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98% of Bunge shareholders back proposal to reduce deforestation
The proposal by activist investment funds Green Century Capital Management and Storebrand Asset Management was approved with 98% of the votes.
Bunge’s decision follows those recently made by other big companies such as Procter & Gamble’s, Archer-Daniels-Midland Company, and JPMorgan Chase.
According to Green Century, the measure would help the Brazilian Cerrado, a savanna ecosystem known as “reverse forest” due to its extensive root system that stores large amounts of carbon.
In an unprecedented vote, 98% of shareholders of commodities-trading giant Bunge Limited have voted in favor of a proposal made by activist investment funds to strengthen the company’s non-deforestation policies.