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Apple (AAPL) to Go Fully Solar for its Singapore Operations

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Apple Inc . AAPL continues to make its operations more environment-friendly. The company announced that it will go fully solar for its entire Singapore operations from Jan 2016.

Apple has partnered with Sunseap Group, a local solar energy developer to provide power generated from solar panels located on top of over 800 buildings in Singapore. The company's future projects including the first store in Singapore will also be powered by solar energy.

This makes Apple the first company in Singapore to run its operations entirely on renewable energy. Globally, the company is using renewable energy for 87% of its operations while its entire domestic operations are fueled by renewable energy.

Apple has been aggressively investing to source renewable energy for its operations. The company has set an ambitious target to fuel 100% of its global energy needs, including supply chain, solely through renewable resources like solar, geothermal & wind power, biogas and hydro power. As per sources, Apple's supply chain needs over an estimated 60 times more energy than its own facilities.

CEO Tim Cook had earlier commented "Climate change is one of the great challenges of our time, and the time for action is now. The transition to a new green economy requires innovation, ambition and purpose. We believe passionately in leaving the world better than we found it and hope that many other suppliers, partners and other companies join us in this important effort."

China remains high on priority for Apple's go green initiative. Last month, the company had launched two new programs to reduce the carbon footprint of its Chinese manufacturing partners. Under these programs, as much as 20 million metric tons of greenhouse gas pollution will likely be reduced in the country by 2020.

It has also built a 40 megawatt capacity solar power plant in Sichuan province. It also plans to build 200 megawatt capacity solar power plants in northern, eastern and southern parts of China. To put it in perspective, Apple stated that energy generated by these plants is enough to light up 265,000 Chinese homes for a year and will offset Apple's supply chain energy needs in the country.

Apple has also pledged to employ "best practices in procuring clean energy and building high-quality renewable energy projects, and provide hands-on assistance to some suppliers in areas like energy efficiency audits, regulatory guidance and building strong partnerships to bring new clean energy projects to China."

As per a Bloomberg report, Apple along with other tech behemoths like Microsoft Corporation MSFT and Alphabet Inc. GOOGL have been named among the companies that are "doing the most to fight climate change" by UK-based non-profit organisation CDP.

At present, Apple carries a Zacks Rank #3 (Hold). A better-ranked stock worth considering in the tech space is Amazon.com, Inc. AMZN , which carries a Zacks Rank #2 (Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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