Apple launched a $200 million fund to invest in commercial forestry ventures, also plans to be carbon-free by 2030
Apple announced last year that all of its activities would be carbon-free by 2030.
Apple launched a $200 million fund to invest in commercial forestry ventures that produce wood, with the intention of eliminating carbon from the atmosphere while still making a profit.
The Restore Fund, which was established in collaboration with Conservation International and Goldman Sachs, is scheduled to start funding projects later this year. In a quote, Apple vice president of climate, policy, and social initiatives Lisa Jackson said, “Nature offers some of the best opportunities to extract carbon from the atmosphere.”
“We hope to push broader change in the future by promoting investment in carbon removal around the world by building a fund that produces both a financial return and actual, observable carbon impacts.”
Forests absorb carbon from the atmosphere, preserving it and preventing it from contributing to global warming.
The fund seeks to extract one million metric tonnes of CO2 from the atmosphere per year, roughly equivalent to the volume emitted by over 200,000 passenger vehicles. Apple announced last year that all of its activities, including production, would be carbon neutral by 2030.
The iPhone maker from California said that its target was to have no environmental effect on any of its devices sold. In a joint statement, Conservation International CEO M. Sanjayan said, “Investing in nature will extract carbon much more efficiently — and far faster — than any other existing technology.”
“As the world grapples with the global challenge posed by climate change, we need creative new methods that can significantly reduce emissions.”
Google also announced a time-lapse feature for its Google Earth service, which offers a satellite view of the globe, on Thursday.
The new function is based on tens of millions of satellite images from the past 37 years, allowing users to see how the planet’s face has changed in great detail. In a blog post, Google Earth said, “Timelapse in Google Earth is about zooming out to evaluate the health and well-being of our only home, and is a tool that can inform and encourage action.”
“Visual evidence can get to the heart of a discussion in a way that words can’t, and it can explain complicated problems to everyone.”
On Thursday, Facebook revealed that it had joined Google in being entirely dependent on renewable energy.
“Today, we’re announcing that by 2020, Facebook’s operations will be driven entirely by renewable energy, resulting in net-zero emissions,” the company said in a press release. It also stated that it had decreased greenhouse gas emissions by 94%, exceeding its target of 75% reduction.