Apple Inc AAPL is planning to turn carbon neutral across the entire spectrum of its business, manufacturing supply chain, and product life cycle by 2030, it announced Tuesday.
What Happened
The Tim Cook-led company says it's already carbon neutral for its corporate operations worldwide.
The iPhone maker now plans to cut emissions by 75% within a decade and develop “innovative carbon removal solutions” for the remaining 25% of its comprehensive footprint.
Apple will also establish an impact accelerator, with a focus on minority-owned businesses, to bring about "positive outcomes in its supply chain and in communities that are disproportionately affected by environmental hazards."
The Cupertino-based company said, along with the private equity fund US-China Green Fund, it would invest $100 million in accelerated energy efficiency projects for its suppliers.
Why It Matters
Apple would achieve net-zero climate impact for every device sold by 2030, if the consumer electronics giant lives up to the commitment.
Microsoft Corporation MSFT previously committed to becoming "carbon negative" by 2030, that is, it would aim to cut more carbon from the environment than it emits.
Amazon.com Inc. AMZN has pledged to be carbon neutral by 2040.
Apple announced April last year that its chip supplier Taiwan Semiconductor Mfg. Co. Ltd. TSM and iPhone manufacturing partner Hon Hai Precision Industry Co. Ltd. HNHPF, better known a Foxconn, had committed to using renewable energy, CNBC reported.
Price Action
Apple shares closed about 1.4% lower at $388 on Tuesday and traded 0.18% higher in the after-hours session.
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