For Immediate Release
Union Shareholder Proposal Highlights Human Rights Risk at Canada’s Largest Food Retailer
On April 30, 2020, BCGEU will present a human rights shareholder proposal at Loblaw's annual general meeting. According to international reports, Loblaw is a human rights laggard behind global peers.
WHO: B.C. Government and Service Employees' Union (BCGEU)
WHAT: Shareholder proposal presentation at Loblaw's Annual Shareholder Meeting
WHEN: April 30, 2020, 11:00am - 12:30am EST
WHERE: The AGM is taking place online. Attendees can use password loblaw2020
WHY: Canada's largest food retailer scores poorly on international human rights assessments, and while its global peers have adopted the UN Guiding Principles on Business and Human Rights, Loblaw has not done so, nor has it assigned board-level responsibility for human rights. Shareholders believe that expanding the mandate of the Risk and Compliance Committee would better position Loblaw to quickly identify and mitigate human rights risks and would allow shareholders to better understand the potential impact of these risks on shareholder value.
Under BCGEU's capital stewardship strategy, the union has submitted shareholder proposals to companies including Royal Bank of Canada, Brookfield Asset Management and Loblaw on topics like human rights, sexual misconduct, and executive compensation. The union's strategy has succeeded in achieving strong commitments on human rights due diligence, vertical pay analysis, food waste and climate disclosure.
Read the shareholder proposal and cover letter: https://d3n8a8pro7vhmx.cloudfront.net/bcgeu/pages/896/attachments/original/1588094938/2020_Loblaw_shareholder_proposal_.pdf?1588094938
For further information and media requests, please contact:
Emma Pullman, BCGEU, [email protected]
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