Apple today announced a “first-of-its-kind carbon removal initiative” called the Restore Fund that will make investments in forestry projects to remove carbon from the atmosphere while generating a financial return for investors.
Launched with Conservation International and Goldman Sachs, Apple says the $200 million fund aims to remove at least one million metric tons of carbon dioxide annually from the atmosphere, equivalent to the amount of fuel used by over 200,000 passenger vehicles, with a viable financial model aimed at increasing investment in forest restoration.
Apple says this effort is part of the company’s goal to become carbon neutral across its entire “value chain” by 2030. Apple plans to directly eliminate 75 percent of emissions for its supply chain and products by 2030, while the fund will help address the remaining 25 percent of Apple’s emissions by removing carbon from the atmosphere.
More details to follow…