Apple launches $300m renewable energy fund for China

The phonemaker plans to add 4GW of renewable energy across its global valuechain by 2020

FILE PHOTO: The Apple logo is pictured inside the newly opened Omotesando Apple store at a shopping district in Tokyo June 26, 2014. REUTERS/Yuya Shino/File Photo

Apple expanding its environmental efforts announced a $300 million fund to promote clean energy in China.

The iPhone maker said it’s creating the fund to boost the use of renewable energy in its supply chain, which is primarily spread across regions in China. The company and 10 of its key suppliers and manufacturing partners, including Corning, Pegatron Corporation, Wistron Corporation and Luxshare Precision Industry Company, will contribute to the fund over the next four years, the Cupertino, California-based company said Thursday in a statement.

The money will go toward developing projects totalling a gigawatt of renewable energy in China, Apple said. In 2015, Apple committed to using clean energy in its supply chain and has said it hopes to create 4GW of renewable energy globally by 2020, an increase from a goal of 3GW announced earlier this year.

Currently, Apple uses renewable energy across 100 per cent of its facilities worldwide. Earlier this year, the company also helped aluminium suppliers Alcoa Corporation and Rio Tinto Aluminum kickstart development of a new technology that eliminates greenhouse gas emissions during production, which is expected to be ready by 2024.

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