Apple CEO Tim Cook Reaffirms Commitment to Being Carbon Neutral by 2030

Apple CEO Tim Cook recently reiterated the tech giant’s commitment to “becoming carbon neutral across [its] supply chain and products by 2030.”

In a press release announcing the company’s first-quarter earnings on January 27, Cook said: “We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

The Apple chief reaffirmed this statement during the company’s earnings call. “We are already carbon neutral across our own operations, and we are working intensely to meet our 2030 goal of carbon neutrality across our supply chain and the life cycle of our products,” he said.

Apple originally announced its intentions of becoming carbon neutral by 2030 in July, 2020. The company’s complete plan and how it measures its carbon footprint can be found in its 2020 Environmental Progress Report.

Apple posted an all-time revenue record of $123.9 billion for its fiscal 2022 first quarter that ended December 25, up 11% year-over-year, and quarterly earnings per diluted share of $2.10.

Investors seeking exposure to Apple through an ESG lens may want to consider the SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). SPYX carries Apple (AAPL) at a 7.3% weight, making the stock the ETF’s top holding.

SPYX tracks the S&P 500 Fossil Fuel Free Index, a benchmark of companies within the S&P 500 that are “fossil fuel free,” defined as companies that don’t own fossil fuel reserves (thermal coal reserves and coal reserve byproducts, as well as oil or gas reserves).

SPYX has an expense ratio of 0.20%.

For more news, information, and strategy, visit the ESG Channel.