IT Brief New Zealand logo
Technology news for New Zealand's largest enterprises
Story image

Apple creates sweeping carbon removal fund

Fri 16 Apr 2021
FYI, this story is more than a year old

Apple has today announced its Restore Fund — a broad forestry initiative aimed at removing carbon from the atmosphere while generating a financial return for investors.

The US$200 million fund has set its goal to remove ’at least one million metric tons of carbon dioxide annually from the atmosphere’ — equivalent to the amount of fuel used by over 200,000 passenger vehicles.

The fund is set to become a centrepiece of the tech giant’s goal to become carbon neutral across its entire value chain by 2030. 

While the company will directly eliminate 75% of its supply chain and products emissions by 2030, the fund will help address the remaining 25% of Apple’s emissions by removing carbon from the atmosphere. 

“Nature provides some of the best tools to remove carbon from the atmosphere,” says Apple vice president of environment, policy, and social initiatives Lisa Jackson. 

“Forests, wetlands, and grasslands draw carbon from the atmosphere and store it away permanently in their soils, roots, and branches. Through creating a fund that generates both a financial return as well as real and measurable carbon impacts, we aim to drive broader change in the future — encouraging investment in carbon removal around the globe. 

“Our hope is that others share our goals and contribute their resources to support and protect critical ecosystems.”

Apple says the Restore Fund will be guided by international standards set by the Intergovernmental Panel on Climate Change and the UN Climate Convention, while prioritising investments in forests that improve biodiversity by creating buffer zones and natural set-asides.

The fund has backing from Conservation International, while Goldman Sachs will manage the fund. Apple says the three parties will identify new projects later this year.

“Innovation is core to Apple’s approach to climate solutions, and Goldman Sachs is proud to partner with them and Conservation International,” says Goldman Sachs global head of sustainability and inclusive growth Dina Powell.

“We all agree that the urgency of climate transition requires private capital to work alongside new and established efforts aimed at sustainably removing carbon from the atmosphere with rigour and high standards. 

“We believe launching this fund can catalyse significant additional investment capital for climate impact.”

This is not the first time Apple has worked with Conservation International — the companies have collaborated in the past collaborated on projects aimed at restoring grasslands, wetlands, and forests.

“Investing in nature can remove carbon far more effectively — and much sooner — than any other current technology,” says Conservation International CEO M. Sanjayan.

“As the world faces the global threat climate change presents, we need innovative new approaches that can dramatically reduce emissions. 

“We are excited to build on our long-standing partnership with Apple and believe the groundbreaking approach with the Restore Fund will make a huge difference and benefit communities around the world with new jobs and revenue that support everything from education to healthcare.”

Related stories
Top stories
Story image
Employment
Tech job moves - Forcepoint, Malwarebytes, SolarWinds & VMware
We round up all job appointments from May 13-20, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Migration
Let’s clear the cloud visibility haze with app awareness
Increasingly, organisations are heading for the cloud, initiating new born-in-the-cloud architectures and migrating existing applications via ‘lift and shift’ or refactoring.
Story image
Remote Working
Successful digital transformation in the hybrid work era is about embracing shifting goalposts
As organisations embraced remote working, many discovered they lacked the infrastructure needed to support history’s first global load test of remote work capabilities.
Story image
Vectra AI
Understanding the weight on security leader’s shoulders, and how to shift it
Millions of dollars of government funding and internal budgets are being funnelled into cybersecurity to build resilience against sophisticated threats, indicating how serious this issue has become.
Story image
SaaS
Rubrik Security Cloud marks 'next frontier' in cybersecurity
"The next frontier in cybersecurity pairs the investments in infrastructure security with data security giving companies security from the point of data."
Story image
Microsoft
PwC NZ unveils new Cloud Security Operations Center
PwC New Zealand has unveiled its new Cloud Security Operations Center for the entire Microsoft technology stack.
Story image
Commerce Commission
ComCom appeals $2.25 million fine in Vodafone FibreX case
The Commerce Commission has filed an appeal in the High Court against a $2.25 million fine imposed on Vodafone NZ for its offending under the Fair Trading Act.
Story image
Apple
Apple previews new features for users with disabilities
Apple says new software features that offer users with disabilities new tools for navigation, health and communication, are set to come out later this year.
Story image
SaaS
Maintaining secure systems with expectations of flexible work
Most office workers feel they've proved they can work successfully from home, and as much as employers try, things aren't going back to the way they were anytime soon.
Story image
Lightspeed
Lightspeed launches all-in-one marketing platform in A/NZ
ECommerce provider, Lightspeed has launched a new all-in-one marketing solution, Lightspeed Marketing & Loyalty in Australia and New Zealand.
Story image
Wireless Nation
Wireless Nation, N4L provide 4G network to remote NZ schools
Wireless Nation and Network for Learning (N4L) have rolled out the Rural Connectivity Group’s (RCG) new 4G network to better connect three Chatham Islands schools.
Story image
Digital Transformation
How to modernise legacy apps without compromising security
At a time when digital transformation has become central to business, even the most important applications come with a ‘use-by’ date.
Story image
Artificial Intelligence
CFOs using digital workers and AI to prevent unnecessary loss
New technology is now allowing CFOs to use digital workers to automate their accounting processes, making it easier for them to avoid unnecessary losses.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Sisense
Data and analytics could be key to higher selling prices in APAC
Sisense's latest report has found that almost half of data professionals in APAC think customised data and analytics can create better selling prices for their products.
Story image
Digital Transformation
The Huawei APAC conference kicks off with digital transformation
More than 1500 people from across APAC have gathered for the Huawei APAC Digital Innovation Congress to explore the future of digital innovation.
Story image
Ransomware
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Fonterra
Fonterra to use automated guided vehicles by Dematic
New Zealand's dairy giant Fonterra is upgrading its manufacturing facility in Edendale with new automated guided vehicles (AGVs) from Dematic.
Story image
Qualys
Qualys updates Cloud Platform solution with rapid remediation
The new update is designed to enable organisations to fix asset misconfigurations, patch OS and third-party applications, and deploy custom software.
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Booster
Booster Innovation Fund. A fund of Kiwi ingenuity – for Kiwi investors.
Link image
Story image
Sustainability
Grasping the opportunity to rethink the metrics of a sustainable data centre
A data centre traditionally has two distinct operations teams: the Facility Operations team, and the IT Operations team. Collaboration between them is the key to defining, measuring, and delivering long-term efficiency and sustainability improvements.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Wireless
Cradlepoint expands its Cellular Intelligence capabilities
Cradlepoint has announced additional Cellular Intelligence capabilities with its NetCloud service.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Customer experience
Research unveils precarious customer loyalty for retailers
New research has found customers are reassessing established brand loyalties as their priorities and behaviours shift.
Story image
Cloud Security
Aqua Security createa unified scanner for cloud native security
“By integrating more cloud native scanning targets into Trivy, such as Kubernetes, we are simplifying cloud native security."
Story image
Ransomware
Alarming surge in Conti Ransomware Group activity - report
A new report has identified a 7.6 per cent increase in the number of vulnerabilities tied to ransomware in Q1 2022.
Story image
Sustainability
Legrand unveils Nexpand, a data center cabinet platform
Legrand has unveiled a new data center cabinet platform, Nexpand, to offer the necessary scalability and future-proof architecture for digital transformation.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Customer experience
Gartner recognises Okta for abilities in Access Management
Okta has announced it has been recognised as a Customers' Choice for the fourth time in a row in the Gartner Peer Insights "Voice of the Customer" report.
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Data Protection
Barracuda launches new capabilities for API Protection
"Every business needs this type of critical protection against API vulnerabilities and automated bot attacks," Barracuda says.
Story image
Artificial Intelligence
AI-based email security platform Abnormal Security valued at $4B
"A new breed of cybersecurity solutions that leverage AI is required to change the game and stop the rising threat of sophisticated and targeted email attacks."
Story image
ChildFund
ChildFund launches new campaign to protect children online
ChildFund says WEB Safe & Wise aims to protect children from sexual exploitation and abuse online while also empowering them to become digitally savvy. 
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Sustainability
Power at the edge: the role of data centers in sustainability
The Singaporean moratorium on new data center projects was recently lifted, with one of the conditions being an increased focus on power efficiency and sustainability.
Story image
Malware
New vulnerabilities found in Nuspire’s Q1 2022 Threat Report
“Threat actors are quickly adjusting their tactics and these exploits tend to get industry attention, but the threat posed by older and attacks still persists."
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image
Story image
Vodafone
Vodafone NZ buys remaining stake in retail joint venture
Vodafone New Zealand has purchased the remaining 50% stake in the specialist joint venture (JV) with private equity company Millennium Corp.
Story image
Attain
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Infrastructure
Nutanix study reveals financial services sector lagging with multicloud adoption
Nutanix has released new research that reveals the financial services sector is lagging behind when it comes to multicloud adoption.