Apple Suppliers TSMC and Murata Join Its Green Investment Fund
(Bloomberg) -- Apple Inc. suppliers Taiwan Semiconductor Manufacturing Co. and Murata Manufacturing Co. are joining the iPhone maker’s green investment fund, bringing the total amount of committed capital to $280 million.
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TSMC will invest as much as $50 million in the fund, with Murata putting in up to $30 million, according to a statement Wednesday. Apple had already committed as much as $200 million to the fund, which is managed by Climate Asset Management, a joint venture of HSBC Asset Management and the environmentally focused group Pollination.
The effort, called the Restore Fund, is backing “high-quality, nature-based carbon removal while protecting critical ecosystems,” the tech giant said. As part of the fund’s initial phase, begun in 2021, Apple is working with Goldman Sachs Group Inc. and Conservation International to support sustainable forests in South America.
TSMC is a key chip manufacturer for Apple, while Murata supplies it with iPhone parts.
“We’re thrilled to see suppliers join us by investing in nature on top of their urgent work to decarbonize their businesses,” Lisa Jackson, Apple’s vice president of environment, policy and social initiatives, said in the statement.
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