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PBCs focus not just on profits, but other stakeholders such as people and the planet. And their numbers are growing.

Article content HALIFAX — Shareholders in some of the world’s largest tech firms will vote in the coming weeks on a range of resolutions that reflect growing concerns around the industry’s record on human rights, climate stewardship and governance. With strong shows of support for shareholder resolutions at companies that have already held their annual meetings, it could be the busiest year on record for activist investing. “Most shareholders abdicate their power without knowing they have it,” said Andrew Behar, CEO of activist-investor non-profit As You Sow. “But this past year w...

The Shareholder Commons continues to support shareholder action to address the empty promises recently made by hundreds of Business Roundtable members and others around their commitment to a corporate purpose and serving multiple stakeholders. This shareholder action has increasingly taken the form of proposals asking companies to become public benefit corporations (PBCs), which pursue profit while also independently accounting for social and environmental impact.

The Shareholder Commons to Present Shareholder Proposal Asking McDonald's to Disclose Systemic Costs of Antibiotics Use in Their Supply Chain Similar proposal withdrawn at Yum! Brands after company agreed to disclose the systemic costs of antibiotic use News provided by Share this article Share this article WILMINGTON, Del., May 5, 2021 /PRNewswire/ -- The Shareholder Commons, a non-profit organization advocating for a systems-first approach by business and investors, will present a shareholder proposal at the McDonald's annual shareholders meeting on May 20, 2021 asking the company to study ...

To print this article, all you need is to be registered or login on Mondaq.com. It's widely anticipated that we'll soon be seeing more action from the SEC on sustainability disclosure, including possibly a prescriptive ESG framework that draws on some global metrics.  (See,  e.g., this PubCo post and this PubCo post.) Trying to head those prescriptive ESG metrics off at the pass is Commissioner Hester Peirce—yes, she who once described "ESG" as standing for "enabling shareholder graft"—in her statement,  Rethinking Global ESG Metrics. With Gary Gensler now s...