Apple Backs California Legislation To Encourage Transparency In Corporate Carbon Emissions

Apple Inc. (NASDAQ:AAPL) has publicly supported a bill in California, necessitating large corporations to report their yearly greenhouse gas emissions.

What Happened: Apple has lent its support to a California Senate bill that mandates companies with annual revenue of over $1 billion to disclose independently verified data on their emissions, reported Reuters.  

This endorsement was confirmed in a letter signed by Apple’s director for state and local government affairs, D. Michael Foulkes. 

The bill in question seeks to promote transparency concerning the environmental impact of businesses in California, a state acclaimed for its environment-friendly policies.

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Earlier this year, Adobe (NASDAQ:ADBE), Ikea, and Microsoft Corporation (NASDAQ:MSFT) also backed the bill, emphasizing the requirement for corporations to measure and report indirect emissions linked to their supply chains and end-users, known as Scope 3. 

Another bill under consideration could force companies with a revenue of $500 million operating in California to report on climate-related financial risks, the report noted. 

Why It Matters: Apple’s endorsement of this environmental legislation aligns with its recent strides toward environmental responsibility. 

In April earlier this year, Cupertino said the company was expanding its “Restore Fund” and doubling its commitment to high-quality, nature-based carbon removal projects. 

The tech giant also sparked speculation about its move towards eco-friendly materials for the iPhone 15 lineup cases and Apple Watch bands, potentially forgoing leather. 

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