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BNP Paribas underwrites Apple €2b green bond raising

BNP Paribas underwrites Apple €2b green bond raising

(11 November 2019 - France) Apple has raised €2 billion in green bonds, its first green bond raising denominated in Euros, the raising is one of the biggest sustainable debt deals in Europe amid rising demand for eco-friendly fixed-income.

Moody’s reported that US$189.5 billion of green debt was priced through Q1 to Q3 2019, outpacing 2018 year total of US$171.1 billion with issuance forecast to surpass US$250 billion by the end 2019 according to the ratings agency.

“We're proud to act as an underwriter for Apple's €2 billion green bond that will be used to lower carbon emissions across their supply chain and support the energy transition. This raising brings further diversity to the European green bond market” stated BNP Paribas Head of Sustainable Capital Markets, Agnes Gourc.

“Apple is unwavering in its commitment to addressing the urgent threat of climate change. With the bond proceeds we will accelerate our work to lower carbon emissions across our supply chain and beyond, building on our successful transition to 100 per cent renewable energy” said Apple Environment, Policy and Social Initiatives VP Lisa Jackson.

Capgemini's 2019 World Energy Markets Observatory report finds that governments and corporates are losing the battle against curbing greenhouse gas emissions. Emissions rose 2 percent globally last year, up from 1.6 percent in 2017 driven by growing energy consumption and a reliance on fossil fuels in economic powerhouses such as China, India and the U.S. Emissions increased 6.3 percent in India, 3.4 percent in the U.S. and 2.3 percent in China, consultancy Capgemini said in its World Energy Markets Observatory report. “The report figures are a wake-up call for the world. With global energy demand rising and mostly being met by fossil fuel consumption, the objectives of the Paris accord are looking more distant than ever” stated Capgemini Global Head of Energy and Utilities, Philippe Vié.

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