Apple announces a new first-of-its-kind new clean energy investment fund in China to create a bridge between the suppliers and renewable energy resources.
“At Apple, the team is proud to join with the companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple VP, Environment, Policy and Social Initiatives.
Ten suppliers will partner Apple to invest $300M in the diversified renewable energy solutions over the period of four years to support the Clean Energy Fund, as per a report.
With a positive note, Apple and its suppliers are looking forward to produce more than 4 gigawatt of new clean energy throughout the world by 2020 (which represents one-third of Apple’s existing developed electricity footprint).
“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 that make a significant positive impact on our planet” added Ms. Jackson.
The companies that are involved in the Clean Energy Invest Fund include Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication, and Wistron.
Apple along with its suppliers is also working on finding innovative ways to cut and eliminate greenhouse gas emissions. The tech company recently created a new technology – in collaboration with Alcoa Corporation and Rio Tinto Aluminum (aluminium suppliers) – that helps to eliminate direct greenhouse gas emissions from the traditional smelting process.