Apple today announced an investment fund list that it is planning in China to connect suppliers with renewable energy sources. This as a part of Apple’s commitment to address climate change and increase the use of renewable energy within its supply chain. Along with 10 initial suppliers, Apple will jointly invest nearly $300 million over the next four years into the China Clean Energy Fund.
The funding will invest in the development of clean energy projects totaling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes. Since the transition to clean energy can be complex especially for smaller companies as that may not have access to viable clean energy sources, 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 from earlier this year where it said that its global facilities are powered by 100% clean energy.
Apple said that since the launch of the program 23 manufacturing partners, operating in more than 10 different countries, have committed to powering all of their Apple production with 100 percent clean energy. Furthermore, the company said that with its suppliers, it will generate more than 4 gigawatts of new clean energy worldwide by 2020. The initial suppliers participating in the China Clean Energy Fund include Catcher Technology include Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication, Wistron.
Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives said:
At Apple, we are proud to join with companies that are stepping up to address the climate challenge. 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.