Apple Investing Another $200 Million in High Tech Carbon Removal Efforts

[MacRumors]

Apple today announced that it is expanding its Restore Fund, which was first established in 2021. The Restore Fund is designed to pay for high-quality nature-based carbon removal projects to protect and restore "critical ecosystems." Apple also wants to help scale viable carbon removal solutions for businesses that are unable to avoid or reduce their carbon emissions through existing technology.

Apple is investing up to an additional $200 million in the Restore Fund, doubling its initial $200 million commitment. The fund will be managed by Climate Asset Management, a joint venture of HSBC Asset Management and Pollination.

With the new investment, Apple is aiming to remove one million metric tons of carbon dioxide per year while also generating a financial return for investors. Apple suppliers that become part of the fund will be able to take advantage of new high-impact carbon removal projects.

"The Restore Fund is an innovative investment approach that generates real, measurable benefits for the planet, while aiming to generate a financial return," said Lisa Jackson, Apple's vice president of Environment, Policy, and Social Initiatives. "The path to a carbon neutral economy requires deep decarbonization paired with responsible carbon removal, and innovation like this can help accelerate the pace of progress."

Climate Asset Management and Apple want to focus on nature-forward agricultural projects that generate income from sustainably managed farming practices as well as projects that conserve and restore critical ecosystems that remove and store carbon from the atmosphere. Apple says that Restore Fund investments will be subject to "rigorous social and environmental standards."

Apple has achieved carbon neutrality for its corporate operations, and it has encouraged its suppliers to become carbon neutral by 2030. Apple ultimately wants all Apple-related operations to be carbon neutral by that date, and more than 250 of its manufacturing partners have committed to that goal.

Apple's earlier investments in the Restore Fund were done in partnership with Conservation International and Goldman Sachs. With that contribution, Apple is working to restore 150,000 acres of sustainably certified working forests and protect another 100,000 acres of native forests, grasslands, and wetlands. These projects are forecast to remove one million metric tons of carbon dioxide from the atmosphere per year by 2025.

Article Link: Apple Investing Another $200 Million in High Tech Carbon Removal Efforts

 

[oofio2461]

Hopefully they don't remove the Apple stickers on the next iPhones and sell them separately for 10$ each.

 

[mrr]

excellent. We need this.

 

[Kylo83]

All this to just say they done something, if climate change is someone’s worry in life then your living a good life, the world is fine, every time they say something is happening guess what nothing ever happens, apple stop with this progressive nonsense we all know you just do this for good PR

 

[DominikHoffmann]

All this to just say they done something, if climate change is someone’s worry in life then your living a good life, the world is fine, every time they say something is happening guess what nothing ever happens, apple stop with this progressive nonsense we all know you just do this for good PR

If even just a quarter of Apple’s customer base (at least in the U.S. and Europe) is deathly afraid of getting cooked to death because of global warming, then this is a good move. The vast majority of high school and colleges students today harbor those fears. Upwards of 80% of them are Apple customers. It makes sense, whether the execs believe it themselves, or not.

 

[phenste]

alright, cue the hate for removing the charger from the box…

(always great to see them doing something concrete […no pun intended] like this. say what you will. )

edit:

Hopefully they don't remove the Apple stickers on the next iPhones and sell them separately for 10$ each.

oops I was late

 

[mcfrazieriv]

All good. Fire some employees, plant some trees.

 

[zach-coleman]

Really pretty picture. I made it my wallpaper.

Had to AI upscale it though, even the source quality was barely 1080p.

 

[MacFan23]

every time they say something is happening guess what nothing ever happens

Is that how climate change works?

 

[filmantopia]

All this to just say they done something, if climate change is someone’s worry in life then your living a good life, the world is fine, every time they say something is happening guess what nothing ever happens, apple stop with this progressive nonsense we all know you just do this for good PR

Completely untrue that nothing happens. Today we’re seeing the dramatic impact of climate change globally. Climate change is estimated responsible for 5 million deaths a year, and that number is rising. We have the choice to jump on a once in a lifetime opportunity for job growth, with green energy, or continue to allow climate change-fueled disasters to cost the country ~$15T by 2070.

 

[RedTheReader]

Nice; I like trees.

Spoiler

I can’t imagine any negative way to take this comment, but I’m sure some of you… talented individuals will find a way.

 

[fwmireault]

All this to just say they done something, if climate change is someone’s worry in life then your living a good life, the world is fine, every time they say something is happening guess what nothing ever happens, apple stop with this progressive nonsense we all know you just do this for good PR

What are you expecting? That the effects of climate changes will happen overnight? And it’s untrue that nothing happens, we already see the effects of global warming.

I don‘t know what is MR moderation policy towards conspiration theories, but something needs to be done

 

[DominikHoffmann]

Completely untrue that nothing happens. Today we’re seeing the dramatic impact of climate change globally. Climate change is estimated responsible for 5 million deaths a year, and that number is rising. We have the choice to jump on a once in a lifetime opportunity for job growth, with green energy, or continue to allow climate change-fueled disasters to cost the country ~$15T by 2070.

Are you a staffer for Alexandria Ocasio-Cortez?

 

[BlairMALL]

I totally get that some people are cynical and doubt the validity of these efforts and similar ones, but I also think that this is just a good thing to do. Even if it is used for PR (isn't that part of what PR is supposed to highlight), I like that they are making efforts in this area. Note: I also understand that my "liking" it is irrelevant to the overall argument and effort. So, another way of thinking about it is that this effort (even if wrong, misguided, or self promotional) is better than ignoring cleaner ways of doing business.

 

[ScottishDuck]

What apple is “investing” in, is the ability to sell carbon credits. This does not decarbonise the industry, it’s an enabler for slower carbon reductions.

 

[fdw777]

I love nature and trees. Why not invest in getting the homeless off the streets of SF and other cities.
We were told that the earth's ice cap would be melted by 2013 or 2014 and all the costal cities would be under water, did that happen. Nope! Someone call Greta she'll set things straight. If you believe in CC I have land for sale at the North Pole for cheap. BTW, I believe in CC its been happening every year for the past 6,000 years.

 

[yaxomoxay]

Climate change is estimated responsible for 5 million deaths a year, and that number is rising.

I don’t have a dog in the political fight about climate change, but despite what news sources said about that famous study, that’s not what they found.

They found that “More than five million extra deaths a year can be attributed to abnormal hot and cold temperature”. The study is about people having to face “non-optimal temperatures” (that is, they die of cold or heat) and goes further to explain inevitability, in that “Because of the inevitability of climate change, it is urgently important to provide a global view of the relevant mortality burden and to push and develop intergovernmental strategies against the health impacts of temperature events.” The study doesn’t say that people die because of climate change, but because of exposure. If that exposure is due to man-made climate change, that’s not part of this or any other conclusive study so far.

 

[sw1tcher]

What are they doing with the money we give em every month though haha

@Love-hate 🍏 relationship. Here's your answer 🤣

 

[siddavis]

Do what you want, just don't limit advancements or growth as a result. Much of what we are seeing are really just degrowth movements, power plays, or wealth transfers.

 

[monster620ie]

sure, and force all your workers to come in the office for most by having to drive or take transportation services and thereby adding to the ..... ugh you know the rest. that accountant CEO is something.

 

[Kylo83]

What are you expecting? That the effects of climate changes will happen overnight? And it’s untrue that nothing happens, we already see the effects of global warming.

I don‘t know what is MR moderation policy towards conspiration theories, but something needs to be done

We have found the cancel culture person, the only conspiracy theories being said is that climate change is real

 

[Supermacguy]

Good on them to do something like this! They have sooooo much money hoarded, they can afford to take risks with it, or even simply give it away on positive climate action. Hopefully they can scale it up 10x to 2Billion even!

 

[citysnaps]

We were told that the earth's ice cap would be melted by 2013 or 2014 and all the costal cities would be under water, did that happen. Nope!

Who told you that and when? Be specific.

 

[floral]

I'm not sure how this move could be twisted to be "we SO love the environment, blah blah green trees anyways give us your money because you love us so much for protecting those vulnerable, poor plants!"... It's a flat donation to a generous effort, so good job, Apple! :D

 

[antnythr]

Apple has achieved carbon neutrality for its corporate operations

They bought "carbon credits"

and it has encouraged its suppliers to become carbon neutral by 2030

You mean the part of the company that actually generates all the carbon emissions producing your stuff?

Apple is investing up to an additional $200 million in the Restore Fund

So they're backing a VC investment fund in order to get a financial return.

All companies do this stuff, but what a load of PR BS.