Apple launches $300 million ‘green’ fund for China suppliers

Apple and its 10 initial suppliers would jointly provide the money for the China Clean Energy Fund, aimed at helping the companies make the transition to clean energy. (Reuters)
Updated 13 July 2018
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Apple launches $300 million ‘green’ fund for China suppliers

SHANGHAI: Apple said on Friday it has established a fund to invest nearly $300 million over the next four years to connect its Chinese suppliers to renewable energy as Beijing pushes an anti-pollution drive.
The US giant said it and 10 initial suppliers would jointly provide the money for the China Clean Energy Fund, aimed at helping the companies make the transition to clean energy.
Apple said the project would produce an initial one gigawatt of clean energy, equivalent to powering nearly a million homes.
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 resulting carbon emissions.
It said in April that its headquarters in Cupertino, California, had gone 100 percent renewable and announced initiatives to achieve the same in other Apple facilities worldwide.
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.
Among other projects, in late 2016 Apple said it bought a 30 percent stake in subsidiaries of China-based Goldwind, the world’s largest wind turbine maker, to produce renewable energy.


Apple’s Cook to China: keep opening for sake of global economy

Updated 23 March 2019
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Apple’s Cook to China: keep opening for sake of global economy

  • Cook’s comments come as Apple weathers sinking sales in China
  • Despite official pledges and repeated assurances that China would continue to open its markets

BEIJING: Apple chief executive Tim Cook nudged China on Saturday to open up and said the future would depend on global collaboration, as the United States and China remained locked in a bitter trade dispute.
“We encourage China to continue to open up, we see that as essential, not only for China to reach its full potential, but for the global economy to thrive,” Cook said at a China Development Forum in Beijing.
Despite official pledges and repeated assurances that China would continue to open its markets, some analysts worry that its reform project has slowed or even stalled under President Xi Jinping, who has sought greater control over the economy and a bigger role for state-owned firms at the expense of the private sector.
Cook’s comments come as Apple weathers sinking sales in China because of a contracting smartphone market, increasing pressure from Chinese rivals, and slowing upgrade cycles. The company reported a revenue drop of 26 percent in the greater China region during the quarter ending in December.
Before those results came out, in a January letter to investors, Cook blamed the company’s poor China performance on trade tension between the United States and China, suggesting that pressure on the economy was hurting sales in China.