Apple leads US$300 million China renewables fund

Apple leads US$300 million China renewables fund

Apple leads US$300 million China renewables fund

The company and 10 initial suppliers will jointly invest nearly US$300 million over the coming four years into the new China Clean Energy Fund.

Ten initial suppliers and Apple will jointly put money into the China Clean Energy Fund over the next four years.

The fund itself will be managed by Deutsche Bank subsidiary DWS Group, which has also made an investment.

Apple suppliers that are participating in the fund include Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Catcher Technology, Luxshare-ICT, Pegatron, Solvay, Sunway Communication, and Wistron. Since then, 23 manufacturing partners in 10 countries have all committed to following Apple's example.

Back in April this year, Apple became the world's first major tech company to be powered by 100 percent renewable energy.

It launched its Supplier Clean Energy Program back in 2015.

Former UK minister calls for second vote on Brexit to end stalemate
She said her proposal is the only way to prevent a hard border between Northern Ireland and Ireland after Brexit, while also protecting supply chains and the jobs that depend on them.

Apple added that while transitioning to renewable energy sources and practices isn't always easy, particularly for smaller firms, this new fund will help make using clean energy a more achievable option for all business who operate in China.

Apple is investing in over 485 megawatts of clean energy projects across six provinces in China, to address upstream emissions in our supply chain. Also is working with 10 of its global suppliers.

Apple isn't talking, but as the company's aim is to support "localized solutions", the list of suppliers that have so far pledged to the 100 percent renewable electricity goal have manufacturing footprints that extend into France, India, Japan, the Netherlands, the United States and Vietnam.

For many years now, Apple has been harnessing clean energy sources for its data center in North Carolina.

Cutting pollution has been made a key priority by China's government, pressuring both local and worldwide companies to assist in cleaning up the nation's polluted soil and waterways while also reducing high levels of smog now in China's major cities.

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