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Apple expands Restore Fund with $80M new investments from TSMC, Murata

Apple has announced that Taiwan Semiconductor Manufacturing Company (TSMC) and Murata Manufacturing are joining as new investors in the Restore Fund, a project aimed at investing in carbon removal and ecosystem protection globally.

TSMC has committed up to $50 million, while Murata plans to invest up to $30 million into a fund managed by Climate Asset Management, a collaboration between HSBC Asset Management and Pollination. This increases the total capital committed to the Restore Fund’s second phase to $280 million, including Apple’s previous pledge of up to $200 million.

The announcement also highlighted the partnerships formed in the Restore Fund’s first phase, launched in 2021. Apple, alongside Goldman Sachs and Conservation International, is working with forestry management firms Symbiosis, BTG Pactual Timberland Investment Group, and Arbaro Advisors. These partnerships focus on creating sustainably certified working forests in South America, aiming to remove over one million metric tons of carbon dioxide from the atmosphere by 2025.

The Restore Fund selects projects through a due diligence process, ensuring they meet strict environmental, social, and governance criteria. These projects undergo regular assessments to monitor forest growth and carbon stock, using advanced tools like LiDAR, satellite data, and machine learning.

The first phase of the Restore Fund aims to establish new working forests to address the growing demand for timber and alleviate pressure on natural forests. Project managers include Arbaro Advisors, focusing on sustainable eucalyptus farms in Paraguay; BTG Pactual Timberland Investment Group, balancing ecosystem restoration and commercial planting; and Symbiosis, developing working forests of native hardwoods in Brazil’s Atlantic Forest.

TSMC and Murata are part of Apple’s Supplier Clean Energy Program, committing to power all Apple production with renewable energy by 2030.

[Image courtesy: Apple]

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