Amazon’s shareholders have rejected 15 resolutions filed by investors in a push to influence the company’s environmental impact and the treatment of workers.
Shareholders on Wednesday voted against all resolutions, most of which focused on workers’ rights and other social issues. The resolutions included asking the company to report on the health and safety of workers and the treatment of workers in its warehouses, and a review of Amazon’s use of plastic and changes in the company’s process to to board nominations.
Amazon’s board had recommended that its shareholders vote against all resolutions, arguing in its power statement that it has already acted to address the underlying concerns of many of the proposals. Historically, shareholders have voted with the board’s recommendations. Jeff Bezos, the company’s chief executive, controls 12.7% of the total vote.
Although the resolutions are not binding, companies usually take some kind of action if they receive the support of 30% to 40% of the votes. While the activists ’resolutions were being closed, investors approved compensation from executives, board members and a division of shares.
A proposal from the Tulipshare activist investor group called on Amazon to conduct an independent audit of the warehouse workers’ wages and working conditions. Although the vote did not pass, the group plans to re-introduce the motion next year.
“Although we are disappointed that our proposal was not approved today, this vote was just the beginning of the struggle for workers’ rights,” said Antoine Argouges, CEO and founder of Tulipshare, adding that Amazon had not yet revealed the full result of the campaign. vote, or what percentage of the proposal was rejected.
“Based on the positive conversations we have had with major shareholders this week, we have every reason to believe that our proposal received strong support,” Argouges said. “Once the results are published, we will consider our options to continue the fight for better working conditions on Amazon.”
The increase in the number of resolutions highlights the increase in investment based on environmental, social and corporate governance (ESG), which is encouraging more shareholders to drive corporate responsibility.
It also reflects changes in securities regulators appointed by Joe Biden that have made it easier for investors to submit proposals and make it harder for companies to convince regulators that such resolutions should not be voted on by shareholders.
The record 15 resolutions are expected to be broken next week, when Google’s parent company, Alphabet, faces 17 social justice proposals on June 1, research firm Insightia said. the highest since it began to be closely monitored in 2014.
Reuters contributed to this report