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Apple Announces $300 Mln New Clean Energy Fund In China


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(RTTNews.com) - Apple Inc. (AAPL) announced a new first-of-its-kind investment fund in China to connect suppliers with renewable energy sources. As part of Apple's commitment to address climate change and increase the use of renewable energy within its supply chain, 10 initial suppliers and Apple will jointly invest nearly $300 million over the next four years into the China Clean Energy Fund.

The fund will invest in and develop clean energy projects totaling more than 1 gigawatt of renewable energy in China, the equivalent of powering nearly 1 million homes.

Apple and its suppliers will generate more than 4 gigawatts of new clean energy worldwide by 2020 â€" representing one-third of Apple's current manufacturing electricity footprint.

Apple said it is also working with its suppliers to find new ways to reduce greenhouse gas emissions. The company recently announced it reached a breakthrough with aluminum suppliers Alcoa Corporation and Rio Tinto Aluminum on a new technology that eliminates direct greenhouse gas emissions from the traditional smelting process, a key step in aluminum production.


Read the original article on RTTNews (http://www.rttnews.com/2913401/apple-announces-300-mln-new-clean-energy-fund-in-china.aspx)


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