In a significant move towards sustainability, Apple has announced the expansion of its Restore Fund, doubling the company’s total commitment to advancing high-quality, nature-based carbon removal projects. This announcement marks a significant step forward in the company’s goal to become carbon neutral for its entire supply chain and life cycle of every product by 2030.
The Restore Fund was first launched in 2021 with an initial commitment of up to $200 million from Conservation International and Goldman Sachs. The fund aims to encourage global investment to protect and restore critical ecosystems and scale natural carbon removal solutions. As part of the expansion, Apple will invest an additional $200 million in the new fund, which Climate Asset Management will manage. The new portfolio of carbon removal projects aims to remove 1 million metric tons of carbon dioxide per year at its peak while generating a financial return for investors.
Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives, called the Restore Fund “an innovative investment approach that generates real, measurable benefits for the planet, while aiming to generate a financial return.” Jackson also highlighted the importance of deep decarbonization and responsible carbon removal in achieving a carbon neutral economy, stating that “innovation like this can help accelerate the pace of progress.”
Apple has already achieved carbon neutrality for its corporate operations and has called on its suppliers to become carbon neutral across all Apple-related operations by 2030, including all of their direct and electricity-related emissions. High-quality carbon removals will help achieve this goal by offsetting any direct emissions that cannot be avoided or reduced. Apple’s suppliers are expected to reduce emissions by transitioning to renewable energy, improving energy efficiency, and abating direct emissions.
Apple’s initial investments with Conservation International and Goldman Sachs, located in Brazil and Paraguay, aim to restore 150,000 acres of sustainably certified working forests and protect an additional 100,000 acres of native forests, grasslands, and wetlands. Together, these projects are forecast to remove 1 million metric tons of carbon dioxide from the atmosphere per year by 2025.
To accurately monitor and measure the impact of Restore Fund projects, Apple is deploying innovative remote sensing technologies, including Space Intelligence’s Carbon and Habitat Mapper, Upstream Tech’s Lens platform, and high-resolution satellite imagery from Maxar. These detailed maps will help ensure that projects meet Apple’s high environmental standards prior to investment and will quantify and verify the projects’ carbon removal impact over time. Apple is also exploring the use of the LiDAR Scanner on iPhone to enhance monitoring capabilities on the ground.
The expansion of the Restore Fund is part of Apple’s comprehensive roadmap to become carbon neutral for its entire supply chain and life cycle of every product by 2030. The company plans to reduce 75 percent of all emissions by 2030 and balance the remaining emissions with high-quality carbon removal. In addition to its commitment to sustainability, Apple has also announced that over 250 of its manufacturing partners have committed to powering their Apple production with 100 percent renewable energy by 2030.
Apple’s commitment to sustainability is not only important for the planet but is also a significant factor in the company’s success. Consumers are becoming increasingly aware of the impact of their purchasing decisions on the environment, and many are willing to pay a premium for sustainable products.