Apple suppliers to join its green investment fund
![Apple suppliers to join its green investment fund](https://sustainabilityeconomicsnews.com/wp-content/uploads/2024/03/Depositphotos_69961041_S.jpg)
Taiwan Semiconductor Manufacturing Co. (TSMC) and Murata Manufacturing Co., suppliers to Apple Inc., are joining the iPhone maker’s green investment fund, bringing the total committed capital to $280 million.
According to a statement released on Wednesday, TSMC plans to invest up to $50 million in the fund, while Murata will contribute up to $30 million.
Apple had previously pledged up to $200 million to the fund, managed by Climate Asset Management, a collaboration between HSBC Asset Management and environmental group Pollination.
Also read: Apple pulls the plug on its EV building project
Apple stated that the initiative, known as the Restore Fund, aims to support “high-quality, nature-based carbon removal while protecting critical ecosystems.”
In the fund’s initial phase, which began in 2021, Apple is collaborating with Goldman Sachs Group Inc. and Conservation International to promote sustainable forests in South America.
“We’re thrilled to see suppliers join us by investing in nature on top of their urgent work to decarbonize their businesses,” Lisa Jackson, Apple’s vice president of environment, policy and social initiatives, said in the statement.
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