Thursday, 24 May 2018

McDonald's shareholders reject proposal to require the firm to move towards phasing out plastic straws



McDonald's shareholders have rejected a proposal to require the firm to move towards phasing out plastic straws.

 
The idea, which was backed by activist group SumOfUs, was backed by less than 8% of the vote at the company's annual meeting on Thursday.


McDonald's had recommended against the measure saying it was "unnecessary" and "redundant".


SumOfUs said the vote was "not surprising".


SumOfUs has been pressing McDonald's to end its use plastic straws due to the impact on the environment and wildlife. An online petition on the issue has attracted nearly 500,000 signatures.
The proposal, put forward by a small shareholder and published in an SEC filing in April, argued that McDonald's could face a consumer backlash on environmental grounds.


It said the company "has an opportunity to improve its brand by demonstrating leadership in the elimination of plastic straws".


Sondhya Gupta, senior campaigner at SumOfUs, said she has seen McDonald's take steps to address the issue since the campaign started.


"We hope McDonald's will continue to take this issue seriously and we look forward to them reporting back on a timeline for instituting these important reforms," she said.





BBC     News.