How other organisations have declared their voting intentions
|Declared voting intentions
|EFG Asset Management
|In its proxy statement and on its website, Amazon discusses a number of initiatives it has undertaken to work with vendors to design packaging that uses less plastics or is more recyclable. It has apparently designed more recyclable mailers and has worked to reduce plastics use in its retail stores. It has started a plastic film recycling program and has donated to the Closed Loop Infrastructure Fund to improve recycling infrastructure.
While the company discusses the impact in terms of plastic waste reduction, it does not provide an overall baseline amount of plastic used throughout its supply chain. Although the company disputes Oceana s claims regarding Amazon s plastic use, it does not provide competing data that allows investors to assess its progress. It has not joined the Ellen Macarthur Foundation initiative that appears to be a leading collaboration for reducing single-use plastic waste. Several of the company's peers have announced goals specifically around single-use plastic reduction.
Concern over the environmental damage caused by plastics is rising and regulations are likely to go into force in a number of jurisdictions that would limit the amount of single-use plastic packaging that can be used. Such additional disclosure as is being requested by the proponent would help shareholders gauge whether the company is appropriately managing risks related to the creation of plastic waste. As such, this shareholder resolution warrants support.
|In our view, additional disclosures on the company’s plastics use, especially regarding packaging, is key to keep track of the company’s commitments and assess progress in terms of waste reduction.
|ACTIAM is a co-filer of this resolution. Although Amazon has taken some steps to reduce its use of materials like plastic, ACTIAM believes that shareholders would benefit from enhanced disclosure to enable the setting of more ambitious targets.
DISCLAIMER: By including a shareholder resolution or management proposal in this database, neither the PRI nor the sponsor of the resolution or proposal is seeking authority to act as proxy for any shareholder; shareholders should vote their proxies in accordance with their own policies and requirements.
Any voting recommendations set forth in the descriptions of the resolutions and management proposals included in this database are made by the sponsors of those resolutions and proposals, and do not represent the views of the PRI.Information on the shareholder resolutions, management proposals and votes in this database have been obtained from sources that are believed to be reliable, but the PRI does not represent that it is accurate, complete, or up-to-date, including information relating to resolutions and management proposals, other signatories’ vote pre-declarations (including voting rationales), or the current status of a resolution or proposal. You should consult companies’ proxy statements for complete information on all matters to be voted on at a meeting.