Apple Inc. announced that it will partner with suppliers to invest nearly US$300 million over the next four years into the China Clean Energy Fund, as part of its commitment to address climate change and increase the use of renewable energy within its supply chain.
The fund will invest in and develop clean energy projects totalling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes.
Ten initial suppliers including Taiwanese original design manufacturer Compal Electronics, Taiwanese computer and consumer electronics manufacturer Catcher Technology Co. Ltd., and U.S. manufacturing service company Jabil and others, will join Apple in the fund.
"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."
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.
Apple launched its supplier clean energy program in 2015 and it said since the program began, it has 23 manufacturing partners from 10 countries committed to powering all of their Apple production with 100% clean energy.