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As part of the expansion of its environmental initiatives, Apple announced a $ 300 million fund for promoting clean energy in China.
The iPhone manufacturer said that it has created the fund to promote the use of renewable energy in its supply chain, which is widely spread in different regions of the country. China. The company and 10 of its major suppliers and industry partners, such as Corning, Pegatron, Wistron and Luxshare Precision Industry, will contribute to the fund over the next four years, the California-based Cupertino said in a statement.
The fund will be managed by DWS Group GmbH & Co., the Deutsche Bank AG branch dedicated to asset management. In turn, DWS will invest in the fund.
Money will go to to develop projects for a total of one gigawatt of renewable energy in China said Apple. In 2015, the company is committed to using clean energy in its supply chain and said that it hopes to generate 4 gigawatts of renewable energy in the world by 2020, an increase from the target of 3 gigawatts announced this year.
Right now, Apple uses renewable energy in 100% of its plants around the world. This year, the company also helped aluminum supplier Alcoa and Rio Tinto Aluminum to launch the development of a new technology capable of eliminating greenhouse gases during the production that , according to forecasts, would be ready by 2024.
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