According to the company, proceeds from the bond sales will be allotted to the three following priorities they believe will have the most positive impact on the environment:
- Using renewable energy sources and driving energy efficiency in facilities, products, and supply chain
- Using greener materials in products and processes
- Conserving precious resources
This is the largest green bond ever issued by a U.S. corporation. Apple's announcement comes on the heels of December's U.N. climate summit, during which over 150 companies, including many retailers, signed President Obama's Climate Pledge to reduce emissions, increase low-carbon investment, and deploy more clean energy.
RILA currently leads industry efforts to educate retailers about best energy management practices and provide tools for advancing company sustainability and clean energy goals. In support of these efforts, the Department of Energy awarded RILA's Retail Energy Management Program a three-year $750,000 grant in 2015 to help improve retail energy managers' ability to secure financing for energy efficiency projects.
Retailers interested in seeing an early draft of the Green Bonds Primer being developed through RILA's grant work can contact Erin Hiatt at email@example.com.