SAN FRANCISCO – Apple is making environmental and social values elements it can weigh when calculating bonuses for prime executives, based on a regulatory submitting on Tuesday.
The change taking impact this yr is meant to encourage Apple executives “to fulfill exceptionally excessive requirements of values-driven management along with delivering sturdy monetary outcomes,” the Silicon Valley know-how titan mentioned in proxy paperwork filed with the Securities and Change Fee.
Monetary targets and thresholds for government bonuses at Apple is not going to change, the iPhone maker mentioned.
“Starting in 2021, an environmental, social, and governance modifier primarily based on Apple Values and different key neighborhood initiatives shall be integrated into our annual money incentive program,” Apple mentioned within the submitting.
Dwelling as much as Apple’s said values relating to sustainable power, office range and different environmental and social points shall be amongst elements thought of when deciding whether or not bonuses ought to be elevated or decreased by as a lot as 10 %, based on the corporate.
“We’ve led the business in lowering our environmental footprint for years and are dedicated to sooner or later sourcing 100 % recycled and renewable supplies throughout all of our merchandise and packaging,” Apple mentioned in a bit of the submitting outlining its values.
“We imagine range drives innovation and is essential to our success.”
Apple is to report is earnings for the ultimate three months of final yr on January 27, and has a digital annual shareholders assembly slated for February 23.