wiredinUSA August 2018

Apple’s bite in funding renewables M A K I N G T H E NEWS

Apple has created a new investment fund in China to connect suppliers with renewable energy sources. As part of Apple’s commitment to address climate change and increase the use of renewable energy within its supply chain, ten initial suppliers and Apple will jointly invest nearly $300 million into the China Clean Energy Fund over the next four years. The fund will invest in, and develop, clean energy projects in China totaling over 1GW. “At Apple we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s vice president of environment, policy and social initiatives. “We’re 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.” Transitioning to clean energy can be complex, and this is especially true for smaller companies that may not have access to viable clean energy sources. By virtue of its size and scale, the fund will give its participants the advantage of greater purchasing power and the ability to attain more attractive and diverse clean energy solutions. The China Clean Energy Fund will be managed through a third party, DWS Group, which specializes in sustainable investments and will also invest in the fund.

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wiredInUSA - August 2018