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Illustration: Aïda Amer/Axios

Apple on Thursday announced it's launching a $200 million "Restore Fund" that will "make investments in forestry projects to remove carbon from the atmosphere while generating a financial return for investors."

Why it matters: The move is the latest step by the world's largest tech companies to invest in climate initiatives, including a number of efforts to finance technologies and methods to not only cut emissions, but remove atmospheric CO2.

  • Microsoft and Amazon have also been active in the carbon removal space.

Driving the news: The environmental group Conservation International is a co-investor in the new fund and Goldman Sachs will manage it, Apple said.

  • It aims to remove at least 1 million metric tones of CO2 annually, Apple said, calling it equivalent to fuel use of over 200,000 passenger cars.
  • The three participants plan to identify specific projects later this year, the announcement states.
  • Apple said it will complement its ongoing work to wring emissions out of its supply chain and products.

The intrigue: Accurately and precisely accounting for how forests, wetlands and other nature-based projects help remove emissions is a tricky thing.

  • Apple said that to ensure the CO2 storage is correctly quantified and permanent, the new fund will "use robust international standards developed by recognized organizations," including UN climate bodies.

Of note: Speaking of Big Tech and climate, CNET reports: "Facebook said Thursday that since 2020, all its operations have been fully supported by renewable energy, hitting a goal the social media giant set in 2018 to combat climate change."

  • The site Grist, meanwhile, reports on a new campaign by the group ClimateVoice to push tech behemoths to "devote one-fifth of their lobbying dollars to climate policy in 2021."

Go deeper

John Kerry travels to China for climate change talks

John Kerry, U.S special presidential envoy for climate, gestures as he arrives at the Ministry of Finance in New Delhi, India, on April 6. (T. Narayan/Bloomberg via Getty Images)

John Kerry, President Biden's special envoy on climate change, is traveling to Shanghai, China and then on to South Korea for meetings on reducing emissions of planet-warming greenhouse gases, the State Department said.

Why it matters: Kerry is the highest-ranking U.S. official to visit China since Biden took office, and these talks come less than two weeks in advance of a virtual White House climate summit on April 22-23.

Ben Geman, author of Generate
Apr 14, 2021 - World

John Kerry and China's long road ahead on climate

Photo illustration: Aïda Amer/Axios. Photo: Brian Snyder/AFP via Getty Images

Yes, special climate envoy John Kerry's really in China and no, don't look for a huge breakthrough between the world's two largest carbon-emitting nations.

Driving the news: The State Department yesterday announced Kerry's visit this week, confirming plans that began emerging Saturday.

Updated 1 hour ago - Politics & Policy

First fatality confirmed in downtown Austin mass shooting

Police barricades near the scene of a shooting in Austin, Texas, on Saturday. Photo: Sergio Flores/Getty Images

A 25-year-old man died Sunday of injuries sustained in a mass shooting that wounded 13 other people in downtown Austin, Texas, the previous day, police confirmed.

Driving the news: Austin police named the victim as Douglas John Kantor, as they continued to search for one of two suspects. One suspect was taken into custody on Saturday following the shooting on 6th Street, a popular area with bars and restaurants.

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