Amazon, Comcast Face 401(k) Climate Plans Shareholder Votes (1)

Amazon.com Inc. and Comcast Corp. stockholders can vote on proposals to evaluate the companies’ 401(k) plans for environmentally friendly investment options, the Securities and Exchange Commission determined.

In decisions made public Wednesday, the SEC denied appeals from both companies to exclude retirement plan evaluation proposals from their upcoming annual shareholder meeting agendas.

The companies argued that 401(k) investment decisions are day-to-day business operations that securities laws allow companies to handle without shareholder input. But the issue brought before both companies by nonprofit shareholder advocacy group As You Sow “transcends ordinary business matters” usually reserved for management control, regulators said.

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