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TSMC joins investors in Apple's conservation fund

Apple has announced TSMC and Murata among the cohort of new supporters of its Restore Fund, which is designed to scale global investment in carbon removal projects.

The iPhone firm launched the Restore Fund in 2021 with the support of Goldman Sachs, Conservation International, Symbiosis, BTG Pactual Timberland Investment Group, Arbaro Advisors and others. The aim was to raise USD 200 million to support the creation of sustainably certified working forests on degraded pasture and agricultural lands in South America.

TSMC and Murata Manufacturing have now joined the project. Global semiconductor foundry TSMC will invest up to USD 50 million in a fund managed by Climate Asset Management, whle iPhone assembler Murata will invest up to USD 30 million in the same fund.

The projects in the Restore Fund’s first phase all share a goal of creating new, responsibly managed working forests to help meet increasing global demand for timber and reduce pressure on natural forests.

TSMC and Murata are also among the more than 300 suppliers in Apple’s Supplier Clean Energy Program, having committed to achieving 100% renewable electricity for all Apple production by 2030. Apple wants to bring down its carbon footprint by 75 percent from 2015 levels.


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June 13 2024 1:49 pm V22.4.55-2