Apple has announced that it will be joining with its Chinese suppliers to create a $300 million investment fund for a new environmental project to connect suppliers with renewable energy sources. The China Clean Energy Fund will work over the next four years to invest in and develop clean energy projects with a goal of producing more than one gigawatt of renewable energy in China — equal to the energy required to power about one million homes.
The new fund will help suppliers deal with the complexities of transitioning to clean energy by leveraging greater purchasing power, and will be managed through a third party, DWS Group, a company specializing in sustainable investments. ”At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives.
“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.”
.
