Stockholm (NordSIP) – Apple has launched a new clean energy fund in China as part of its commitment to address climate change and increase the use of renewable energy within its supply chain, it emerged last week.
Apple will invest almost $300 million over the next four years together with 10 initial suppliers into the China Clean Energy Fund, which will invest in clean energy projects amounting to over 1 gigawatt of renewable energy in China.
“At Apple, we are proud to join with the companies that are stepping up to address the climate challenge,” said Apple Vice President of Environment, Policy and Social Initiatives Lisa Jackson. “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.”
The China Clean Energy Fund will be managed by the DWS Group, which specialises in sustainable investments and which will also invest in the fund. The DWS Sustainable Investments team manages assets worldwide combining financial returns with measurable results for the environment, focusing primarily on medium to long-term, non-traded equity and debt capital investments. It also manages microfinance funds, providing access to banking services for those with the least financial resources.
The China Clean Energy Fund is intended to give participants the advantage of greater purchasing power and the ability to attain more attractive and diverse clean energy solutions. The initial suppliers participating in the fund include: Catcher Technology, Compal Electronics, Corning Incorporated, Golden Arrow, Jabil, Luxshare-ICT, Pegatron, Solvay, Sunway Communication and Wistron.
The initiative comes at a time when investors are worried that the escalating trade war between the United States and China could hurt Apple’s fortunes in the country.
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