Summary by Moomoo AI
Green Century Equity Fund has filed a shareholder proposal for IBM Corp's 2024 proxy statement, urging the company to adopt science-based greenhouse gas (GHG) emissions reduction targets across its full value chain to achieve net-zero emissions by 2050, in alignment with the Paris Agreement. The proposal emphasizes the need for independent verification of these targets to mitigate reputational risks and address investor concerns. IBM's current targets cover only 58% of its reported emissions, and the company has been criticized for not seeking third-party validation, which could undermine the credibility of its sustainability solutions and software. Industry peers such as Accenture, Microsoft, and SAP have already committed to similar science-based targets, leaving IBM at risk of falling behind. The proposal calls for IBM to demonstrate climate leadership and transparency, which could strengthen investor confidence and the company's long-term value.