When you purchase a (PRODUCT)RED iPhone SE, Apple will contribute directly to the COVID-19 relief fund.
In its continued efforts to help fight against the global pandemic, any (PRODUCT)RED purchase made on Apple's website will directly contribute to the Global COVID-19 Relief Fund, including the new iPhone SE.
AppleInsider spotted the change on Wednesday morning, but it is unknown when the rest of the website changed. Apple quietly updated their website to show the change, and contributions will continue until at least September 30.
This is in addition to all of Apple's other efforts in the fight against coronavirus. So far Apple is involved in many funds and has donated millions to local and global efforts. They have even joined with the Emerson Collective to create the America's Food Fund.