May 30, 2022
Amazon’s investor-led proposal to review the use of plastic did not materialize after it received only 49% support at the company’s annual general meeting.
The proposal was one of 15 resolutions rejected by shareholders. To move to the next stage, it must reach the 51% mark to be approved. For Amazon, about 13% of the company’s voting stock is controlled by founder and Executive Chairman Jeff Bezos.
Some other proposals rejected by shareholders include a proposal for a report on whether Amazon’s cloud surveillance and other capabilities contribute to human rights abuses, with only 40% supporting the proposal.
The proposal to review the safety of Amazon workers was rejected by 87% of shareholders, with 39% voting in favor of a resolution on unionization of workers, and 47% in favor of a report on whether Amazon’s lobbying activities are in the best interests of shareholders.
The proposal to review Amazon’s facial recognition technology received only 41% of the vote, while a report for more details on gender and racial pay received 29% support from shareholders.
Although the 15 proposals did not get through, the resolutions are not binding, but companies can decide to examine issues that were mainly supported by shareholders.
The sources for this piece include an article Reuters.
