Apple and others launch forestry focused “carbon removal” fund

Already working on savannah degradation and forestry projects in Kenya, tech giant Apple announced a new partnership with Goldman Sachs and Conservation International last week, launching a $200 million “carbon removal” fund that will invest in forestry projects around the world to reduce the levels of carbon in the earth’s atmosphere. Conservation International is investing in the fund alongside Apple, while Goldman Sachs will manage the fund’s investments and operations.

By successfully backing working forests that improve biodiversity through the creation of buffer zones and natural set-asides, part of the fund’s remit is to demonstrate a viable financial model for carbon removal initiatives. This would help scale up investment in forest restoration and making it an attractive investment category to more businesses.  Apple estimates that the Restore Fund’s investment activities alone will remove 1 million metric tons of carbon dioxide every year, the equivalent of the amount of fuel used by 200,000 passenger vehicles.

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