Social and environmental values will determine bonuses for Apple executives

In its annual proxy
filing on Tuesday, tech giant Apple said it will weigh the top executives’ environmental
and social values within the company when calculating cash bonuses for them.

According to the
documents filed with the Securities and Exchange Commission, this was aimed at
motivating the executives “to meet exceptionally high standards of
values-driven leadership in addition to delivering strong financial results.”

The iPhone maker,
however, confirmed that the financial targets and thresholds for executive
bonuses will not change.

“Beginning in
2021, an environmental, social, and governance modifier based on Apple Values
and other key community initiatives will be incorporated into our annual cash
incentive programme,” Apple said.

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The company will
modify the executive bonuses based on several factors, including sustainable
energy, workplace diversity and other environmental and social issues.

“We’ve led the
industry in reducing our environmental footprint for years and are committed to
one day sourcing 100% recycled and renewable materials across all of our
products and packaging,” Apple said in the filing.

“We believe
diversity drives innovation and is key to our success,” the company added.