Energy Efficiency, Industrial, Sourcing Renewables - July 13, 2018
Apple launches $300 million clean energy fund in China
Apple announced on July 12 the creation of a new investment fund in China to increase the use of renewable energy within its supply chain. The company will join 10 initial suppliers to invest nearly $300 million over the next four years into the China Clean Energy Fund, which will invest in and develop clean energy projects totaling more than 1 gigawatt of renewable energy in China.
"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, in a statement from the company. "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."
Noting that the transition to clean energy can be complex, particularly for smaller companies that may not have access to viable clean energy sources, the statement continued, "By virtue of its size and scale, the China Clean Energy Fund will give its participants the advantage of greater purchasing power and the ability to attain more attractive and diverse clean energy solutions."The fund will be managed through a third party, DWS Group, which specializes in sustainable investments and will also invest in the fund.
This announcement follows Apple’s report in April that the company’s global facilities are now powered by 100% clean energy, as well as the launch of its Supplier Clean Energy Program in 2015. To date, 23 manufacturing partners, operating in more than 10 different countries, have committed to powering all of their Apple production with 100% clean energy, according to the statement. It is expected that Apple and its suppliers will generate more than 4 gigawatts of new clean energy worldwide by 2020, representing one-third of Apple’s current manufacturing electricity footprint.
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