Apple has announced that it will contribute an additional $200 million to its Restore Fund, which was established two years ago to invest in projects that remove carbon from the atmosphere. This brings the company’s total commitment to the fund to $400 million.
The Restore Fund, which was launched in 2019 by nonprofit Conservation International and Goldman Sachs Group Inc., has invested in forest properties in Brazil and Paraguay to remove carbon from the atmosphere. With this additional investment, the fund is expected to start new projects and double its previously stated goal of removing approximately 1 million metric tons of carbon dioxide annually.
Apple has set a goal to become carbon neutral across its entire supply chain and product life cycle by 2030. The company has made significant strides in this direction, with all of its global facilities already powered by 100% renewable energy. Additionally, Apple has reduced its carbon footprint by 40% since 2015.
The expanded fund will be managed by Climate Asset Management, a joint venture between HSBC Asset Management and Pollination. Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives, described the Restore Fund as “an innovative investment approach that generates real, measurable benefits for the planet while aiming to generate a financial return.”
Apple’s commitment to the Restore Fund reflects the company’s dedication to reducing its impact on the environment and promoting sustainability. With this additional investment, Apple is taking a significant step towards achieving its goal of becoming carbon neutral and creating a better future for the planet.
