Apple Inc (NASDAQ:AAPL) Launches New Clean Energy Programs in China To Promote Low-Carbon Manufacturing and Green Growth
The world’s most valuable company is working with its Chinese suppliers to eventually produce 2.2 gigawatts of solar power and other renewable energy.
Apple Inc is cleaning up its manufacturing operations in China to reduce the air pollution caused by the factories that have assembled hundreds of millions of iPhones and iPads during the past eight years.
During Thursday’s Morning trade, Shares of Apple Inc (NASDAQ:AAPL), gained 0.75% to $114.57. The firm opened its current trade at $114.33, and as of now, it is trading at $114.50. The total volume traded for the day is 3.83M shares, as compared to its average daily volume of 50.50M shares. The stock is floating in a range of $114.14 - $114.98. The stocks hold the market capitalization of $ 653.36B.
Apple has made protecting the environment a higher priority since Tim Cook replaced the late Steve Jobs as the company’s CEO four years ago, according to Globalnews.ca
According to detailed report, Apple has launched two new programs designed to bring down the environmental costs of manufacturing in China.
Apple Inc (NASDAQ:AAPL), declared two new programs aimed at reducing the carbon footprint of its manufacturing partners in China. The programs will avoid over 20 million metric tons of greenhouse gas pollution in the country between now and 2020, equivalent to taking nearly 4 million passenger vehicles off the road for one year.
Apple also declared that construction on 40 megawatts of solar projects in the Sichuan Province is now complete. These solar installations produce more than the total amount of electricity used by Apple’s offices and retail stores in China, making Apple’s operations carbon neutral in China.
“Climate change is one of the great challenges of our time, and the time for action is now,” said Tim Cook, Apple’s CEO. “The transition to a new green economy requires innovation, ambition and purpose. We believe passionately in leaving the world better than we found it and hope that many other suppliers, partners and other companies join us in this important effort.”
Second, Apple is launching a new initiative to drive its manufacturing partners to become more energy efficient and to use clean energy for their manufacturing operations. Apple will partner with suppliers in China to install more than 2 gigawatts of new clean energy in the coming years.
“We are excited to embark on this initiative with Apple. Our companies share a vision for driving sustainability and I hope that this renewable energy project will serve as a catalyst for continued efforts to promote a greener ecosystem in our industry and beyond,” said Terry Gou, founder and CEO of Foxconn Technology Group. “Sustainability is a core pillar in Foxconn’s strategy and we are committed to investing in green manufacturing.”
“Being responsible, protecting air and water, and driving clean energy are at the heart of Apple’s commitment to China,” said Lisa Jackson, Apple’s vice president of Environment, Policy and Social Initiatives. “These projects go beyond Apple’s operations in China to assist our suppliers adopt clean renewable energy.”
Apple Inc. designs, manufactures, and markets mobile communication and media devices, personal computers, watches, and portable digital music players worldwide. The company also sells related software, services, accessories, networking solutions, and third-party digital content and applications.
