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Launched with Conservation International and Goldman Sachs, the fund aims to remove at least one million metric tons of carbon dioxide annually from the atmosphere.
That is equivalent to the amount of fuel used by over 200,000 passenger vehicles.
READ ALSO: Apple Enforces Agreement With Russian Government
The effort is part of Apple’s broader goal to become carbon neutral across its entire value chain by 2030.
Apple said it will directly eliminate 75 percent of emissions for its supply chain and products by 2030.
However, the fund will help address the remaining 25 percent of Apple’s emissions by removing carbon from the atmosphere.
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