Clean Power In The Far East
Apple recently announced its participation in an investment fund to finance renewable energy projects for its supply chain partners in China.
As part of Apple’s commitment to combat pollution caused by carbon emission. The giant technology firm will invest nearly $300 million over the next four years in collaboration with strategic partners. Apple could certainly foot the entire $300 million dollar bill if it wanted, with a reported cash pile of over 200 billion USD.
The investment fund will be named, The China Clean Energy Fund. The fund will finance development of clean energy projects totaling more than 1 gigawatt of renewable energy.
”At Apple, we are proud to join with companies that are stepping up to address the climate challenge,” said Lisa Jackson, Apple’s vice-president of Environment, Policy and Social Initiatives. “We’re thrilled so many of our suppliers are participating in the fund and hope this model can be replicated globally to help businesses of all sizes make a significant positive impact on our planet.”
By organizing this investment fund participants will have significant negotiation leverage and buying power. The fund will provide some of Apple’s smaller supply chain partners greater purchase power to help them negotiate better deals on these renewable energy projects. We all know money talks. With Apple’s deep pockets, small supply chain partners could attract more clean energy options and solutions.
Earlier this year, Apple announced that all its global facilities are powered by 100 percent clean energy. The next logical step for Apple to achieve a more sustainable business would be ensuring its supply chain partners followed suit.
So far 23 manufacturing partners, across 10 different countries, have committed to powering all of their Apple production with 100 percent clean energy. Apple and its suppliers aim to generate more than 4 gigawatts of new clean energy worldwide by 2020. This energy production would represent one-third of Apple’s current manufacturing electricity footprint.
For more information about The China Clean Energy Fund check out Apple’s official press release here.