Apple calls for far-reaching emissions disclosure rules

Investors have poured money into funds that use environmental, social and governance factors to pick stocks, but a lack of common standards has made it hard to compare issuers' operations.

By:REUTERS
| Updated on: Aug 21 2022, 16:33 IST
FILE PHOTO: Lisa Jackson, Apple vice president for Environment, Policy and Social Initiatives, speaks during an event at Apple headquarters in Cupertino, California March 21, 2016.  REUTERS/Stephan Lam/File Photo
FILE PHOTO: Lisa Jackson, Apple vice president for Environment, Policy and Social Initiatives, speaks during an event at Apple headquarters in Cupertino, California March 21, 2016. REUTERS/Stephan Lam/File Photo (REUTERS)

Apple Inc on Tuesday called for the U.S. Securities and Exchange Commission (SEC) to require companies to disclose far-reading emissions information such as how customers use their products, according to a tweet from Apple Vice President Lisa Jackson.

The comments by the iPhone maker mark the most specific prescription to date from a large public company about what disclosures are needed, said Veena Ramani, senior program director for Ceres, a Boston-based climate advocacy group.

You may be interested in

MobilesTablets Laptops
4% OFF
Apple iPhone 15 Pro Max 1TB
  • Black Titanium
  • 8 GB RAM
  • 1 TB Storage
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
9% OFF
Apple iPhone 15 256GB
  • Black
  • 6 GB RAM
  • 256 GB Storage
9% OFF
Apple iPhone 15 Plus 256GB
  • Black
  • 6 GB RAM
  • 256 GB Storage

The SEC last month said it will seek input on how companies might report on their greenhouse gas emissions and other climate factors.

Also read
Looking for a smartphone? To check mobile finder click here.

Jackson, a former U.S. environmental regulator, in her tweet included a statement that Apple "believes that the SEC should issue rules to require that companies disclose third-party-audited emissions information to the public, covering all scopes of emissions, direct and indirect, and the value chain."

ALSO READ: Apple announces ‘Spring Loaded' virtual event for April 20; Mini LED iPads, AirTags and more expected

An Apple spokeswoman confirmed the phrasing referred to so-called Scope 3 emissions like those resulting from the use of a company's products by other parties. While that can be simple for technology or finance companies to provide, calls to publish the data can be controversial for other industries.

In reporting its Scope 3 emissions in January for the first time, oil major ExxonMobil Corp wrote that the data "is less certain and less consistent because it includes the indirect emissions resulting from the consumption and use of a company's products occurring outside of its control."

ALSO READ: US senator wants to ban Big Tech from buying anything ever again

Various other business leaders have previously called for mandatory climate disclosures including Larry Fink, CEO of top investor BlackRock Inc. In February, BlackRock also urged heavy polluters to disclose their Scope 3 emissions to investors, like the Task Force on Climate-Related Financial Disclosures has also recommended.

In addition, Apple was among hundreds of companies that on Tuesday pressured the administration of U.S. President Joe Biden to slash greenhouse gas emissions.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 14 Apr, 08:00 IST
Tags:
NEXT ARTICLE BEGINS