Apple has announced that it will be investing $300 million USD in the China Clean Energy Fund.
On Thursday, Apple and several of its suppliers announced their plan to invest a staggering $300 million USD to the China Clean Energy Fund. The fund is part of China’s renewable energy project which aims to generate at least 1 gigawatt of energy to power at least a million homes.
According to reports, the U.S.-based tech company, which has been a vocal advocate of sustainable energy usage, hopes to boost the use of renewable power in its supply chain scattered across China. Apple, together with its ten primary manufacturing partners, including Pegatron Corp., Corning Inc., and Wistron Corp., will contribute the $300 million USD to the fund in the next four years.
“At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” Lisa Jackson, Apple’s vice president of environment, policy, and social initiatives, said.
“We are 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.”
For nearly a decade, Apple has continuously been committed to its efforts to go green. Back in 2015, the company announced that it would only be using clean energy in its supply chain with the hope of creating about 4 gigawatts of renewable energy worldwide by 2020.
Back in April of this year, the company had initially commissioned a Bay Area solar contractor to build a solar energy facility for its North Carolina data center. However, the company ended up building a biogas fuel cell and three solar farms for the data center instead.
Today, 100 percent of Apple facilities around the world are being run on renewable energy.
“Apple’s mission has never wavered. We are here to change the world… it’s why we continuously strive to do more with less—reducing our impact on the Earth we all share, while expanding and redefining the possibilities ahead,” Apple said in its environmental responsibility report this year.
If successful, the China Clean Energy Fund will serve as a model that could be used in other markets.