The company will use this new fund to increase the use of clean energy in its manufacturing ecosystem in China and continue to direct its suppliers toward renewable energy sources. This step aligns with Apple's goal of ensuring its supply chain is fully powered by renewable energy by 2030.
According to Apple, the new fund will help promote sustainability in the company's Chinese manufacturing ecosystem and accelerate the transition of suppliers to renewable energy sources. Apple aims to support many manufacturers in China in switching to clean energy, and this new fund is designed to further advance that goal.
The company has been running large-scale projects for a long time to reduce its supply chain carbon footprint and ensure environmental sustainability in its global operations. In 2018, Apple created a clean energy fund worth $300 million for its suppliers in China, helping many factories and facilities transition to renewable energy. The new 720 million yuan fund is considered a continuation of that strategy.
Apple has committed to making not only its operations but also its entire supply chain and product usage carbon neutral by 2030. The company's manufacturers in China are making efforts to align with Apple's global sustainability goals by investing more in solar and wind energy projects.
Tim Cook's visit to Beijing is also seen as part of Apple's efforts to maintain its position in the Chinese market. China is not only Apple's largest manufacturing hub but also one of its most important consumer markets. However, due to increasing competition and geopolitical tensions in recent years, the company is taking more cautious steps to manage its operations in China.
The rise of local manufacturers and the Chinese government's regulatory policies toward foreign tech companies have led Apple to reshape its strategies in this market. The company continues its long-term plans in the Chinese market by strengthening its relations with local governments and taking concrete steps toward sustainability goals in its supply chain.
