On today’s ExchangeWire digest: Over Half of Companies Concerned about Unintentional Greenwashing; Microsoft Overtakes Apple as Most Valuable Company; Snapchat Subscribers Skyrocket with AI Features…
Misleading consumers with unintentional greenwashing is a significant concern for many, with data from Ivalua indicating that it troubles 53% of companies. The UK government is considering making Scope 3 emissions disclosure part of new regulations – this means companies would be held accountable for reporting the emissions in their value chain which they are indirectly responsible for, such as the disposal of products. Data reveals that only 44% of organisations are confident they can accurately report on this. This paints a worrying picture for potential greenwashing allegations in the future.
For the first time in two years, Microsoft has overtaken Apple as the most valuable company globally. Last Friday, the trading session ended with Microsoft’s value higher than Apple’s for the first time since 2021. Microsoft’s market capitalisation stood at its highest ever: USD $2.887tn (£2.268tn). Apple’s value has fallen 3% so far this year, over concerns regarding smartphone demand. Microsoft’s value surged 57% during 2023, largely due to its investment in OpenAI.
Snapchat is also soaring right now, thanks to the introduction of its new AI features. The platform has reached seven million paying subscribers – Instagram and X, in comparison, have struggled to surpass one million subscribers. According to a marketers survey by WARC however, only 21% of respondents reported plans to increase ad spend on Snapchat in 2024.
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