P&G faces shareholder rebellion over deforestation debate

Tulipshare campaign

Elliot Gulliver-Needham
clock • 1 min read

Shareholders have called on Procter & Gamble to appoint an independent chair, following the firm’s decision to ignore a proposal to curb deforestation.

In 2020, a shareholder proposal demanding P&G evaluate how it can eliminate deforestation and primary forest degradation from its supply chains won 67% of the vote. However, Tulipshare, who led the campaign for the proposal, have since claimed that "no progress has been made by the company since". Top investors only voting for ESG proposals 7.5% of the time Concerns have emerged surrounding board suitability over the issue, with a new campaign calling for an independent chair to deliver on deforestation targets. Tulipshare highlighted that P&G are currently targeting primary...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on ESG

LSEG, Baillie Gifford and Ruffer among 120 investors calling for ISSB adoption
ESG

LSEG, Baillie Gifford and Ruffer among 120 investors calling for ISSB adoption

Sustainable reporting standards

Cristian Angeloni
clock 22 May 2024 • 2 min read
CCLA's James Corah: Unravelling the ESG identity crisis to put sustainable investing back on track
ESG

CCLA's James Corah: Unravelling the ESG identity crisis to put sustainable investing back on track

'Eventually people will discover the truth'

James Corah
clock 22 May 2024 • 4 min read
Sustainable investing continues to confuse investors despite FCA labels
ESG

Sustainable investing continues to confuse investors despite FCA labels

Alignment eludes consumers

Cristian Angeloni
clock 15 May 2024 • 2 min read
Trustpilot