Restore Fund: Here’s everything you need to know about Apple’s $200 million carbon removal initiative
Apple, along with its partners, launched a $200 million fund to make investments in timber-producing commercial forestry projects, with an aim to remove nearly one million metric tons of carbon dioxide annually from the atmosphere.
Through the carbon removal initiative known as the “Restore Fund”, it aims to speed up natural solutions for climate change while generating a financial return for investors.
“Nature provides some of the best tools to remove carbon from the atmosphere.Through creating a fund that generates both a financial return as well as real, and measurable carbon impacts, we aim to drive broader change in the future — encouraging investment in carbon removal around the globe,” Apple vice president of environment, policy and social initiatives Lisa Jackson said.
Notably, the California-based iPhone maker said last year it would become carbon neutral by the year 2030 for all its operations.