Apple with 10 suppliers will invest in the fund that will prepare projects of 1 gigawatt of renewable energy – enough to power almost one million homes
American technology giant, Apple announced on Thursday that it has joined hands with 10 different suppliers to invest US$ 300 million into the China Clean Energy Fund over the next four years. This move marks Apple’s commitment to address climate change and encourage the use of more renewable energy within its supply chain.
Ability to attain attractive and diverse clean energy solutions
China Clean Energy Fund will offer its participants the facility of greater purchasing power and the capability to obtain more attractive and diverse clean energy solutions. This will be especially helpful for small companies that probably don’t have access to valid clean energy sources and will find the shift to clean energy complicated. The fund will be used in and develop clean energy projects accumulating as over 1 gigawatt of renewable energy in China, which is equivalent to power approximately one million homes. The China Clean Energy Fund will be managed by a third party namely DWS Group that specialises in sustainable investments. DWS Group is also one of the ten suppliers of the fund.
Speaking about the investment, Lisa Jackson, Apple’s vice president of Environment Policy and Social Initiatives, stated that it is a proud moment for Apple to join with the ten companies “that are stepping up to address the climate change.” She added, “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.”
Apple’s global facilities are powered by 100 per cent clean energy
Since the launch of Apple’s Supplier Clean Energy Programme in 2015 and its declaration earlier this year that the firm’s global facilities are powered by 100 per cent clean energy,
Apple had launched Supplier Clean Energy Programme in 2015 and had declared only earlier this year that its global facilities are powered by 100 per cent clean energy. Following these achievements, 23 manufacturing partners of Apple that operate in over 10 varied nations, have shown commitment to power all Apple products of theirs with 100 per cent clean energy. The American tech giant and its suppliers will contribute over 4 gigawatts of new clean energy to the world by 2020. This will represent one-third of Apple’s current manufacturing electricity footprint.
Besides the clean energy, Apple is also working with its suppliers to discover newer ways to decrease greenhouse gas emissions. In fact, the company had recently stated that it has reached a deal with aluminium suppliers Alcoa Corporation and Rio Tinto Aluminium on a new technology, which removes direct greenhouse gas emissions from the traditional smelting process – a key step in aluminium production.