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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 35 mins ago - World

Biden sends envoy as Israel and Hamas escalate toward war

Palestinians in the Gaza Strip leave their neighborhood on Wednesday following an explosion. Photo: li Jadallah/Anadolu Agency via Getty Images

Tel Aviv — With Israel and Hamas now engaged in their most destructive fight in seven years, the Biden administration is dispatching a State Department official to join the de-escalation efforts.

The latest: The Israeli air force attacked a meeting of senior Hamas military leaders on Wednesday in Gaza and reported it had killed the Gaza City Brigade commander and the heads of Hamas’ cyber arm and weapons research and development department, along with at least three other senior officials.

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