Apple is still pushing hard in the direction of carbon removal, and launches an initiative that is the first of its kind. It is a “Restore Fund”, and is an investment in forestry projects to remove carbon from the atmosphere while generating a financial return for investors.
Launched in partnership with Conservation International and Goldman Sachs, Apple’s $ 200 million fund will aim to remove at least one million tons of carbon dioxide from the atmosphere each year, equivalent to the amount of fuel used by more than 200,000 cars, demonstrating at the same time a viable financial model that can help increase investment in forest restoration.
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“Nature – said Lisa Jackson, Apple’s VP for the environment, and for social policies and initiatives – provides some of the best tools to remove carbon from the atmosphere. Forests, wetlands and grasslands remove carbon from the atmosphere and store it permanently in their soils, roots and branches. By creating a fund that generates both a financial return and a real and measurable carbon impact, we aim to drive wider change in the future by encouraging investment in carbon removal around the world. Our hope is that others will share our goals and contribute their resources to support and protect critical ecosystems ».
This commitment is part of Apple’s broader goal of becoming carbon neutral across its value chain by 2030. According to some scientific research, trees absorb carbon as they grow, and researchers estimate that tropical forests contain more carbon than humanity has been emitting for the past 30 years by burning coal, oil and natural gas, despite ongoing deforestation.
To ensure that carbon stored in forests is accurately quantified and permanently locked out of the atmosphere, the Restore Fund will use robust international standards developed by recognized organizations. And it will prioritize investments in working forests that improve biodiversity through the creation of buffer zones and nature reserves.