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As part of Apple's ongoing commitment to the environment, the company today announced a new $200 million "Restore Fund" that will develop new, financially viable initiatives to restore forests, removing carbon from the atmosphere.
The fund aims to generate meaningful financial returns on investments. Apple hopes this will convince other companies to follow its example and launch more forest restoration projects. Apple has set a goal of making the entire company 100 percent carbon neutral by 2030, including the carbon generated in the manufacture, use and disposal of its own products. The company has already been carbon neutral for its own operations since 2018. Apple states that the company will eliminate 75 percent of carbon emissions in its supply chain by 2030. The Forestry Fund will contribute to the remaining 25 percent. Lisa Jackson, vice president of environment, policy and social initiatives at Apple, explained:
Restore Fund: Goldman Sachs is also involved
Nature provides some of the best processes for removing carbon from the atmosphere. Forests, wetlands and grasslands remove carbon from the atmosphere and permanently sequester it in their soils, roots and branches. By creating a fund that creates both a financial return and real and measurable impact on atmospheric carbon levels, we aim to create broader change in the future and encourage investment in removing carbon from the atmosphere around the globe. We hope that others will share our goals and help protect important ecosystems.
The Restore Fund will use internationally standardized metrics to accurately track the amount of carbon removed from the atmosphere. Apple's partners in the fund include Conversation Internal and Goldman Sachs. The fund will announce new projects throughout the year. (Image: Apple)
