Dear John,
Despite unprecedented pushback on shareholder rights, we continue to make impact. Take a look at some of this year’s action numbers and standout stories below. | | |
The year in numbers: Our corporate engagements in 2025 remain strong - We held 137 engagements with 117 companies across all 12 issue areas
- 11 engagements led to company action without escalating to a resolution and, of 74 resolutions filed, 23 were withdrawn when companies agreed to take action
- $1.2 trillion of total share value was voted in support of our resolutions
| | | | | | Three standout stories
The stories below illustrate shareholder advocacy’s unique capacity to produce powerful change across a wide range of issue areas. | |
| | | | | Stopping an unnecessary and exploitative coal plant in Kenya
In 2018 As You Sow began voicing concern about General Electric’s involvement in a planned coal power plant in the community of Lamu, in Malindi, Kenya. The plant was not needed by the community, would pollute the local environment, and raise electricity rates while failing to comply
with Kenya's environmental assessment laws. | | | | Despite all this, the plant had already been approved for construction. As You Sow called on GE to consider that the plant was at odds with GE's public positioning on climate change, and its commitment to transparency and compliance with environmental laws. This engagement led to the filing of a proposal, and GE’s agreement to assess the adequacy of its climate-related criteria for ensuring that its investments in emerging market fossil fuel projects are consistent with the Paris Agreement's well below 2 degree goal. We continued working with the company
thereafter, including a withdrawal in 2020 in which GE agreed to report if and how it planned to modify its operations and investments to reduce its total carbon footprint, and a 98% vote in 2021 on a Net Zero-related proposal. After a long legal battle, this year, approval of the Lamu coal plant has finally been overturned by the Environment and Land Court in Malindi, Kenya. | | | | | | Engaging with Amazon to set an example on value-chain emissions | | | | In response to calls for climate risk mitigation, some companies are producing unclear or misleading emissions statements that exaggerate climate benefits and obscure growing climate risk. | | | |
| To promote
accountability, we have had an ongoing engagement with Amazon, asking the company to report on value-chain emissions (emissions from all Amazon brand retail products sold on Amazon platforms). In the face of the company’s intransigence, we are building a coalition of institutional investors to engage with Amazon on complete, transparent disclosure practices. More info. | | | | | | | Our agreement with Mission Produce on avocado deforestation results in major shift for the industry
In 2023, The New York Times published an article exposing rampant illegal deforestation in Mexico’s avocado industry. | | | | In response, we engaged with Mission Produce seeking a commitment to only purchase avocados certified as legally grown through the Pro Forest Avocados (PFA) certification program created by the Mexican state of Michoacán. Mission’s agreement demonstrated confidence in the certification system, helping to
drive its adoption as the industry standard. Our subsequent engagements led to Kroger, Costco, and other major retailers agreeing to purchase only certified avocados! More info. | | | | | The proof is in the pushback
These are just three stories resulting from 137 corporate engagements we held this year, thanks to your
support. Shareholder advocacy is one of the last remaining tools to create positive change in the corporate world, which is why the radical right’s campaign to prevent our work also continues to expand.
Currently, new laws are being pushed to restrict the freedom of institutional investors to invest according to their analyses, and to reduce our ability to file proposals and engage effectively with corporations across a range of issues critical to long-term risk reduction and value creation.
Meanwhile, the SEC is tightening restrictions, making it harder to file shareholder resolutions and easier for corporations to remove our resolutions from ballots.
You can help us resist these attacks. Donate now and your gift will be matched 1:1 by our board of directors! | | | | | | Shareholder advocacy has proven to be one of the most effective levers for making powerful change by moving corporations to embrace sustainable, ethical practices. We have incredible momentum right now, but our future is uncertain without you. Make a gift today and ensure this progress continues in 2026. | | | | Andrew Behar
CEO, As You Sow
P.S. Here are two important reasons to use our free Invest Your Values platform to see what you’re really invested in:
Advancing Racial Justice with Social Justice Funds
Most mutual funds found in workplace retirement plans invest in companies that do some or all of the following: resist diversity, lack accountability on discrimination, reinforce systemic racism, widen the gender pay gap, or inflict harm on historically marginalized communities. We created Social Justice
Funds to help investors see the racial justice implications of their investments. Learn more here.
Is ICE in your 401(k)?
Immigration and Customs Enforcement (ICE) is rapidly expanding operations; it now detains nearly 60,000 people in immigration detention centers. Nearly 90% of people in ICE custody are held in facilities run by private companies like CoreCivic and GEO Group. It’s likely that your
employer-offered 401(k) is invested in these companies. Read more to see how our Prison Free Funds tool can show you whether you’re invested in for-profit prisons, and what to do if you are. | | | | As You Sow is the nation’s leading shareholder representative, with a 30+ year track record promoting environmental and social corporate responsibility and advancing values-aligned investing. Its issue areas include climate change, ocean plastics,
toxins in the food system, biodiversity loss, racial injustice, and lack of workplace diversity. See As You Sow’s shareholder resolution tracker. | | | As You Sow
11461 San Pablo Avenue, Suite 400
El Cerrito, CA
94530 | | | |
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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