Metro Inc. | Preservation of biodiversity at Metro Inc.

Status
37.06% votes in favour
AGM date
Previous AGM date
Proposal number
5
Resolution details
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Biodiversity / nature
  • Land use inc. deforestation
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Staples
Company HQ country
Canada
Resolved clause
It is proposed that Metro Inc. specify in a Code of conduct with its suppliers its requirements regarding the commitments it wishes to see from its suppliers to preserve biodiversity.
Supporting statement
In a recent article, you mentioned that you were working on a Code of Conduct to properly manage your relationships with your suppliers. As shareholders, we believe that the loss of biodiversity represents significant risks. In addition, we believe that taking it into account can be an important asset for its development and growth. Moreover, this is the main conclusion of a report published last September by the Boston Consulting Group (BCG) on the agri-food sector. According to its authors, who point out that agriculture is responsible for 80% of global deforestation, the current system is no longer sustainable: “the quest for high yields (...) has led to a global standardization of commodities at the expense of sustainability and resilience. Agriculture has become a major contributor to global biodiversity and environmental degradation.” The use of regenerative agriculture by Metro Inc.’s suppliers may be one way to meet this preservation goal. According to The Carbon Underground, this type of agriculture can be defined as follows: “crop and pasture practices that, among other things, reverse climate change by rebuilding soil organic matter and restoring degraded soil biodiversity, resulting in reduced carbon concentrations in the atmosphere and improvement of the water cycle.” Furthermore, BCG states, in the article cited above: “Companies that fail to promote biodiversity could see investors lose confidence over the long term and pull out in favor of more sustainable investments”, not to mention the “reputational risks that could lead to reduced demand or boycotts”. This is a trend that the health crisis — which acted as a ”vital reminder of what can happen when we ignore or fail to effectively address existential threats” — has further exacerbated, with 70% of BCG respondents saying they are more concerned about the environment than they were before the COVID-19 pandemic.

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