Apple yesterday, July 12, announced the opening of its new investment fund in China to encourage the use of renewable energy.
Initially, 10 suppliers and Apple will jointly invest about $300 million into the China Clean Energy Fund for the next four years. This will lead to producing over 1 gigawatt of renewable energy in the country, the amount that’s equal to powering around 1 million homes.
Smaller companies without access to clean energy sources will be benefitted by the size and scale of the China Clean Energy Fund. It can provide greater purchasing power and attain diverse clean energy solutions while being managed by DWS Group, who are also investors to the fund.
The 10 initial suppliers taking part in the fund are Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication, and Wistron.
Alongside working around the fund, Apple is collaborating with suppliers to find innovative ways to reduce greenhouse gas emissions. The tech giant already announced a breakthrough on this via coming up with a new technology that can eliminate direct greenhouse gas emissions from traditional smelting process. This technology was co-developed with Rio Tinto Aluminium and Alcoa Corporation and is an element that progresses the evolution of aluminum production.
Apple also has all of its global facilities powered by 100% clean energy. Its 2015 launch of the Supplier Clean Energy Program saw 23 manufacturing partners operating in 10 countries powering all Apple productions with cent percent clean energy. The aim is to globally produce over 4 gigawatts of new clean energy in 2020.