Apple has announced a new investment fund in China to connect suppliers with renewable energy sources.
As part of Apple’s commitment to increase the use of renewable energy within its supply chain, 10 initial suppliers and Apple will jointly invest nearly $300 million over the next four years into the China Clean Energy Fund. The fund will invest in and develop projects totaling more than 1 GW of renewable energy in China.
“At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” says 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, DWS Group, which specializes in sustainable investments and will also invest in the fund.
The news follows Apple’s announcement earlier this year that its global facilities are powered by 100% clean energy and the launch of its Supplier Clean Energy Program in 2015. Since that program began, 23 manufacturing partners, operating in more than 10 different countries, have committed to powering all of their Apple production with 100% clean energy. Apple and its suppliers expect to generate more than 4 GW of new clean energy worldwide by 2020 – representing one-third of Apple’s current manufacturing electricity footprint.
The initial suppliers participating in the China Clean Energy Fund include as follows:
- Catcher Technology
- Compal Electronics
- Corning Inc.
- Golden Arrow
- Sunway Communication