Apple expands Restore Fund with new investments from TSMC and Murata – 9to5Mac
Apple today announced that it is expanding its Restore Fund, a project that it first launched in 2021 with a $200 million investment. Through the Restore Fund, Apple backs new financially-viable initiatives to restore forest woodland areas, which removes carbon from the atmosphere.
In an update today, Apple said that it is welcoming its partners Taiwan Semiconductor Manufacturing Company (TSMC) and Murata Manufacturing as new investors in the Restore Fund.
Apple says that TSMC and Murata will each invest in the Restore Fund, increasing the total commitment from $200 million o $280 million:
Global semiconductor foundry TSMC will invest up to $50 million in a fund managed by Climate Asset Management, a joint venture of HSBC Asset Management and Pollination. Murata — an iPhone supplier based in Japan — will invest up to $30 million in the same fund. These new investments build on Apple’s previous commitment of up to $200 million for the Restore Fund’s second phase, bringing the total to $280 million in committed capital.
The fund TSMC and Murata are investing in alongside Apple will pool regenerative agriculture projects with ecosystem conservation and restoration projects in order to generate both carbon and financial benefits. Project selection is currently underway.
Lisa Jackson, Apple’s vice president of Environment, Policy, and Social Initiatives, said:
“When businesses invest in nature, they’re also investing in healthier communities, a more resilient global economy, and a critical tool in the fight against climate change. The Restore Fund is already delivering real benefits for communities and ecosystems in South America while removing carbon from the atmosphere. And we’re thrilled to see suppliers join us by investing in nature on top of their urgent work to decarbonize their businesses.”
More details can be found on Apple’s website. Also today, Apple published an in-depth look at some of its Restore Fund projects on its website.
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Chance is an editor for the entire 9to5 network and covers the latest Apple news for 9to5Mac.
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