It looks like Apple, a well-known technology company known for its computers and mobile phones, is venturing into something that’s of a major importance to the world: renewable energy.
China Clean Energy Fund
On July 12, 2018, Apple announced the launch of a one-of-a-kind investment fund named the China Clean Energy Fund that hopes to connect its investors with renewable energy sources.
Together with 10 initial suppliers, Apple is investing $300 million into this fund for the next four years. The fund aims to invest in the development of clean energy projects, amounting to 1 gigawatt of renewable energy — an amount that can reportedly power roughly around a million homes.
What good does this energy fund bring, not only to China but to the rest of the world?
This Clean Energy Fund in China has brought certain positive effects, such as:
- Prior to the fund, there were participants who couldn’t choose renewable energy simply because their funds don’t allow it. With the implementation of the fund, the participants will now have bigger purchasing power to be allotted to clean energy.
- The fund will give companies a wider variety of clean energy solutions to choose from. Companies will no longer be limited to those that are easily accessible, maybe because of a limited budget, or probably due to the lack of research and development.
- It influences other companies to have their own renewable energy sources and methods. Some suppliers have even expressed their commitment to using 100% clean energy on Apple-specific operations.
- Apple promotes more awareness of renewable energy methods; energy facilities such as wind farms, solar arrays, and biogas fuel cells have been constructed to meet their goal of 100% renewable energy.
- Apple hopes that their model will be replicated by businesses of all sizes worldwide for a greater positive impact on the planet. The more companies that emulate Apple’s wise move, the better for the world.
- Apple is aware of the struggles it will face regarding renewable energy. If companies indeed choose to change their energy sources into renewable ones, doing so will involve a complex process that requires their time, money, and energy. Still, all the efforts will prove to be worth it in the end.
Working On Renewable Energy
This isn’t the first time that Apple has expressed its intentions of using renewable energy. In fact, in April 2018, Apple has stated how it has already invested enough renewable energy to cover the entire company’s usage.
Furthermore, Apple tries to find other ways to reduce or lessen greenhouse gas emissions. The company works with aluminium suppliers using more recent technology to get rid of greenhouse gas emissions from the usual smelting projects.
Customers have often reminded companies to step up and get involved in activities promoting renewable energy, especially with the visible air pollution and noticeable effects of climate change. Through this move from Apple & Clean Energy Fund, other companies will perhaps be driven to be more responsible and to finally embrace renewable energy, leading to a healthier, more livable planet Earth.