AMAZON.COM, INC. | Additional reporting on stakeholder impacts (Just Transition) at AMAZON.COM, INC.

Status
27.94% votes in favour
AGM date
Previous AGM date
Proposal number
10
Resolution details
Company ticker
AMZN
Lead filer
The International Brotherhood of Teamsters (IBT)
Resolution ask
Report on or disclose
ESG theme
  • Environment
  • Social
ESG sub-theme
  • Just Transition
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Discretionary
Company HQ country
United States
Resolved clause
Resolved: Shareholders request the Board of Directors prepare a report disclosing how Amazon.com, Inc., (“Amazon” or the
“Company”) is addressing the impact of its climate change strategy on relevant stakeholders, including but not limited to
employees, workers in its supply chain, and communities in which it operates, consistent with the “Just Transition” guidelines
of the International Labor Organization and indicators of the World Benchmarking Alliance. The report should be prepared
at reasonable cost, omit proprietary information, and be available to investor
Supporting statement
Supporting Statement:
At the 2021 UN Climate Change Conference, the United States and other governments agreed to the Just Transition
Declaration, which aligns with the “Just Transition” guidelines in the International Labor Organization’s Guidelines for a just
transition towards environmentally sustainable economies and societies for all. The latter states that an environmentally
sustainable future requires “anticipating impacts on employment, adequate and sustainable social protection for job losses
and displacement, skills development and social dialogue.” (https://www.ilo.org/wcmsp5/groups/public/@ed_emp/
@emp_ent/documents/publication/wcms_432859.pdf.) Those guidelines emphasize the “pivotal role” of employers “in
bringing about social, economic and environmental sustainability with decent work and social inclusion.”
The World Benchmarking Alliance’s indicators include discrete, time-based indicators, including those tied to developing
a just transition plan through consultation with affected stakeholders; mitigating the negative social impacts of the
carbon transition on workers and communities; establishing a clear process for identifying job dislocation risks for
workers and communities; and developing plans to retain and reskill workers for an inclusive workforce. (See
https://assets.worldbenchmarkingalliance.org/app/uploads/2021/07/Just-Transition-Methodology.pdf.)
Amazon has pledged to reach net-zero carbon emissions by 2040, a goal that suggests dramatic transformations in the
way Amazon operates its vast transportation and logistical networks, bringing with it significant changes to the Company’s
human capital needs. We believe it is crucial Amazon develop its decarbonization strategy with a systematic focus on ensuring
a just and equitable energy transition. A 2022 study by the World Benchmarking Alliance found that the largest transportation
companies – many of which approximate Amazon’s own transportation network – were ill-prepared to manage the social
impacts of decarbonizing, placing millions of workers at risk. (See https://www.worldbenchmarkingalliance.org/publication/
transport/.)
A key area of uncertainty for investors is how some of Amazon’s technological solutions to the climate crisis, such as its
investments in electric and autonomous vehicles, impact jobs and communities, including those along its supply chains and
transportation networks. A just transition report would help investors better understand the interplay of these technologies,
the Company’s climate commitments, and its human capital management practices as well as its broader stakeholder
relationships. As one of the largest private employers in the world, with extensive logistical operations, Amazon has a key
role in supporting social fairness as the world attempts to decarbonize.

How other organisations have declared their voting intentions

Organisation name Declared voting intentions Rationale
Kutxabank Gestion SGIIC SAU. For
Anima Sgr For As the company does not clearly disclose whether and how it has considered human capital management and community relations issues related to the transition to a low-carbon economy as part of its climate strategy. Such disclosure would help shareholders evaluate the effectiveness of the company's environmental and social efforts and how it is managing any related risks.
VidaCaixa For

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