Apple Announces $300 Million Clean Energy Fund in China

One of the largest smartphone manufacturer, Apple said on Friday that it has established a fund to invest nearly $300 million which is roughly Rs. 2,000 crores over the next four years to connect its Chinese suppliers for the work of renewable energy as Beijing pushes an anti-pollution drive.

The America based giant company said that it has 10 initial suppliers which would jointly provide the money for the China Clean Energy Fund, which is aiming at helping the companies make the transition to clean energy with the help of it.

Apple in a statement said the project would produce an initial one gigawatt of clean energy, equivalent to powering nearly a million homes.

Moreover, Apple products are assembled worldwide in vast production in China that give jobs to thousands of workers, and the company is working so hard and taking various several measures to reduce carbon emission.

The Apple headquarter which is based out of Cupertino, California, had gone 100 percent renewable and announced initiatives to achieve the same in other Apple facilities across the globe which will help them to make environment clean.

“Apple’s mission has never wavered. We are here to change the world… it’s why we continuously strive to do more with less—reducing our impact on the Earth we all share, while expanding and redefining the possibilities ahead,” Apple executive wrote in its 2018 environmental responsibility report.

China has brought the side effects of severe soil, air and water pollution from last four-decade transition into an industrial behemoth and the government is pushing various initiatives to clean things up including incentives for renewable energy and the electric-car industry.

Among other projects, in the year 2016 Apple said that it had bought a 30 percent stake in subsidiaries of China-based Startup Goldwind, which is the world’s largest wind turbine maker, to produce renewable energy at this point of time.