Apple to Invest $300 Million in China Clean Energy Fund
Apple is also working to develop newer materials and technologies to reduce greenhouse gas emissions
July 16, 2018
Apple, a global tech giant has announced it will invest $300 million in the China Clean Energy Fund over the next four years.
In a media statement, the company announced that it has partnered with ten suppliers: Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication, and Wistron to develop 1 GW of renewable energy in China.
“We are 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,” said Lisa Jackson, vice president of Apple’s environment, policy and social initiatives.
The China Clean Energy Fund will be managed by a third party, DWS Group, which specialises in sustainable investments and will also invest in the fund. Its size and scale will give an advantage to the participants to experiment with diverse clean energy solutions.
Earlier this year, Apple had announced that all its global facilities are powered by 100 percent clean energy sources. It had also launched a supplier clean energy program in 2015 and 23 manufacturing partners, operating in more than 10 different countries, have pledged to use 100 percent clean energy in manufacturing of Apple products.
Apple is also working with its partners to develop newer materials and technologies to reduce greenhouse gas emissions. It has developed a new technology that eradicates direct greenhouse gas emissions in the aluminum smelting process with aluminum suppliers like Alcoa Corporation and Rio Tinto Aluminum.
With time and rising awareness, many tech giants, both Indian and global, are making investments in clean energy for a sustainable way of meeting their energy needs.
In March 2018, Microsoft announced the completion of its first renewable energy deal in India. The agreement with Atria Power for its new office building in Bengaluru would meet 80 percent of the projected electricity needs. Once completed, this project would make Microsoft’s total global direct procurement in renewable energy projects nearly 900 MW.
Likewise, Infosys, India’s software multinational giant, recently announced that it has developed a total capacity of 46.1 MW of rooftop and ground-mounted solar projects across the country.
Nitin Kabeer
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