Apple recently announced a $200 million investment in a fund focused on reducing carbon emissions in the atmosphere. The firm seeks to assist sustainable forestry while also making a profit. Apple intends to increase its “Restore Fund” commitment to high-quality, nature-based carbon reduction initiatives by doubling it.
The corporation, led by Tim Cook, said that it will increase investment in the Apple Restore Fund in order to build a new portfolio of “carbon removal projects.”
The $200 million investment aims to remove 1 million metric tonnes of CO2 from the environment each year, which is comparable to the yearly fuel use of more than 200,000 passenger automobiles.
This initiative is noteworthy because it might serve as a model for other businesses to demonstrate the possibility of profitability through environmental expenditures.
Apple’s Vice President of Environment, Policy, and Social Initiatives, Lisa Jackson, claimed that “the idea of having a return is important for the planet.”
Apple has already achieved carbon neutrality for its corporate activities, and it is in talks with its suppliers to reach carbon neutrality for all company-related operations by 2030.
In April 2021, Apple formed the inaugural $200 million Restore Fund, which focused on long-term investments.
The $200 million investment will be managed by Climate Asset Management, a joint venture between HSBC Asset Management and Pollination.
Apple’s first three investments are in Brazil and Paraguay, with the objective of restoring 150,000 acres of sustainability-certified working forests and safeguarding 100,000 acres of natural forests, grasslands, and wetlands.
