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Apple announces $200 m fund to accelerate natural solutions for climate change

Our Bureau Mumbai | Updated on April 16, 2021

The initiative is part of Apple’s broader goal to become carbon neutral across its entire value chain by 2030

Apple has launched a $200-million fund, along with its partners to accelerate natural solutions for climate change.

Through the carbon removal initiative called the Restore Fund, it will make investments in forestry projects to remove carbon from the atmosphere while generating a financial return for investors, the company has said.

“Launched with Conservation International and Goldman Sachs, Apple’s $200 million fund aims to remove at least 1 million metric tons of carbon dioxide annually from the atmosphere, equivalent to the amount of fuel used by over 200,000 passenger vehicles, while demonstrating a viable financial model that can help scale up investment in forest restoration,” Apple said in an official release.

The initiative is part of Apple’s broader goal to become carbon neutral across its entire value chain by 2030. While the company will directly eliminate 75 per cent of emissions for its supply chain and products by 2030, the fund will help address the remaining 25 per cent of Apple’s emissions by removing carbon from the atmosphere.

“Apple is proud to be carbon neutral & by 2030 our products and manufacturing will be too. We take a new step today with a $200 million fund to invest in working forests, one of nature’s best tools to remove carbon,” CEO Tim Cook wrote on Twitter.

Published on April 16, 2021

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