Apple has announced the inclusion of two key manufacturing partners in the Restore Fund initiative. This fund aims to escalate global investment in high-quality, nature-based carbon removal projects while ensuring the protection of critical ecosystems.
Murata, a Japan-based iPhone supplier, and Taiwan Semiconductor Manufacturing Company (TSMC) stand as notable participants within Apple's broad network of over 300 suppliers engaged in the Supplier Clean Energy Program, pledging to power all Apple manufacturing activities entirely with renewable energy by the year 2030. Following Apple's directive in 2022, these suppliers are now working to advance beyond their initial commitments by decarbonizing every aspect of their operations linked to Apple by the decade's close.
TSMC is set to invest up to $50 million in the fund, managed by Climate Asset Management, a joint venture between HSBC Asset Management and Pollination. Similarly, Murata has committed up to $30 million. These new contributions augment Apple's previous pledge of $200 million for the fund's second phase, raising the total investment to $280 million.
The Restore Fund, launched in 2021 with partners Goldman Sachs and Conservation International, seeks to develop sustainably certified working forests on degraded lands in South America. Investments in the fund's initial phase are being used to collaborate with forestry managers—Symbiosis, BTG Pactual Timberland Investment Group, and Arbaro Advisors—on creating working forests that surpass the goal of removing 1 million metric tons of CO2 from the atmosphere by 2025.
Lisa Jackson, Apple's VP of Environment, Policy, and Social Initiatives, emphasized the dual benefits of such investments, highlighting the positive impact on both the environment and global communities. Apple's diligent process in selecting high-quality nature-based projects ensures they meet strict environmental, social, and governance criteria, focusing on long-term sustainability and significant environmental impact.
The fund's approach combines regenerative agricultural practices with conservation and restoration efforts to generate both carbon and financial advantages, aligning with Apple's broader ambition to achieve carbon neutrality across its entire value chain by 2030.
