US: Apple faces down climate change deniers
Date: 3 Mar 2014
Apple chief executive Tim Cook rejected arguments at the company's AGM that it should avoid "unprofitable" action to reduce its impact on climate change. He said that the company didn't only consider return on investment when it took action on social issues such as the environment, and access for people with disabilities. Tim Cook told the AGM that Apple's intent was to "leave the world better than we found it."
The challenges came from the National Center for Public Policy Research (NCPPR), which campaigns against action to address climate change. Cook told them that if his group did not believe in climate change, he should sell his Apple shares. "If you want me to do things only for ROI reasons, you should get out of this stock".
The NCPPR issued a statement after the event saying that Apple had told its investors to "drop dead". It added "After today's meeting, investors can be certain that Apple is wasting untold amounts of shareholder money to combat so-called climate change."
Shareholders seemed unconcerned about the charge, with the NCPPR's shareholder proposal receiving just under 3 percent of the vote.
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In a recent article, the BBC's economics editor Robert Peston highlighted the fact that in 2012 the chances are that the economy - punch drunk as it is from the various flavours of debt crisis it has been pummelled with over the course of the year - will be hit by the collapse of a major bank and / or government.
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