Apple has announced that it will be using only recycled cobalt in its device batteries by 2025. The move is part of the company’s plan to become entirely carbon-neutral by 2030, and it aims to recycle other metals, such as rare earth metals, tin soldering, gold plating, and aluminum, used in its products. The announcement has been positively received by investors, with shares of Apple rising 2% after the news. The decision to switch to recycled cobalt is not only a “save the planet” story but also an economic one for Apple, as cobalt is the most expensive component of rechargeable batteries.
By recycling cobalt, Apple can potentially cut the cost of its products and boost its own profit margins. However, it remains to be seen if the cost of recycled cobalt is greater than the cost of buying newly mined cobalt. Despite this uncertainty, the move towards a 100% recycled consumer of cobalt should help Apple offset any additional cost for ESG-focused consumers and investors.
