Wednesday, 14 November 2018

Apple launch $300 Million Fund for China Clean Energy

SHANGHAI: Apple Inc will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country.

China’s government has made cutting pollution a key priority, putting pressure on local and international firms to help reduce high levels of smog in its major cities and clean up the country’s waterways and polluted soil.

The investment from the iPhone maker, which will be made along with 10 suppliers including Pegatron Corp and Wistron Corp over a four-year period, also comes as the United States and China lock horns over trade.

Apple’s chief executive Tim Cook earlier this year called for calm heads in Washington and Beijing as the world’s two largest economies have veered towards a trade war and exchanged tit-for-tat tariffs on billions of dollars of goods.

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