Apple creates fund of $200 million to reduce carbon emission

Apple to invest $200 million in forestry projects primarily to remove carbon from the company but also to generate returns for its investors. The company on Thursday said that their goal is to remove 1 million metric tons annually by investing in forest properties that are managed to increase carbon removal and produce timber.

Last year Apple said that they wish to be carbon neutral by the year 2030. The company through their supply chain and products will directly eliminate 75% of emissions by 2030, and the Restore Fund will help add another 25%.

“Through creating a fund that generates both a financial return and environmental return a well as real, and measurable carbon impact, we aim to drive broader change in the future encouraging investments in carbon removal around the globe,” company’s vice president of environment, policy, and social initiatives, Lisa Jackson said in a statement.

Apples partner in The Restore Fund includes the non-profit Conservation International and the Goldman Sachs groups to manage the funds.

The initiative was launched last year to plant a trillion tree by the World Economic Forum. Apple also landed in some controversy after announcing the Restore Fund, that the forest will be used for offsetting greenhouse emissions.