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Apple launches $200 million fund to pioneer carbon removal project

2021-06-21

Apple announced today (15th) the launch of the Restore Fund, an industry-first carbon removal program that will directly invest in forestland projects to remove carbon from the atmosphere while generating financial returns for investors. Apple stated on its official website that this $200 million (approximately NT$5.67 billion) fund, jointly launched with Conservation International and Goldman Sachs, will strive to remove at least 1 million metric tons of carbon dioxide from the atmosphere each year, equivalent to the amount of fuel consumed by more than 200,000 passenger cars. It also demonstrates a viable financial model to help expand investment in forest restoration. The Restore Fund is part of Apple's goal to achieve carbon neutrality in its value chain by 2030. Apple will directly eliminate 75% of carbon emissions from its supply chain and products by 2030, and this fund will remove carbon from the atmosphere to help address Apple's remaining 25% of carbon emissions. Source: Environmental Information Center

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