Apple Inc has announced on Tuesday it will invest an additional $200 million in its Restore Fund, which established in 2021, according to Reuters published on Tuesday.
Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives explained to Reuters the goal of Restore Fund, saying it “is an innovative investment approach that generates real, measurable benefits for the planet, while aiming to generate a financial return.”
Apple had previously announced it aims to remove about one million metric tons of carbon dioxide per year. The new added investment is expected to duplicate this goal.
The iPhone-maker hopes to become carbon neutral in its entire supply chain by 2030. The fund was launched with Goldman Sachs Group Inc and Conservation International.
It is to be managed by Climate Asset Management and will invest in projects which remove carbon from the atmosphere. Last two years, the fund had invested in forest properties in Brazil and Paraguay.
