Introduction Climate Change Resources Smarter Chemistry Engagement and Advocacy Appendix 2023 Environmental Progress Report 28 The first phase of our innovative fund has focused on To improve the accuracy of monitoring, reporting, and The expanded fund will target two types of investments: High-quality carbon offsets $200M blending responsible forestry practices with carbon verification of the projects’ carbon removal impact, Apple sustainable agriculture and other ecosystem assets, as an interim solution removal. We’re working with forestry managers to create is deploying innovative remote sensing technologies and a pipeline of landscape restoration projects that Apple committed up to sustainably managed forests that are optimized for both using Space Intelligence’s Carbon and Habitat Mapper aim to remove carbon from the atmosphere. Together, We plan to reach our goal of becoming carbon neutral $ 200 m illion in additional funds carbon and wood production in order to create revenue and Upstream Tech’s Lens. Using high-resolution this unique blended fund structure will continue across our entire value chain by 2030, using a wide to expand the Restore Fund. from timber and generate high-quality carbon credits. satellite imagery from Maxar and other providers, this to demonstrate that we can invest in high-quality range of solutions at our disposal, prioritizing significant The projects also seek to maximize environmental initiative enables us to view detailed habitat and forest nature-based projects to achieve both financial and emissions reductions and long-term carbon removal impact, including carbon, hydrology, and habitat carbon maps for our Restore Fund projects. Through carbon returns. initiatives like the Restore Fund. But as the projects in the restoration. In October 2022, Apple announced three our engagement with the MIT Climate & Sustainability Restore Fund come online, we’re also working to address new projects through the Restore Fund. In partnership Consortium, Apple is jointly funding research with Integrity and a rigorous approach are central to how difficult-to-avoid emissions in the short term. with Conservation International and Goldman Sachs, PepsiCo and Cargill on improving the measurement of we designed the Restore Fund with our partners. Apple has invested with three high-quality forestry soil carbon in nature-based carbon removal projects. And The projects aim to become certified to international We’ve been carbon neutral for our corporate emissions managers in Brazil and Paraguay with the goal of restoring Apple is separately exploring the use of LiDAR data using standards developed by organizations such as Verra, since April 2020. We started by reducing our corporate 150,000 acres of certified sustainable working forests iPhone to improve field measurements of forest carbon. Gold Standard, the Climate, Community & Biodiversity emissions through the use of 100 percent renewable and protecting around 100,000 acres of native forests, Alliance (CCBA), and the Forest Stewardship Council electricity and energy efficiency efforts at our facilities. grasslands, and wetlands. Together, these initial forestry Based on our learnings with these projects and the (FSC). Use of these international standards helps confirm But emissions remain difficult to avoid in some projects are forecast to remove one million metric tons of growing global need for more nature-based solutions, that the carbon stored in forests is measured and activities — including the natural gas used in some of carbon dioxide from the atmosphere starting in 2025. Apple announced an expansion of the Restore Fund in reported to the highest standards and that projects have our buildings and emissions from business air travel and 2023. Apple has committed additional funds — up to the most up-to-date safeguards in place. The projects employee commute. $ 200 m illion — that will be managed by Climate Asset we choose will also seek to have a positive impact on the Management, a joint venture between HSBC Asset livelihoods of local communities by bringing economic For the emissions we can’t avoid, we use high-quality Management and Pollination. The commitment will opportunities to often underserved rural economies. And offsets as an interim solution. We’re intentional about support a broader portfolio of high-quality nature-based we’ll continue to focus on projects that protect lands with identifying avoided deforestation and removal projects projects that scale up carbon removal while seeking to high conservation values. that are of the highest standard and that achieve achieve a financial return on investment. meaningful impact. We often originate our own projects working with a reputable partner, like Conservation International, or we carefully select projects from third- party certified registries. For more details about our purchases of carbon offsets, see Appendix A .