Apple to Launch $99 Million Clean Energy Fund in China

Apple Inc. has unveiled a new clean energy investment fund in China, committing 720 million yuan ($99.22 million) to bolster the nation's renewable energy infrastructure.

This announcement coincides with CEO Tim Cook's visit to Beijing, underscoring Apple's dedication to environmental sustainability within its global operations.

This initiative marks the second phase of Apple's China Clean Energy Fund, originally established in 2018. 

The initial phase saw Apple and 10 suppliers jointly invest nearly $300 million over four years to develop over 1 gigawatt of renewable energy projects in China, equivalent to powering nearly 1 million homes.

Apple's commitment to renewable energy is part of its broader goal to transition its entire supply chain to 100% renewable energy by 2030. As of 2020, over 70 suppliers in 16 countries had pledged to use 100% clean energy for Apple production, representing nearly 8 gigawatts of commitments.

The new fund aims to expand clean energy capacity in China, further assisting Apple in achieving its environmental objectives.

Currently, two-thirds of Apple's supply chain in China utilizes renewable energy, and this investment is expected to accelerate the adoption of clean energy among its manufacturing partners.

Apple's ongoing efforts in China reflect a strategic approach to environmental responsibility, aligning with global sustainability trends and reinforcing its position as a leader in corporate environmental stewardship.