Apple has announced plans to invest up to $200 million in expanding its Restore Fund. This initiative aims to finance “nature-based carbon removal projects” and is being developed with partners such as Conservation International.
In 2021, Apple launched the Recovery Mainstream, a joint venture with Conservation International and Goldman Sachs. The program focuses on investing in forestry projects as part of the company’s wider plan to achieve carbon neutrality across its entire business, including suppliers, by 2030.
According to Lisa Jackson, Apple’s vice president of environment, policy, and social initiatives, the Restoration Master approach is an “innovative investment approach that delivers real, measurable value to the planet and is focused on generating financial returns.” Jackson believes such innovations can help accelerate progress toward a carbon-neutral economy, which requires deep decarbonization and responsible carbon removal.
Apple and Climate Asset Management are investing in “nature-focused agricultural projects that generate income from sustainably managed farming practices to achieve financial returns.” They also invest in “projects that conserve and restore critical ecosystems that remove and store carbon from the atmosphere.”
Apple is deploying “innovative remote sensing technologies” to track the impact of supported projects to create forest habitats and carbon maps in project areas. This will enable the company to measure and monitor the effectiveness of these initiatives in achieving their intended environmental outcomes.