Apple is set to modify the bonuses that its execs receive this year based on environmental values.
As reported by Reuters, a new filing has stated that for the iOS creator’s executives to receive their bonus, they must abide by the company’s values when it comes to society and the environment.
For example, Apple has six clear targets when it comes to the environment, such as recycling. Meanwhile, inclusivity among its staff is also a target.
“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 program,” reads the filing.
Be green
However, it has not been stated as to how Apple will go about evaluating the performance of its executives and how they have abided by its values.
Meanwhile, it has been claimed that the potential cash payout to an executive will not be changed. Nor will the minimum requirements to qualify for a bonus.
“America’s ballooning executive compensation is neither responsible for the society nor sustainable for the economy, especially under the current pandemic crisis,” reads the filing.
“Reducing the (named executive officer) pay ratios should be included to the principles of executive compensation program.”
