Apple recently announced a carbon removal plan called Restore Fund, which will invest in forest protection projects to remove carbon from the atmosphere and bring financial returns to investors.
This $200 million fund was jointly initiated by Apple, Conservation International, and Goldman Sachs, and aims to remove at least 1 million tons of carbon dioxide from the atmosphere each year, which is equivalent to more than 200,000 passenger cars’ amount of fuel.
Moreover, this move is part of Apple’s goal of achieving carbon neutrality across the entire value chain by 2030. The company will directly reduce 75% of carbon emissions in the supply chain and products by 2030, and the remaining 25% of carbon emissions will be solved by this fund by removing carbon from the atmosphere.
As a cooperative investor of the fund, Conservation International will ensure that the project meets environmental and social standards. The fund will be managed by Goldman Sachs. The three parties will finalize the new project later this year.
Since the launch of the first iPhone mainly packaged in fiber materials in 2016, the current packaging of Apple’s latest iPhone 12 series uses 93% fiber-based materials, including replacing standard plastic film for the first time Fiber screen cover used to protect the display.
|VIA|
