Here’s Some Other Big News From Apple You Probably Missed

Amid the hullabaloo surrounding Apple’s decision to oppose a court order to help the FBI glean data from iPhones belonging to the San Bernardino, Calif., terrorists, you may have missed another big announcement from the company. Apple issued a package of bonds worth $1.5 billion for projects related to clean energy, the largest “green bond” ever issued by a corporation.

The Cupertino, California-based tech giant said proceeds from the green bond sales will be used to finance renewable energy, energy storage and energy efficiency projects, green buildings and resource conservation efforts.

The basic idea is that Apple will be able to raise quick cash from investors, spend it on climate-savvy projects (like the field of solar panels that power Apple’s North Carolina data center), and then pay back the money with interest. “Green bonds” are rapidly gaining popularity with banks and institutional investors like university endowments and pension funds as a relatively safe and effective way to contribute to the fight against climate change.

A big sale of green bonds from a massive company like Apple could pave the way for other companies to follow suit, with the certainty that they’ll have customers for their bonds.

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