Apple has announced a new investment fund in China to connect suppliers with renewable energy sources. A total of 10 initial suppliers and Apple will jointly invest nearly USD 300 million over the next four years into the China Clean Energy Fund, which aims to 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. The fund will be managed through a third party, DWS Group, which specialises in sustainable investments and will also invest in the fund.
In its statement, Apple said its global facilities are currently powered by 100 percent clean energy and that it will generate more than 4 gigawatts of new clean energy worldwide by 2020 together with its suppliers. Earlier this year, the company said it helped aluminum suppliers Alcoa Corporation and Rio Tinto Aluminum reach a breakthrough on a new technology that eliminates greenhouse gas emissions during production, which is expected to be ready by 2024.
