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People walk past Apple's Fifth Avenue store, one of at least 120 Apple stores currently powered by renewable energy. Photo: John Moore/Getty Images

Apple said yesterday that it's joining with 10 suppliers to launch a new $300 million "China Clean Energy Fund" to enable its large supplier network there to expand renewable power use.

Why it matters: Corporate sourcing is increasingly a driver of renewable power deployment, and Apple's move show how it can evolve to fold in supply chains too.

Details: The tech giant announced a list of 10 suppliers that will work with the company to invest around $300 million over four years in projects that total over a gigawatt of power.

The intrigue: Via the Wall Street Journal, "Apple has gone on a charm offensive in China in recent years as it has looked to shore up its relationship with the Chinese government and consumers."

  • Apple said that joint efforts will enable suppliers "greater purchasing power and the ability to attain more attractive and diverse clean energy solutions."

The big picture:

  • "China’s government has made cutting pollution a key priority, putting pressure on local and international firms to help reduce high levels of smog in its major cities and clean up the country’s waterways and polluted soil." [Reuters]
  • Apple said in April that all of its direct operations worldwide are now powered wholly by renewables, and that nearly two-dozen suppliers have made that commitment for their Apple-related work.

Go deeper

1 hour ago - Health

J&J CEO "absolutely" confident in vaccine distribution goals

Johnson & Johnson CEO Alex Gorsky said Monday that he is "absolutely" confident that the company will be able to meet its distribution goals, which include 100 million doses by June and up to a billion by the end of 2021.

Driving the news: J&J is already in the process of shipping 3.9 million doses this week, just days after the FDA issued an emergency use authorization for the one-shot vaccine. Gorsky said he expects vaccines to be administered to Americans "literally within the next 24 to 48 hours."

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Clash of the central bankers

Photo Illustration: Eniola Odetunde/Axios. Photos: Bloomberg, Samuel Corum (Stringer)/Getty Images

While Fed chair Jerome Powell is brushing off the seismic rise in government bond yields and a corresponding decline in stock prices, a group of central bankers in the Pacific are starting to take action.

Driving the news: Bank of Japan governor Haruhiko Kuroda told parliament on Friday the BOJ would not allow yields on government debt to continue rising further above the BOJ's 0% target.

Biden expresses support for Amazon workers' union vote in Alabama

Photo: Joe Raedle/Getty Images

President Biden expressed support for a union vote by Amazon warehouse workers in Alabama in a two-minute video posted on Twitter Sunday, though he did not name the tech giant specifically.

Why it matters: A vote by workers at the Bessemer, Ala., warehouse to join the Retail, Wholesale and Department Store Union would make the facility the first Amazon warehouse to unionize in the U.S., per NPR. The election will run through March 29.