Source: Good Morning America/YouTube
The Restore Fund, as it’s called, has a goal to remove 1 million metric tons of carbon dioxide annually from the atmosphere, according to CNN. The fund is also designed to generate financial returns, a hopeful model for other corporations looking to profit from environmental investments.
“The idea of having a return is important for the planet,” Apple’s vice president for Environment, Policy and Social Initiatives Lisa Jackson told CNN. “Because if you really want businesses to engage, if you want business to really turn around and do this at scale … it has to be because there’s a return on that investment. Otherwise, it’s just philanthropy. And so much of what we’re doing at Apple is showing that the business of doing right by the planet is good business.”
The fund will generate returns from developing and protecting “working forests” that remove carbon and produce wood for materials. The fund is co-managed by Goldman Sachs and Conservation International will ensure the funds are meeting “strict environmental and societal standards.”
“Nature provides some of the best tools to remove carbon from the atmosphere. Forests, wetlands, and grasslands draw carbon from the atmosphere and store it away permanently in their soils, roots, and branches,” said Jackson in a statement.
- Amazon Employees Will Protest The Company at The Global Climate Strike!
- Startups Can Now Apply to Google’s New Climate Change Accelerator!
- Elon Musk to Give $100 Million Prize to Develop Technology to Capture Carbon Dioxide Emissions
- Bill Gates Speaks Out About Bitcoin’s Environmental Impact
For more Animal, Earth, Life, Vegan Food, Health, and Recipe content published daily, subscribe to the One Green Planet Newsletter! Also, don’t forget to download the Food Monster App on iTunes — with over 15,000 delicious recipes it is the largest meatless, vegan, and allergy-friendly recipe resource to help reduce your environmental footprint, save animals and get healthy! Lastly, being publicly funded gives us a greater chance to continue providing you with high-quality content. Please consider supporting us by donating!