Apple Inc, expanding its environmental efforts, has announced a US$300 million fund to promote clean energy in China.
The iPhone maker said it is creating the fund to boost the use of renewable energy in its supply chain, which is primarily spread across China.
The company and 10 of its key suppliers and manufacturing partners, including Corning Inc, Pegatron Corp (和碩), Wistron Corp (緯創) and Luxshare Precision Industry Co (立訊), are to contribute to the fund over the next four years, the Cupertino, California-based company said in a statement on Thursday.
The fund is to be managed by DWS Group GmbH & Co, the asset-management arm of Deutsche Bank AG.
DWS is also to invest in the fund.
The money is to go toward developing projects totaling a gigawatt of renewable energy in China, Apple said.
China’s four-decade transition into an industrial behemoth has brought the side effects of severe air, soil and water pollution, and the government is pushing various initiatives to clean things up, including incentives for renewable energy and the electric-car industry.
Most of Apple’s products worldwide are assembled in vast production networks in China that employ hundreds of thousands of workers and the company has taken various steps to reduce the resulting carbon emissions.
In 2015, Apple committed to using clean energy in its supply chain and has said it hopes to create 4 gigawatts of renewable energy globally by 2020, an increase from a goal of 3 gigawatts announced earlier this year.
Currently, Apple uses renewable energy across 100 percent of its facilities worldwide.
Earlier this year, the company also helped aluminum suppliers Alcoa Corp and Rio Tinto Aluminum begin the development of a new technology that eliminates greenhouse-gas emissions during production, which is expected to be ready by 2024.
Additional reporting by AFP
Napoleon Osorio is proud of being the first taxi driver to have accepted payment in bitcoin in the first country in the world to make the cryptocurrency legal tender: El Salvador. He credits Salvadoran President Nayib Bukele’s decision to bank on bitcoin three years ago with changing his life. “Before I was unemployed... And now I have my own business,” said the 39-year-old businessman, who uses an app to charge for rides in bitcoin and now runs his own car rental company. Three years ago the leader of the Central American nation took a huge gamble when he put bitcoin
TECH RACE: The Chinese firm showed off its new Mate XT hours after the latest iPhone launch, but its price tag and limited supply could be drawbacks China’s Huawei Technologies Co (華為) yesterday unveiled the world’s first tri-foldable phone, as it seeks to expand its lead in the world’s biggest smartphone market and steal the spotlight from Apple Inc hours after it debuted a new iPhone. The Chinese tech giant showed off its new Mate XT, which users can fold three ways like an accordion screen door, during a launch ceremony in Shenzhen. The Mate XT comes in red and black and has a 10.2-inch display screen. At 3.6mm thick, it is the world’s slimmest foldable smartphone, Huawei said. The company’s Web site showed that it has garnered more than
PARTNERSHIPS: TSMC said it has been working with multiple memorychip makers for more than two years to provide a full spectrum of solutions to address AI demand Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday said it has been collaborating with multiple memorychip makers in high-bandwidth memory (HBM) used in artificial intelligence (AI) applications for more than two years, refuting South Korean media report's about an unprecedented partnership with Samsung Electronics Co. As Samsung is competing with TSMC for a bigger foundry business, any cooperation between the two technology heavyweights would catch the eyes of investors and experts in the semiconductor industry. “We have been working with memory partners, including Micron, Samsung Memory and SK Hynix, on HBM solutions for more than two years, aiming to advance 3D integrated circuit
Vanguard International Semiconductor Corp (世界先進) and Episil Technologies Inc (漢磊) yesterday announced plans to jointly build an 8-inch fab to produce silicon carbide (SiC) chips through an equity acquisition deal. SiC chips offer higher efficiency and lower energy loss than pure silicon chips, and they are able to operate at higher temperatures. They have become crucial to the development of electric vehicles, artificial intelligence data centers, green energy storage and industrial devices. Vanguard, a contract chipmaker focused on making power management chips and driver ICs for displays, is to acquire a 13 percent stake in Episil for NT$2.48 billion (US$77.1 million).
RSS