Apple launches $300m clean energy fund in China

Apple has launched a new clean energy fund in China, aimed at providing enough energy to power almost one million homes.

The tech giant and 10 partners will jointly invest $300m (£228m), which will connect suppliers with renewable energy sources.

The California-based group said the fund will develop projects “totalling more than one gigawatt of renewable energy in China”.

The China Clean Energy Fund will address the issues smaller companies often have in accessing alternative energy sources, by giving participants greater purchasing power, Apple said.

China has a serious pollution problem and along with India, it accounts for more than half of all global deaths due to ambient air pollution.

Last year, the Chinese government was forced to ban construction in Beijing in a bid to tackle the issue, and Apple has previously built solar and wind projects in China to counteract emissions from its manufacturing plants in the country.

“At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives. “We’re thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant and positive impact on our planet.”

The iPhone maker currently uses renewable energy across all its facilities around the world. Apple announced it had gone completely green in April this year, following an effort which included the design of the new Apple Park campus, which has solar panels over its roof.

At the time, Apple boss Tim Cook said: “We’re committed to leaving the world better than we found it. After years of hard work we’re proud to have reached this significant milestone.

“We’re going to keep pushing the boundaries of what is possible with the materials in our products, the way we recycle them, our facilities and our work with suppliers to establish new creative and forward looking sources of renewable energy because we know the future depends on it.”