Apple Investing Hundred Millions For Climate Control

climate change

In the future, the computer and mobile company Apple not only wants to ensure that its activities cause less damage to the climate but also want to make a positive contribution. Among other things, reforestation projects are intended to bind CO2.

To finance such projects, the company has now set up the “Restore Fund”, into which, according to Apple’s head of the environmental department Lisa Jackson, $ 200 million will be paid. Apple will work with Conservation International to distribute the funds. This is a US organization that campaigns for the preservation and strengthening of biodiversity worldwide. The management of the fund itself was handed over to the investment bank Goldman Sachs.

Apple has set itself the goal of using the funding to extract at least one million tons of carbon dioxide per year from the atmosphere and bind it in the long term in biomass, which corresponds to the emissions of almost 200,000 cars. At the same time, the fund is showing a financially viable model that can help increase investment in forest restoration, it said.

Economically viable

In order for this to be possible, the fund should not simply be understood as a one-way street for donations. Because if only money has to be injected, all of this would not be economically viable in the long term, but only “hobby” as Jackson explained. Therefore, returns should be achieved over time. This is easier to achieve when investing in green electricity projects, but you also have to create carbon dioxide sinks in order to be able to become climate neutral.

After all, there are always some areas of work in which it is not possible to completely reduce emissions. These must then be countered with negative values ​​by binding greenhouse gases that have already been emitted. Apple had previously set the goal of being completely climate-neutral by 2030.
April 16, 2021