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Apple has announced a $300 million green energy fund in China

It could power almost 1 million homes in China.

Image: REUTERS/Regis Duvignau

This article was originally published by Reuters

Reuters Staff

Adam Jourdan Chief Correspondent, Thomson Reuters

Apple Inc (AAPL.O) will launch a $300 million clean energy fund in China, the firm said in a statement on Friday, working with its suppliers to invest in renewable energy projects that could power close to 1 million homes in the country.

The Apple logo is seen on a computer screen in this illustration photo taken in Bordeaux, France, February 1, 2017. REUTERS/Regis Duvignau

Image: REUTERS/Regis Duvignau

China’s government has made cutting pollution a key priority, putting pressure on local and international firms to help reduce high levels of smog in its major cities and clean up the country’s waterways and polluted soil.

The investment from the iPhone maker, which will be made along with 10 suppliers including Pegatron Corp (4938.TW) and Wistron Corp (3231.TW) over a four-year period, also comes as the United States and China lock horns over trade.

Apple’s chief executive Tim Cook earlier this year called for calm heads in Washington and Beijing as the world’s two largest economies have veered towards a trade war and exchanged tit-for-tat tariffs on billions of dollars of goods.

The U.S. firm makes most of its products in China, which are shipped around the world, including to the United States. China is also one of Apple’s most important end markets, although it has faced a rising challenge from local smartphone rivals.

Apple has been making a broader push in renewable power. Earlier this year it said that its global facilities were now fully powered by clean energy.

Written by Reuters Staff,

Adam Jourdan, Chief Correspondent, Thomson Reuters

This article was originally published by Reuters.

The views expressed in this article are those of the author alone and not the World Economic Forum.

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