[ad_1]
Today, Apple welcomed key manufacturing partners Taiwan Semiconductor Manufacturing Company (TSMC) and Murata Manufacturing Co., Ltd. as new investors in the Restore Fund. The Restore Fund aims to scale up global investment in high-quality, natural carbon removal while protecting critical ecosystems. Global semiconductor foundry TSMC will invest up to $50 million in a fund managed by Climate Asset Management, a joint venture between HSBC Asset Management and Pollination. Japan-based iPhone supplier Murata Manufacturing plans to invest up to $30 million in the fund. These new investments build on Apple’s previous commitments of up to $200 million for the second phase of the Restore Fund, bringing total committed capital to $280 million.
“When companies invest in nature, they also invest in healthier communities, a more resilient global economy, and a critical tool in the fight against climate change.” Apple Environment, Policy & Society said Lisa Jackson, Vice President of Initiatives. “The Restoration Fund is already delivering real benefits to communities and ecosystems in South America while removing carbon from the atmosphere. We are pleased that they will join us by making this investment.”
Quality investment in nature
To select its portfolio of projects in the first phase, Restore Fund carefully evaluates prospective managers and investees, applying robust environmental, social, and governance criteria, as well as rigorous standards for quality, scalability, and impact. We have confirmed that the requirements are met. Most potential investments are screened through this intensive due diligence process. This is further explained in Apple’s recent white paper on its carbon removal strategy.
All projects selected for the Restoration Fund undergo regular assessments to monitor forest change and growth over time, address fire and other potential risks, and verify forest carbon stocks. . As part of this analysis, Apple and partners including Space Intelligence and Upstream Tech will use innovative tools such as iPhone LiDAR, satellite data, bioacoustic monitoring, and machine learning to improve land health and project progress was evaluated.
All projects in the first phase of the Restoration Fund have the goal of creating new responsibly managed working forests to meet growing global demand for timber and reduce pressure on natural forests. I’m sharing it. Projects are managed by:
- Alvaro Advisorsis building a portfolio of forestry projects across Latin America, including Apple’s first Restoration Fund project in Paraguay, developing sustainably managed eucalyptus farms while creating livelihood opportunities for local communities. strengthen and protect the natural ecosystem of the project area.
- BTG Pactual Timberland Investment Groupworking on Half of the project area will restore and protect natural ecosystems, while the other half will be planted with commercial plants such as eucalyptus.
- symbiosisis developing native seedlings to grow native tropical hardwood working forests while protecting the natural forests of Brazil’s Atlantic Forest.
These managers ensure that all projects meet the Restoration Fund’s rigorous standards.
TSMC and Murata Manufacturing are among more than 300 suppliers in Apple’s Supplier Clean Energy Program, committed to achieving 100% renewable power in all of Apple’s production by 2030. There is. In 2022, Apple called on its suppliers to go further and decarbonize all Apple products. Related work will be completed by the end of this decade. This includes addressing unavoidable residual emissions with high-quality carbon removal.
The fund, in which TSMC and Murata Manufacturing are investing alongside Apple, will pool regenerative agriculture projects and ecosystem conservation and restoration projects to generate both carbon and economic returns. Project selection is currently underway.
The Restore Fund is a key element of Apple 2030, the company’s ambitious goal to achieve carbon neutrality across its value chain by the end of this decade. Apple is focused on reducing its carbon footprint by 75% from 2015 levels through direct emissions reductions and plans to address residual emissions through high-quality carbon removal. The company will only retire credits from carbon projects where verified removals have already occurred and will only use credits to address residual emissions that are difficult to avoid or mitigate with solutions available today.
[ad_2]
Source link
