a YEAR OLD do you?
  • Let's give a high 5 to the Invisible Hand!

    Citation: Wikipedia [wikipedia.org]
  • by hackel ( 10452 )

    Let's remember that Apple is legally obligated only to do things which are in the interest of its shareholders. This is not some altruistic act. I bet a good deal of the money they're borrowing will be spent on their own automated vehicle efforts (which, in theory, could *also* be good for the environment), improvements in data centre cooling efficiency, power savings, etc. I imagine the bulk of the benefit to shareholders is simply as a marketing ploy, to keep their customer base happy and coming back f

    • Let's remember that Apple is legally obligated only to do things which are in the interest of its shareholders.

      Mitigating global warning is in the interest of its shareholders. There, sorted. No need for complicated CT.

  • Unlike the inefficient red states, we blue cities are investing in more efficient cheaper energy.

    Like this.

    Have fun being left in the dust!

  • by sexconker ( 1179573 ) on Wednesday June 14, 2017 @02:45PM (#54619725)

    Only 2 people so far have understood what the fuck this means.

    They're ISSUING A BOND. That means someone can GIVE APPLE MONEY and get a BOND which will, in theory, earn interest over time.
    Someone could then CASH THAT BOND and Apple would have to pay them the face value of the bond plus any accrued interest.

    What is the interest rate?
    When does it fully mature?
    What is the money going toward?
    Are there guarantees? (Typically there are with a bond.)
    What will Apple do with the money?
    What other little gotchas are there?

    • Exactly! As an investment, I'd like a lot more information in a prospectus than some feel-good California sensibilities. Has the prior green bond had a good return, or is it even stable value? I fault the news media (not Apple so much) in not asking the proper questions for these kinds of stories. Typical headline grabbing eyeballs with no substance for the actual story.
    • by JBMcB ( 73720 )

      Someone could then CASH THAT BOND and Apple would have to pay them the face value of the bond plus any accrued interest.

      .... after it matures.

  • Lets look at the 2016 eligibility:

    We selected projects that represent the breadth of environmental work we are
    undertaking at Apple. A broad range of teams submitted projects for an allocation
    of Green Bond proceeds. The Green Bond Project Review team selected projects
    based on the following criteria:
    Alignment with eligibility criteria
    Refection of our three environmental priorities
    Measurability of environmental benefts
    Magnitude of environmental benefts
    Feasibility to trac

  • Unless a switch to "Green energy" makes economic sense, it doesn't make any sense. I could decide to heat and cool my home and power everything in it without any fossil fuels being burned at all if I got funding for a mini nuclear power plant in my back yard. But it'd NEVER make any real economic sense to do it (even if you assume all the safety issues are handled far better than today's reactors handle them).

    I'd be better served by Apple cutting prices on its products, rather than financing the latest poli

    • Unless a switch to "Green energy" makes economic sense, it doesn't make any sense.

      What? 'What you're doing damages the environment' is now not an argument at all?

      • by King_TJ ( 85913 )

        "What you're doing damages the environment." is an argument, but not one that just means everybody should start forking out money left and right, in some kind of foolish notion that the problem will vanish if only enough dollars are thrown at it.

        • "What you're doing damages the environment." is an argument, but not one that just means everybody should start forking out money left and right, in some kind of foolish notion that the problem will vanish if only enough dollars are thrown at it.

          No, of course not, but sometimes forking out money does help solve the problem. Talking in generalities doesn't help very much.

  • Apple's Lisa Jackson says they are working to "protect our shared planet".

    This is a common misconception. Our goal should be to maintain the planet's ecosystem compatible with human life. The planet will perfectly cope with our removal because we do not fit anymore.

  • Apple should make their products repairable, provide replacement parts, publish maintenance manuals, and stop releasing new models every year. That would do way more for the environment and drastically lower carbon footprint and e-waste than a billion dollar PR stunt does.

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