Apple to invest another $200 million in decarbonization fund: Report
Apple Inc. said Tuesday it is doubling its financial commitment to a fund it set up two years ago to invest in projects that remove carbon from the atmosphere.
The iPhone maker said it will invest up to $200 million more in its Restore Fund, which was established in 2021 and has an initial commitment of $200 million.
The additional investment is expected to help the fund launch new projects and continue its previously set goal of removing about one million tons of carbon dioxide per year, the company said.
Apple aims to be carbon neutral throughout its entire supply chain and the life cycle of each product by 2030.
The fund, launched with Goldman Sachs Group Inc. and nonprofit Conservation International, has invested in forest properties in Brazil and Paraguay over the past two years.
The expanded fund will be managed by Climate Asset Management, a joint venture between HSBC Asset Management and Pollination, Apple added.
“The Restore Fund is an innovative way of investing that delivers real, measurable benefits to the planet and seeks to generate financial returns,” said Lisa Jackson, Apple’s director of environmental, policy and social initiatives.
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