TAIPEI (TVBS News) — Taiwan Semiconductor Manufacturing Company (TSMC) announced on Thursday (March 14) that it is partnering with Apple to invest in the Restore Fund, a pioneering venture dedicated to investing in sustainable and high-quality nature-based carbon removal projects while also protecting critical ecosystems around the world.
TSMC will invest up to US＄50 million in the fund, which was initiated by Apple and is managed by Climate Asset Management, a collaborative effort between HSBC Asset Management and Pollination. Murata, an iPhone supplier based in Japan, will also invest up to US＄30 million in the same fund. Combined with Apple's previous commitment of up to US＄200 million for the Restore Fund's second phase, these new investments raise the total of committed capital to US＄280 million.
TSMC is among the more than 300 suppliers in Apple's Supplier Clean Energy Program, having committed to achieving 100 percent renewable electricity for all Apple production by 2030. The fund TSMC is investing in alongside Apple will pool regenerative agriculture projects with ecosystem conservation and restoration projects in order to deliver both carbon and financial benefits. Project selection is currently underway.
"At TSMC, we are deeply committed to being a responsible corporate citizen and reducing our carbon footprint," the company stated in its announcement of the investment. "We are committed to reducing our carbon emissions and have already implemented several measures to reach our goal of net zero emissions by 2050. We will continue to actively evaluate and invest in all types of opportunities to reduce carbon emissions."