Apple Expands Clean Energy Commitment in China with New $100 Million Fund
Apple is reinforcing its commitment to sustainability in China with the launch of a second-phase clean energy fund, investing up to 720 million yuan (approximately $100 million). This initiative builds on the success of Apple's first China Clean Energy Fund, established in 2018, and aims to enhance renewable energy capacity while supporting the company's ambitious 2030 carbon neutrality goals.
The newly announced fund, managed by Schroders, seeks to add approximately 550,000 megawatt-hours of wind and solar energy generation to China's power grid annually. This figure is expected to grow as more investors join the initiative. The fund provides an additional financing avenue for enterprises—including Apple's suppliers—committed to procuring high-impact clean energy solutions in China.
Apple's Chief Operating Officer Jeff Williams emphasized the company's dedication to advancing sustainable manufacturing, stating, “Our suppliers in China are making world-class advances in smart and green manufacturing. With the second phase of the China Clean Energy Fund, we are proud to deepen our collaboration with suppliers to drive innovation that benefits our shared planet.”
Apple's first China Clean Energy Fund has already exceeded its original targets, facilitating over one gigawatt of wind and solar projects across 14 provinces. This initiative has been instrumental in broadening access to renewable energy for suppliers of all sizes, while accelerating the development of new projects. The second-phase fund will replicate this approach, with a particular focus on supporting early-stage renewable energy projects.
Beyond benefiting China's energy transition, the new fund will also contribute to Apple's broader sustainability strategy. The company has set a target to achieve carbon neutrality across its entire supply chain and product lifecycle by 2030. As part of this initiative, Apple collaborates closely with suppliers to transition their production processes to 100% renewable energy. Currently, approximately two-thirds of Apple's manufacturing operations in China are already powered by renewables, with contributions from over 100 suppliers.
Apple's efforts to transition its global supply chain to renewable energy have played a pivotal role in its broader climate strategy. Since 2015, the company has successfully reduced its total greenhouse gas emissions by over 55%, demonstrating its leadership in corporate sustainability.
Apple CEO Tim Cook underscored the significance of the initiative in a post on Weibo, stating, “Two-thirds of our supply chain in China is already running on renewable energy, and this new fund will help us take another step toward our 2030 goal of 100% renewable energy.”
Cook's announcement coincided with his recent visit to China, where he attended the China Development Forum in Beijing and engaged with government officials. During a meeting with Ren Hongbin, chairman of the China Council for the Promotion of International Trade, Cook acknowledged China's efforts to boost domestic consumption and reiterated Apple's commitment to fostering stable and sustainable U.S.-China business relations.
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