Apple's green bond bets
Apple has spent $4.7 billion in green bonds on recycled materials, emerging green technology and other strategies to decarbonize its business, the company tells Axios.
Why it matters: Manufacturing electronics is a carbon-intensive process, but Apple's investment will help to align the process with its goal to create a carbon-neutral supply chain by 2030.
Flashback: Apple introduced its green bonds program in 2016 to streamline its investment in transitioning to carbon-neutral across different areas of the business without affecting the company's balance sheet.
By the numbers: In its most recent report released Thursday, Apple says it spent the majority of its $4.7 billion in green bonds on transitioning its manufacturing facilities to renewable energy investing in recycled materials for use in its products.
- It signed a purchase agreement with Elysis in 2021, a renewable aluminum maker, to provide carbon-neutral aluminum for Apple's iPhone SE.
- It previously worked with Elysis in 2019 to provide aluminum in the production of the 16-inch MacBook Pro.
- Apple invested $10 million in Elysis via a partnership with Alcoa, Rio Tinto and the Canada and Quebec governments.
💭 Our thought bubble: Consumers often won't pay a premium for "green" products. But, if Apple is able to maintain its price point on products that use recycled or renewable material, it could pressure other tech companies to similarly drop prices and help expedite consumer adoption. And as they say, a rising tide lifts all boats.