Deforestation
Four proposals address deforestation and its connection to climate change. All are at food companies and seek information on commodity supply chains.
Pending: Just two resolution about deforestation are still pending. Green Century wants Bloomin Brands, which owns Outback Steakhouse, to report “assessing how the company could increase the scale, pace, and rigor of efforts to mitigate supply chain greenhouse gas emissions, inclusive of deforestation and land use change.” A similar resolution from SumOfUs is pending at Yum Brands, asking it to provide annual report “on how the company is curtailing the impact on the Earth’s climate caused by deforestation in YUM’s supply chain. The report should include quantitative metrics on supply chain impacts on deforestation and progress on goals for reducing such impacts.” A deforestation proposal at the company asking for sustainably sourced palm oil, soy, beef and pulp/paper earned 32 percent support at Yum last year.
Withdrawn: Green Century withdrew at Archer Daniels Midland after asking the company to report on “metrics regarding its supply chain impacts on deforestation, demonstrating any progress toward reducing such impacts.” No details on the agreement are yet available. But Tyson Foods made a commitment that prompted Green Century to withdraw a similar resolution, after it appeared in the proxy statement.
SEC action: Yum has challenged the proposal, arguing current reporting makes it moot.