Apple Inc. launched a $200 million investment fund with Conservation International Foundation and The Goldman Sachs Group Inc. to remove at least 1 million metric tons of carbon dioxide from the atmosphere each year.
The Restore Fund will make investments in forestry projects to remove carbon from the atmosphere while generating a financial return for investors, Apple said in an April 15 news release.
Apple aims to directly eliminate 75% of emissions for its supply chain and products by 2030. The company expects to remove the remaining 25% through the Restore Fund.
In March, the iPhone-maker said more than 110 of its manufacturing partners globally are shifting their production to 100% renewable energy, a move that is expected to result in almost 8 gigawatts of planned clean energy coming online while avoiding more than 15 million metric tons of carbon dioxide equivalent per year.
Apple also allocated $2.8 billion of its intended $4.7 billion green bonds to fund 17 environmental initiatives worldwide.
Conservation International is a co-investor in the Restore Fund, while Goldman Sachs is managing the fund.
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