Apple buying carbon-free aluminum for iPhone SE to reduce carbon footprint
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Apple (NASDAQ:AAPL) said on Thursday that as part of its $4.7 billion in green bonds that it previously issued, it was buying its first group of carbon-free aluminum to reduce its carbon emissions.
The metal will be used in its iPhone SE and is the first aluminum to be manufactured at industrial scale outside of a laboratory without creating emissions during smelting.
âApple is committed to leaving the planet better than we found it, and our Green Bonds are a key tool to drive our environmental efforts forward,â said Lisa Jackson, Appleâs vice president of Environment, Policy, and Social Initiatives, in a statement. 
âOur investments are advancing the breakthrough technologies needed to reduce the carbon footprint of the materials we use, even as we move to using only recyclable and renewable materials across our products to conserve the earthâs finite resources.â
Apple (AAPL) shares were up nearly 1% to $171.82 in early trading on Thursday.
The Cupertino, California-based Apple (AAPL) did not disclose the size or cost of the purchase, but noted it is helping support Apple to become carbon neutral across its supply chain by 2030.
The green bonds, issued in 2019, are supporting 50 projects, including the aforementioned carbon-free aluminum, that will offset 2.8 million metric tons of carbon dioxide equivalent, install roughly 700 megawatts of renewable energy and promote more research and development for recycling.
On Wednesday, Wedbush Securities analyst Dan Ives said Apple (AAPL) was seeing "stellar" iPhone 13 demand, while adding that the supply chain is also showing improvements.