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Kraft Heinz to Take Up 3 Shareholder Resolutions Dealing With Sustainability

When Kraft Heinz Co. takes up three shareholder initiatives dealing with sustainability, the board won’t support them. That’s according to Triple Pundit, which points out that the combined company formed in 2015 to make up the North America’s fifth larges food and beverage company.

At that time, Credo Action launched a petition against the merger of Kraft and Heinz, says the story, saying that the combined duo is “a threat to jobs, the environment, and affordable food.”

The story cites a report by report by Climate Smart Business, which says that emissions at the “food distribution, processing, retail, and food services sectors combined are projected at nearly 1 million tons of CO2.” Deforestation in Indonesia, for example, is one reason why.

It adds that the company lags behind similar companies like Uniliver when it comes to deforestation. The companies ranked 8th and 10th in a 2015 palm oil sourcing scorecard from the Union of Concerned Scientists, the story says.

The Rainforest Action Network (RAN) describes Kraft Heinz as “a laggard company that lacks a responsible palm oil policy,” as quoted in the Triple Pundit piece, noting that the report says the company should “adopt a globally responsible palm oil procurement policy.”

“Kraft Heinz recommended that shareholders oppose the deforestation resolution because the company has already ‘developed and implemented a global palm oil policy’ that states it will source 100 percent sustainable palm oil. But that policy lacks a target date,” says Triple Pundit.

Two other resolutions up for a vote include one by an interfaith investment group, which wants the company to produce a comprehensive look into environmental, social and governance targets. And the second involves a resolution put forth by As You Sow Foundation and Dignity Health, which has asked Kraft Heinz to issue a report “assessing the environmental impacts of continuing to use non-recyclable brand packaging,” the story says.

The resolutions “would not be an effective use of our company’s resources nor in the best interests of our company or our stockholders,” says Kraft, as quoted by Triple Pundit.

To read the full story, click here

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