ESG Focus Areas
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Shareholder Proposal: Tesla Inc. To escalate our engagement with Tesla we co-filed a sharehold - er resolution on labour rights at Tesla´s 2025 AGM, asking the board to adopt and disclose a Non-interference Policy upholding the rights to freedom of association and collective bargaining in its operations, in line with ILOs Declaration on Fundamental Principles and Rights at Work. We supported a similar proposal at Tesla´s 2024 AGM, a proposal that did not pass. Shareholder Proposal: Amazon Inc. To escalate our engagement with Amazon, we re-filed the shareholder proposal we co-filed last year. This proposal requests the board to commission an independent, third-party assessment of Amazon's adherence to its stated commitment to workers' freedom of association and collective bargain- ing rights. These rights are outlined in the company's Global Human Rights Principles, which explicitly reference the ILO's Core Conventions and Declaration on Fundamental Principles and Rights at Work. We made some updates to last year's pro- posal, including adding new controversies that have occurred, primarily in Europe, and highlighting that other major compa- nies, such as Starbucks and Apple, have already conducted similar assessments. At the 2024 AGM the proposal received 31.8% support, but Amazon has not responded to the share - holder proposal request.
Shareholder Proposal: Duke Energy Corp. Earlier this year, we co-filed a shareholder proposal at Duke Energy concerning their climate lobbying communication. This action was part of our ongoing engagement with the company, conducted both individually and through the Climate Action 100+ initiative. As a result of these efforts, we reached a suc - cessful withdrawal agreement. The company committed to two key concessions: publishing an updated list of policy attributes aligned with their decarbonization goals in their 2024 Impact Report, and providing a detailed table showcasing their activi- ties and positions on specific climate-related policies. Given the challenging U.S. climate policy landscape, this outcome enhances Duke Energy's lobbying transparency. Outlook 41 In the coming year, we anticipate an increased emphasis on securing minority shareholder protections and enhanc- ing diversity and inclusion initiatives. Our governance outlook includes an expectation that boards should ideally comprise at least 40% representation from each gender. Additionally, we expect boards to make progress towards aligning their strategies with the Paris Agreement goals, demonstrating a clear commitment to addressing climate- related risks and opportunities.
41) Reference to companies or other investments mentioned should not be construed as a recommendation to the investor to buy or sell the same but is included for the purpose of illustration.
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