Cupertino (California), Mar 17 (IANS): Apple on Wednesday said that its $4.7 billion green bond spend is helping generate 1.2 gigawatts of renewable energy, bringing clean energy to local communities while reducing carbon emissions.

In February 2016, the tech giant issued its first $1.5 billion Green Bond, following up with its second round of $1 billion in June 2017.

In November 2019, Apple issued its third set of Green Bonds and its first in Europe, with two bonds each at 1 billion euros (totalling nearly $2.2 billion).

The company has allocated more than half of its total Green Bond spend — $2.8 billion — and will continue to invest in projects that address carbon emissions.

"Apple is dedicated to protecting the planet we all share with solutions that are supporting the communities where we work," said Lisa Jackson, Apple's vice president of Environment, Policy, and Social Initiatives.

"We all have a responsibility to do everything we can to fight against the impacts of climate change, and our $4.7 billion investment of the proceeds from our Green Bond sales is an important driver in our efforts. Ultimately, clean power is good business," she said in a statement.

Since the historic climate change agreement at the 2015 United Nations Climate Change Conference (COP21) in Paris, Apple said it has invested the proceeds from three issuances of Green Bonds to support global efforts in carbon emissions reductions.

Last July, the company unveiled its plan to become carbon neutral across its entire business, manufacturing supply chain, and product life cycle by 2030.

"Apple is already carbon neutral today for its global corporate operations, and this new commitment means that by 2030, every Apple device sold will have net zero climate impact," the company said.