The REP Wrap: Apple cuts emissions by 60% while India rethinks ESG rules
Your weekly summary of corporate sustainability news.
Apple has reduced its emissions by 60% against its 2015 baseline, and moved almost exclusively to recycled rare earths and cobalt, according to its latest environmental progress report. The tech titan said it uses 99% recycled rare earth elements for its magnets, and 99% of the cobalt in its Apple-designed batteries is also recycled. “Magnets are by far the most significant use of rare earth elements in Apple products overall, and Apple-designed batteries comprise over 97% of Apple’s total cobalt use,” it noted. The firm is further behind on water, with partnerships in place for just 40% of its 2030 target to replenish all freshwater withdrawals in high-stress locations.
The European Commission published the fourth version of its Frequently Asked Questions for the EU Deforestation Regulation this week, alongside an update to its official guidance on the rules. It also launched a consultation on a proposed new Delegated Act introducing technical fixes to the list of products covered by EUDR. That consultation is open until May 13th.
India looks set to become the next jurisdiction to rethink its ESG reporting requirements after complaints from industry. The country’s markets regulator, SEBI, is reportedly considering whether to pare back the rules, which have been phased in since 2022, with a focus on reducing the burden on smaller companies within supply chains. According to Reuters, a review is set to begin next month.
Meanwhile, the Asian Development Bank Institute has released the findings of a survey examining how financial regulators in the region are approaching the adoption of disclosure rules association with the International Sustainability Standards Board, and the recognition of voluntary carbon credits. The report is based on the responses of 12 Asian regulators, and the findings show nearly 70% plan to introduce mandatory disclosures and more than 40% plan to mandate the disclosure of Scope 1, 2, and 3 greenhouse gas emissions data.
The food industry faces up to $38trn in damages from extreme weather events by 2050, according to new research from the First Sentier MUFG Sustainable Investment Institute and Baringa. The report, published this week, concludes that weather events including temperature extremes, heavy rain, flooding and droughts, “have the potential to reduce agricultural yields up to 20% in a 2.5oC global warming by 2050 scenario”.
The US Securities and Exchange Commission has granted approval for the launch of the country’s first sustainability-focused stock exchange. The Green Impact Exchange, known as GIX, announced on Monday that it had had its application rubber stamped, and plans to start trading in the first half of 2026.
Australian cleaning company Clorox has been fined more than $5m by the federal court for falsely telling its customers that some of its bin bags were made from 50% ocean plastic, when the plastic was actually sourced from in-land locations in Indonesia.