Apple’s clean energy fund aims to help fight China’s pollution

  Watch the exclusive exclusive interview with Apple CEO Tim Cook

Apple is loading its credentials for renewable energy in China.

The iPhone maker said on Thursday it will launch a $ 300 million fund that will identify and invest in clean energy projects in the world's second largest economy.

Apple ( AAPL ) has partnered with 10 of its global suppliers for the fund, whose investments aim to generate enough renewable energy to power the equivalent of nearly one million households in China .

The transformation of China into an economic power in recent decades has made a dent in the country's environment and the health of its people. Repression of pollution has become a priority for the authorities, even if it hinders the economic growth of the country.

The environmental group Greenpeace has warned that the manufacture of electronic products consumes a lot of energy in China and resorts to polluting coal power plants.

Related: Apple is now fully powered by clean energy

Apple's announcement of China's new fund is its latest move that will probably play well with the Chinese government. CEO Tim Cook visits the country frequently, and the company is setting up research and development centers there.

Many Apple products are manufactured in China and then shipped around the world. The country also represents around 20% of the firm's sales.

Now, the company is at risk of getting caught up in the growing trade conflict between Washington and Beijing.

Apple and other major technology firms have trumpeted their commitments to clean energy sources in recent years.

  Apple Solar Panels
Solar panels on the roof of the Apple Park in Cupertino, California.

In April, Apple announced that all of its retail stores, data centers and corporate offices now operate with 100% clean energy. More than 20 of its suppliers have also committed to boost their production for Apple from clean energy sources, according to the company.

Related: Microsoft is buying solar power from the rooftops of Singapore

Apple has invested in China's wind and solar energy industries in the past. But the new fund is separate from the company's previous renewable energy initiatives in the country.

The major component suppliers with which Apple is working in the fund include those of Taiwan Pegatron and Wistron. Deutsche Bank ( DB ) will manage the fund and will also invest in it.

CNNMoney (Hong Kong) First publication on July 13, 2018: 12:58 AM ET


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