Apple Launches New Clean Energy Fund in China
Jul. 12, 2018
CUPERTINO, Calif.--(BUSINESS WIRE)--Jul 12, 2018--Apple® today announced a new first-of-its-kind investment fund in China to connect suppliers with renewable energy sources. As part of Apple’s commitment to address climate change and 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 clean energy projects totaling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes.
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A photovoltaic facility in Sichuan province, China contributes to Apple’s 100 percent clean energy profile. (Photo: Business Wire)
“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.”
Transitioning to clean energy can be complex. This is especially true for smaller companies that may not have access to viable clean energy sources. 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 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.
Today’s news follows Apple’s announcement earlier this year that its global facilities are powered by 100 percent 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 percent clean energy. 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.
Apple is also working with its suppliers to find new ways to reduce greenhouse gas emissions. The company recently announced it reached a breakthrough with aluminum suppliers Alcoa Corporation and Rio Tinto Aluminum on a new technology that eliminates direct greenhouse gas emissions from the traditional smelting process, a key step in aluminum production.
The initial suppliers participating in the China Clean Energy Fund include:Catcher Technology Compal Electronics Corning Incorporated Golden Arrow Jabil Luxshare-ICT Pegatron Solvay Sunway Communication Wistron
For more on Apple’s environmental initiatives, visit apple.com/environment.
Apple revolutionized personal technology with the introduction of the Macintosh in 1984. Today, Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to leaving the world better than we found it.
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Keri Fulton, 240-595-2691
KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA CHINA CALIFORNIA
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY TECHNOLOGY CONSUMER ELECTRONICS HARDWARE SOFTWARE ENVIRONMENT
SOURCE: Apple Inc.
Copyright Business Wire 2018.
PUB: 07/12/2018 07:00 PM/DISC: 07/12/2018 07:01 PM