Apple said on Tuesday it had doubled its financial commitment to a fund created two years ago to invest in projects that remove carbon from the atmosphere.
The fund, launched with Goldman Sachs and a non-profit Conservation International, has invested in forest properties in Brazil and Paraguay over the past two years.
The company said it will invest an additional $200 million in the “Restore Fund,” created in 2021 with an initial $200 million investment commitment.
The additional amount is expected to help the fund kick-start new projects and advance its goal of removing about 1 million tons of carbon dioxide from the atmosphere annually, the company said.
Apple is focusing efforts to make the entire supply chain and lifecycle of all its products carbon neutral by 2030.
The expanded fund will be managed by Climate Asset Management, a joint venture of HSBC Asset Management and Pollination, Apple added.
Source: Terra
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