'There's a hunger to invest in the clean energy economy, both for principled reasons and for economic reasons,' Apple's head of environment and policy says.
Apple has convinced its top manufacturing partner, Foxconn, and its primary chip manufacturer, TSMC, to commit to powering their operations making Apple products with renewable energy, the company announced Thursday.
"A few years ago we said we wanted to start working on supplier clean energy, and our goal would be 4 gigawatts of new clean energy projects up and running by 2020. We're still on track to meet that goal," Lisa Jackson, Apple's vice president of environment, policy and social initiatives told CNBC in an interview.
"I think everyone wants to know that doesn't impact their bottom line, so we have worked with them, because they are energy intensive, especially TSMC, to find ways they felt comfortable making the commitment," she continued. In 2016 and 2017 Apple issued $2.5 billion in"green bonds," which raise funds earmarked specifically for projects that have a positive environmental or social impact. Those funds have been completely spent. The funds went to 40 different projects, including solar panel installations, wind installations, new recycled aluminum alloys, and environmentally friendly landscaping at the company's headquarters in Cupertino, California.
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