Apple has set up a $200m fund to invest in reforestation projects, in a move to help remove carbon from the atmosphere, but also to make a profit for investors
Apple’s Restore Fund is an environmental measure, but it also has profit in its sights. The $200 million fund will invest in maintained forestry properties to produce timber and help remove carbon from the atmosphere. The big goal is to be able to remove one million tonnes of carbon dioxide annually.
The company has committed to reduce 75% of the pollutant emissions of its entire supply chain by 2030 and Restore Fund will help to eliminate the remaining 25%, making the company neutral in this chapter. In addition to Apple, Conservation International and Goldman Sachs are also on the list of investors in the Restore Fund.
The Verge quotes Lisa Jackson, Apple’s vice president of environment, who reveals that “by creating a fund that generates a financial return and has a real, measurable impact on carbon, we aim to lead greater change in the future and encourage investment in carbon removal around the world.”
Apple will work with a number of specialist organisations to define which projects it should invest in. The expected financial return is not known at this stage, but Apple says it intends to “unlock the potential of these natural solutions by scaling them in ways that are attractive to business”.
