Dear John,
Vote results on shareholder resolutions are a ‘proxy’ for progress — our real goal is corporate action. The change we seek can and does happen with votes at every level, including as low as 5%, but higher votes create more pressure on management to pay attention. Last year we were thrilled to break previous records for majority votes with four votes over 50%. To put things in context – in our first 27 years of shareholder engagement, we earned a total of TWO majority votes. Last year’s majority votes ranged from 55% - 65%, with one at 79% — and this year’s results already are outstripping last year’s...
Astounding Vote Results
81% of DuPont shareholders want action on plastic pellet pollution! This vote is the highest ever shareholder vote on an environmental resolution opposed by company management. Pre-production plastic pellets are the 2nd largest source of ocean plastic pollution.
98% of General Electric shareholders voted in support of our resolution on the company’s plans to achieve net-zero greenhouse gas emissions across all its businesses. GE’s Board supported the resolution, an unusual and commendable move.
60% of American Express shareholders supported our resolution to improve AmEx’s workforce diversity, equity, and inclusion (DEI) practices.
54% of independent Berkshire Hathaway shareholders voted in favor of our resolution on its workforce DEI practices. (This was a 27%-in-favor vote; 54% after accounting for Warren Buffet’s own holdings.)
Investors are showing up in a way we’ve never seen before, and demanding action.
"Heads I win, Tails I Win Almost as Much"
CEOs have not taken the pay hit that so many of the rest of us have suffered during the pandemic. In fact, despite some abysmal financial returns, CEO pay was still stratospheric.
“These are the last people that need to have their pay accommodated,” said Rosanna Landis Weaver, As You Sow CEO PAY Program Manager, in an article in Bloomberg Wealth. “If its heads I win, tails I win almost as much — that’s not pay-for-performance. It’s just ridiculous.”
Ocean Heroes
The International Ocean Film Festival designated As You Sow an Ocean Hero — check out their Ocean Heroes page. We’re honored to be among such good company.
If you’ve read this far, you’re our hero!
Yours for a sustainable and just future,
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Andrew Behar
CEO |
