Today, Apple revealed a new investment totaling 720 million Chinese yuan (approximately $99.2 million USD) aimed at enhancing clean energy initiatives in China. This move aligns with Apple’s ambition to transition to 100% renewable energy within its supply chain by 2030.
This funding represents the second installment of the China Clean Energy Fund, which is projected to contribute 550,000 megawatt-hours of renewable wind and solar power to China’s grid annually, according to Apple. This figure is expected to increase as more investors come on board. In the press release, Apple COO Jeff Williams commented:
“Our suppliers in China are pioneering leading-edge advancements in smart and sustainable manufacturing,” stated Jeff Williams, Apple’s chief operating officer. “With the introduction of the second China Clean Energy Fund, we are excited to enhance our partnerships with suppliers across China to foster innovation, provide opportunities, and promote progress for our planet.”
The inaugural China Clean Energy Fund, launched in 2018, successfully established over a gigawatt-hour of new wind and solar initiatives across China. This groundbreaking investment set a precedent in the industry, and the second fund aims to build on that foundation.
This latest investment will significantly aid Apple in achieving its objective of relying entirely on renewable energy for its supply chain by 2030. Currently, the company reports that approximately two-thirds of its production in China is powered by renewable resources.
Check out my favorite Apple accessories on Amazon:
Follow Michael: X/Twitter, Bluesky, Instagram
