Alongside the expansion of its renewable energy portfolio in Australia, Apple has announced a new Restore Fund investment in New Zealand. Here are the details.
Apple turns East yet again to fulfill Apple 2030 goals
In a press release issued earlier today, Apple announced that it will expand the Restore Fund initiative to New Zealand, with environmental protection investments in multiple sites across the Central North Island and the South Island:
”Through one of the initiative’s funds, Apple and its partner Climate Asset Management have invested in a project to protect and restore 8,600 hectares of forestland across four sites in the Central North Island and one in the South Island. The project — which is managed in accordance to Forest Stewardship Council standards — aims to improve biodiversity, increase carbon sequestration and generate financial return through the sustainable management of working redwood forests alongside the conservation of 3,000 hectares of native forestland.”
The Restore Fund was launched in 2021, and it is “designed to help scale investment in high-quality, nature-based carbon removal projects around the world.”
In addition to the expansion to New Zealand, Apple also shared an update on a Restore Fund initiative in Queensland, Australia, “which is transforming 1,700 hectares of degraded sugarcane farmland into a macadamia orchard with over 800,000 trees”. From the press release:
“Located south of Bundaberg and stretching for 8 kilometres, the once heavily farmed zone will see native species re-introduced and regeneratively managed to improve soil quality, increase water efficiency, boost biodiversity and sequester carbon. The project is also establishing a 100-hectare restoration area in partnership with Indigenous conservation organisation W.Y.L.D., which works to reconnect youth with the landscape. The area will serve as a biodiversity corridor linking two bordering national parks.”
Finally, Apple also announced an expansion of its renewable energy initiative in Australia, with a new solar project under construction in Lancaster, Victoria.
The project will add to the company’s portfolio of renewable energy projects in the region, which are expected to generate over 1 million megawatt-hours of clean electricity annually before 2030.
Today’s announcements come on the heels of new and expanded investments in Europe and China introduced last month, signaling that while Apple has focused less on domestic environmental projects this year, it remains committed to meeting its Apple 2030 goals through international initiatives.
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