At the urging of shareholders, ExxonMobil has agreed to report on plastics spills and management of plastics handling, As You Sow announced Wednesday.
At the same time, a shareholder resolution asking Starbucks to better manage packaging is gaining support, the environmental advocacy group said.
The work with these two companies is an example of the progress shareholders are making in raising awareness at corporations about the importance of environmental issues to shareholders, said Conrad MacKerron, senior vice president of As You Sow.
The successful corporate negotiations and increasing support for shareholder resolutions involving environmental issues are indications that more investors will become aware of the need for corporations to work for environmentally friendly operations in the future, MacKerron said.
ExxonMobil has agreed to start reporting on spills of preproduction plastic pellets, known as nurdles, which are used in the production of almost all plastic products. The pellets are a significant source of ocean pollution.
ExxonMobil said it will provide details about where, how and when it monitors for pellet spills, describe pellet management systems it has in place and report on spills that have occurred. It will also describe how the company assesses the effectiveness of pellet-loss prevention measures, As You Sow said. The organization will continue negotiations with the two other major producers of pellets, DowDuPont and Chevron Phillips Chemical, MacKerron said.
“It is important for all industry players to establish similar transparency so stakeholders can get a realistic view of the size and scope of this problem,” he added.
As You Sow also filed a shareholder resolution with Starbucks asking the corporation to reinvigorate its efforts to meet goals for packaging reuse and recycling. Last year, the resolution received support from 29 percent of shareholders. This year, the resolution was supported by 44.5 percent of shareholders during a vote in mid-March.
In 2008, Starbucks pledged that by 2015 it would serve 25 percent of beverages in reusable containers like ceramic mugs, but has fallen far short of that goal. The company also agreed to recycle all cups in North American stores by 2015, but now recycles only about 60 percent, As You Sow said.
“The clear message from a near majority of shareholders is that the company’s actions to date weren’t enough, lag competitors’ and do not present a comprehensive sustainable packaging policy,” MacKerron said. “This vote is the largest sign that I have seen that shows plastic pollution is becoming a mainstream issue. It also is a sign that other investors will support these resolutions in the future and want sustainability.”