Apple Inc. CEO Tim Cook announced on Monday in a Weibo post that the company will be investing 720 million yuan (around $100 million) into a clean energy fund in China.
"Two-thirds of our supply chain here is already running on renewable energy and this will help further our goal of running on 100% renewable energy by 2030," Cook wrote. In a separate press release, the company detailed that the fund aims to "add approximately 550,000 megawatt-hours of wind and solar capacity to China's grid each year," with the number expected to grow.
The fund is anticipated to build on the success of the first China Clean Energy Fund launched back in 2018. "Our suppliers in China are driving world-class advances in smart and green manufacturing. With the launch of the second China Clean Energy Fund, we're proud to deepen our collaboration with suppliers across China to drive innovation," Apple COO Jeff Williams commented.
