Plus, tech employees missed out on $5 billion due to 401(k) fossil fuel investments ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

[Image alt text: As You Sow® banner with logo, image of mountains and a lake, and text saying: The nation’s leading non-profit shareholder advocate, with a 30+ year track record of changing corporations for good] < [link removed] > Dear John,

It’s Earth Day 2024 and we’re excited that the world is changing, thanks to the fortitude of people like you. This year we’re seeing major progress, including a new report finding that 2 million employees from 12 tech sector companies could have earned $5 billion in additional returns had their company 401(k)s stepped away from fossil fuel investments; huge strides toward reducing plastic waste and creating a circular economy; and the 20th edition of Proxy Preview showing how shareholders are holding corporations accountable across the board. Take a look:

[Image alt text: A smokestack spews steam into the sky while a red stock line goes down. A banner at the bottom says "THE IMPACT OF ENERGY SECTOR INVESTMENTS ON THE FINANCIAL VALUE OF TECH 401K FUNDS"] < [link removed] >

New Study Finds Big Tech Employees Missed Out on $5 Billion Due to Company Fossil Fuel Investments in their 401(k) Plans

Researchers at the University of Waterloo, in partnership with As You Sow, will release a new report on April 30 followed by a webinar on May 15 < [link removed] > finding that 2 million employees from 12 tech companies could have earned an estimated $5.1 billion in additional returns had their companies moved to decarbonize their retirement plan holdings 10 years ago.

The report analyzed the 401(k) plans of the Big Five tech companies – Amazon, Apple, Google, Meta, and Microsoft – as well as seven additional tech companies: Adobe, Broadcom, Intuit, Netflix, Oracle, Qualcomm, and SAP America. Looking at the fund options offered by 12 tech sector retirement plans, the report estimated cumulative 10-year returns with and without fossil fuel energy sector investments, and found a difference of +8.9%, or +0.86% per year invested in favor of fossil fuel-free portfolios.

Despite these companies publicly announcing climate goals and often asserting climate-friendly branding, they continue to invest billions of dollars of employee savings into fossil fuels and other industries accelerating climate change.

Register for the webinar, May 15th < [link removed] >

[Image alt text: Plastic waste versus reusable utensils]

Huge Progress on Plastic Pollution: Highlights from This Year

Some of our most powerful wins so far this year are in reducing plastic waste and working toward a circular economy –
- Hormel committed to reduce packaging use by 10 million pounds by 2030. The company also agreed to form a new industry working group to advance circular packaging policy and produce a report detailing opportunities to take additional action. In response, As You Sow agreed to withdraw its shareholder resolution < [link removed] > with the company.

- Amazon will phase out plastic mailers. In July 2023, Amazon reported a significant drop in plastic use – 12% decrease in plastic used to fill orders – and said it would phase out its non-recyclable blue and white plastic mailers, both actions sought by As You Sow in dialogue and through recent shareholder resolutions < [link removed] > .
- Microsoft delivered on device repairability. In 2021, with unprecedented global publicity, As You Sow reached a resolution withdrawal < [link removed] > on device repairability with Microsoft. In upholding the agreement, Microsoft released a new study evaluating device repairability and launched its most repairable device, the Surface Laptop Studio 2, including self-repair instructions, with custom tools and parts available for purchase.
- Keurig Dr. Pepper introduced a package-free coffee pod. In March 2024, Keurig Dr. Pepper announced a new plastic-free coffee pod with a compostable lining, a step toward fulfilling the company’s 2021 withdrawal agreement < [link removed] > with As You Sow to reduce plastic use by 20%.
- Yum! Brands will launch reusable packaging. Following in the footsteps of As You Sow’s 2023 withdrawal with McDonald’s on reusable packaging, Yum! Brands pledged to As You Sow to match its competitor and also produce a report on opportunities to expand its use of reusable packaging. In exchange, As You Sow withdrew its resolution < [link removed] > .

[Image alt text: Proxy Preview 2024 report cover] < [link removed] >

Proxy Preview 2024 – 20th Anniversary Edition

Proxy Preview 2024 < [link removed] > is a comprehensive review of more than 525 environmental, social and governance (ESG) shareholder resolutions. This year,shareholders filed more than 190 environmental resolutions, an increase of nearly 20% from 2023.Social issues ranging from corporate political influence to diversity, equity, and inclusion (DEI) and human rights made up 52% of this year’s proposals.

Political backlash against shareholders is a central theme to this proxy season, including ExxonMobil’s lawsuit against its own investors for introducing climate-focused resolutions; an ongoing House Judiciary Committee investigation targeting shareholders, proxy advisors, asset managers, and banks for alleged antitrust activities; and a significant number of anti-ESG bills being introduced at the state level across the country.

Shareholders are using resolutions to raise new issues like biodiversity loss and the implications of artificial intelligence on business. Five resolutions ask for biodiversity impact assessments. Thirteen challenge technology and media companies like Alphabet, Google’s parent company, on guiding ethical principles on artificial intelligence, misinformation, and human rights impacts.Together we’re at the forefront of powerful, positive change toward a future we can believe in. Thanks to you, real progress is taking place, for people and the planet. We’re accomplishing so much, and this is just the beginning.

For the future, [Image alt text: Photo of Jenna Belisle] Jenna L. Belisle

Director for Charitable Giving

Donate < [link removed] >

As You Sow’s 30+ year track record promoting corporate responsibility spans a broad range of the most important environmental and social issues facing corporations, investors, and citizens today, including changes to climate and supply chains, regenerative business practices, food that is safe to eat, workplace diversity, racial justice, and excessive executive compensation. Click here to donate. < [link removed] > < [link removed] > < [link removed] > < [link removed] >
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DISCLAIMER: As You Sow is not an investment advisor, nor do we provide financial planning, legal or tax advice. The content of our programming, publications and presentations is provided for informational and educational purposes only, and should not be considered as information sufficient upon which to base any decisions on investing, purchases, sales, trades, or any other investment transactions. We do not express an opinion on the future or expected value of any security or other interest and do not explicitly or implicitly recommend or suggest an investment strategy of any kind.

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