Apple Launches Clean Energy Fund in China, Will Invest Nearly $300 Million
Apple has announced a new clean energy fund in China “to connect suppliers with renewable energy sources,” with initial 10 supplier partners and the iPhone maker committed to invest nearly $300 million over the next four years into the endeavour.
A photovoltaic facility in Sichuan province, China contributes to Apple’s 100 percent clean energy profile.
The China Clean Energy Fund will “invest in and develop clean energy projects totaling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes.”
“At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives. “We’re thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet.”
According to Apple, as a combined group, suppliers will be able to leverage greater purchasing power and “attain more attractive and diverse clean energy solutions.” The China Clean Energy Fund will be managed by one of their investors, the DWS Group, a third party which focuses on sustainable investments.
The China Clean Energy Fund will include the following initial suppliers:
Apple says since the launch of their Supplier Clean Energy Program in 2015, 23 manufacturing partners in over 10 different countries have pledged to power all of their Apple production with 100 percent clean energy.
Back in April, Apple announced its global facilities were now powered with 100 percent clean energy, including retail stores, offices, data centers and co-located facilities in 43 countries.