P&G shareholders vote in landslide to address supply-chain deforestation

The majority of shareholders of international consumer goods company Procter & Gamble (P&G), which makes paper-based products like toilet paper, have voted to tackle supply chain loopholes that impact deforestation and forest degradation.  During their annual shareholder meeting on October 13 (which was virtual this year), shareholders voted yes on a resolution aimed to address deforestation and forest degradation. The majority of shareholders – 67% – voted in favor of the action, according to the Green Century Funds (GCF), which put the resolution up for a vote. According to their website, the GCF are a group of “fossil fuel free, responsible, and diversified mutual funds.” “P&G’s failure to adequately mitigate deforestation and forest degradation in its supply chains poses material financial risk to the company and its shareholders,” said Green Century President Leslie Samuelrich in a statement. “The company must catch up to its peers and enact stronger policies to prevent unsustainable forest products from entering its supply chain.” U.S.-based P&G is over 180 years old and headquartered in Cincinnati, Ohio. They operate in over 70 countries around the world in South America and Southeast Asia, regions that are plagued by the plundering of their natural resources, particularly when it comes to forests.  At issue in particular in the October 2020 shareholder vote, though, is wood pulp that’s being produced from Canadian boreal forests. According to P&G’s website, the company is already committed to stopping deforestation. But the GCF and points out that those commitments don’t include requirements to protect…This article was originally published on Mongabay
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