Apple Inc. has announced the launch of a $99 million (720 million yuan) clean energy fund in China, marking a significant step toward its goal of transitioning its global supply chain to 100% renewable energy by 2030. The announcement coincided with CEO Tim Cook’s visit to Beijing, underscoring the company’s commitment to sustainability and innovation.
The new initiative, known as the second phase of the China Clean Energy Fund, aims to add approximately 550,000 megawatt-hours of wind and solar energy annually to China’s power grid. Managed by Schroders, the fund builds on the success of its predecessor, which was launched in 2018 and resulted in over 1 gigawatt of renewable energy projects across 14 provinces.
Apple’s Chief Operating Officer, Jeff Williams, highlighted the importance of collaboration with suppliers to drive advancements in green manufacturing. Currently, about two-thirds of Apple’s production in China is powered by renewable energy, with contributions from over 100 suppliers.
This latest investment reinforces Apple’s leadership in environmental sustainability and its dedication to reducing its carbon footprint. The fund is expected to support early-stage renewable energy projects, further expanding access to clean energy for businesses of all sizes in China.
