At any point of the digital transition,…
In its annual agency document on Tuesday, on the afternoon of January 6, Apple reported that the company would change its cash incentives depending on whether or not the senior executives follow the social and environmental standards of the company. Apple did not reveal how to test it, though. The gradual recognition of zero carbon emissions in the supply chain, for instance, would directly include workers. Six principles were identified by Apple, including environmental sustainability initiatives such as the use of recycled goods in goods, the maintenance of workforce diversity and inclusiveness, and the enhancement of equipment privacy and safety.
Starting in 2021, we will consider environmental, social and governance variables, as well as other key community plans, based on the values of Apple in the annual cash incentive program,”Starting in 2021, we will consider environmental, social and governance factors, as well as other key community plans, based on Apple’s values in the annual cash incentive program.”
Apple said the minimum success criteria, goals and overall cash compensation caps of the organization for managers would not be changed.
However, depending on the success of the respective managers in the principles of Apple and other main community initiatives, the remuneration committee of the board of directors of Apple will raise or reduce the incentive volume by up to 10 percent.
The paper did not report the particular measurement procedure of the committee in depth.
In July last year, Apple announced that it plans to reach zero carbon emissions for the company as a whole by 2030, including its goods and the vast supply chain. At the time, the organization said it intended to meet 75 percent of the goal by lowering pollution, and the remaining 25 percent will be accomplished by offsetting projects such as tree planting and wildlife habitat conservation.
An Apple shareholder has recently indicated that executives should be cut because Apple’s corporate pay is so much higher than the median wage of regular workers. Apple recommends that other shareholders vote against this, and the proposed document mentions new evaluation criteria.
Prior to this, Canaccord Genuity increased the share price of the firm to $150, saying that in the first quarter of this year, Apple’s iPhone market and other hardware devices would experience double-digit growth. Loup Ventures said Apple will be FAANG’s top stock in 2021.