Apple is known as one of the most environmentally conscious companies in the world, but some shareholders think the company needs to to a lot more if it hopes to meet the aggressive goals set by the Paris Agreement last year.
Boston-based investment firm Jantz Management has filed a resolution for Apple shareholders that would request that the Board of Directors reveal on plan to shareholders by June 2016 on how Apple plans to reach net-zero greenhouse gas emission status for its facilities and major suppliers by 2030.
In the resolution filed by Jantz Management this week, the firm argues that the Paris Agreement’s target is most ambitious than Apple may have anticipated so the company should start planning now on how it plans to help keep the global warming temperature to no more than 1.5 degrees Celsius.
“Assuming that the period for replacing or refurbishing Apple supplier facilities is generally every ten years, then the proposed horizon allows enough time to efficiently plan for a net zero goal by 2030,” Jantz argues in the SEC filing.
Apple has already made great strides by running all of its stores and offices in the US with renewable energy, but the the company’s supply chain is not nearly as green and contributes a much higher percentage to the company’s overall carbon footprint. Green efforts in China are now providing 2 gigawatts of clean energy to suppliers. Even though an additional 400 megawatts of solar energy produced by Foxconn will come online in 2018, the new green energy will only account for about 15-20% of Apple’s total manufacturing emissions.
Jantz points to Siemens as an example of how Apple could reach net-zero emissions by 2030. Siemens makes all its own hardware and announced last year that it aims to be the world’s first major industrial company to achieve a net-zero carbon footprint by 2030. The company expects to save €20 million per year after making a €100 million investment in improving energy efficiency.
Hitting zero emissions by 2030 isn’t just good for the planet though. The filing also claims by leading the way for other corporations, Apple’s brand and credibility will increase, and so too will its shareholder value.
Source: SEC
