At any point of the digital transition,…
Apple today launched the “Restore Fund,” a “initial pollution reduction programme” that would invest in forestry projects to extract carbon from the environment while also providing positive returns to investors. According to Apple, the $200 million fund, which was initiated in collaboration with Conservation International and Goldman Sachs, seeks to extract at least 1 million tons of CO2 from the atmosphere per year.
Its viable financial concept seeks to boost spending in forest conservation through the amount of fuel used by more than 200,000 passenger vehicles, and it is equal to the amount of fuel used by more than 200,000 passenger cars.
This effort is part of Apple’s goal to achieve carbon neutrality across the entire “value chain” by 2030, according to the company. By 2030, Apple expects to remove 75 percent of its supply chain and commodity pollutants directly, with the fund assisting in the removal of the remaining 25 percent of Apple’s emissions from the atmosphere.
Nature offers some of the most effective methods for removing emissions from the atmosphere. Forests, lakes, and grasslands absorb carbon from the environment and preserve it in dirt, roots, and branches for the long term. Apple and its partners hope to foster broader reforms in the future by building a fund that will produce both economic returns and a tangible and observable carbon impact: to stimulate investment in carbon reduction on a global scale. Simultaneously, it is hoped that all actors will share these goals and devote money to help sustain and secure important habitats.
Apple and Conservation International collaborated with local Kenyan conservation groups to conserve degraded savanna in the Chyulu Hills district as part of this programme. According to Apple, restoring the savannah could extract hundreds of millions of tons of carbon from the atmosphere per year if comparable activities are promoted across Africa.