Apple Launches New Clean Energy Fund in China

Apple® today announced a new first-of-its-kind investment fund in China
to connect suppliers with renewable energy sources. As part of Apple’s
commitment to address climate change and increase the use of renewable
energy within its supply chain, 10 initial suppliers and Apple will
jointly invest nearly $300 million over the next four years into the
China Clean Energy Fund. The fund will invest in and develop clean
energy projects totaling more than 1 gigawatt of renewable energy in
China, the equivalent of powering nearly 1 million homes.

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“At Apple, we are proud to join with companies that are stepping up to
address the climate challenge,” said Lisa Jackson, Apple’s vice
president of Environment, Policy and Social Initiatives. “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.”

Transitioning to clean energy can be complex. This is especially true
for smaller companies that may not have access to viable clean energy
sources. By virtue of its size and scale, the China Clean Energy Fund
will give its participants the advantage of greater purchasing power and
the ability to attain more attractive and diverse clean energy
solutions. The China Clean Energy Fund will be managed through a third
party, DWS Group, which specializes in sustainable investments and will
also invest in the fund.

Today’s news follows Apple’s announcement earlier this year that its
global facilities are powered by 100 percent clean energy and the launch
of its Supplier Clean Energy Program in 2015. Since that program began,
23 manufacturing partners, operating in more than 10 different
countries, have committed to powering all of their Apple production with
100 percent clean energy. Apple and its suppliers will generate more
than 4 gigawatts of new clean energy worldwide by 2020 — representing
one-third of Apple’s current manufacturing electricity footprint.

Apple is also working with its suppliers to find new ways to reduce
greenhouse gas emissions. The company recently announced it reached a
breakthrough with aluminum suppliers Alcoa Corporation and Rio Tinto
Aluminum on a new technology that eliminates direct greenhouse gas
emissions from the traditional smelting process, a key step in aluminum
production.

The initial suppliers participating in the China Clean Energy Fund
include:

• Catcher Technology
• Compal Electronics
• Corning Incorporated
• Golden Arrow
• Jabil
• Luxshare-ICT
• Pegatron
• Solvay
• Sunway Communication
• Wistron

For more on Apple’s environmental initiatives, visit
apple.com/environment.

Apple revolutionized personal technology with the introduction of the
Macintosh in 1984. Today, Apple leads the world in innovation with
iPhone, iPad, Mac, Apple Watch and Apple TV. Apple’s four software
platforms — iOS, macOS, watchOS and tvOS — provide seamless experiences
across all Apple devices and empower people with breakthrough services
including the App Store, Apple Music, Apple Pay and iCloud. Apple’s more
than 100,000 employees are dedicated to making the best products on
earth, and to leaving the world better than we found it.

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trademarks of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180712005883/en/

Source: Business Wire
(July 12, 2018 - 7:00 PM EDT)

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