Apple announced on July 13 a first-of-its-kind investment fund in China to connect suppliers to renewable energy sources.
The company also announced that the 10 initial suppliers and it will jointly invest $300 million over the next four years into the China Clean Energy Fund.
The fund will invest in and develop clean energy projects totalling more than one gigawatt of renewable energy in China, the equivalent of powering nearly one 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.”
The China Clean Energy Fund will be managed through a third party, the DWS Group, which specialises in sustainable investments and will also invest in the fund.
The news follows Apple’s earlier announcement that its global facilities are powered by 100% clean energy and the launch of its Supplier Clean Energy Programme in 2015.
The initial suppliers participating in the China Clean Energy Fund are: