DuPont Loses Plastic Pollution Vote With Record 81% Rebellion

May 3, 2021, 7:51 PM

An overwhelming majority of DuPont de Nemours Inc. investors voted in favor of a proposal calling for more transparency on pollution, rebuffing the chemical giant’s management at its annual meeting.

Some 81% of shareholders voted for a report that would disclose how much plastic the company releases into the environment each year and assess the effectiveness of DuPont’s pollution policies, according to a regulatory filing. DuPont’s management had advised investors to reject the proposal.

The level of support was the highest on record for an environmental resolution opposed by management, according to the Sustainable Investments Institute.

“This vote confirms a tidal wave of support by investors to confront a deadly contributor to the global plastic pollution crisis,” said Conrad MacKerron, senior vice president at nonprofit shareholder advocate As You Sow, which filed the proposal.

Investors also voted by an even greater margin, about 84%, in favor of DuPont publishing data about the diversity of its employees through its EEO-1 form. Management also recommended shareholders reject the proposal.

To contact the reporter on this story:
Kevin Crowley in Houston at kcrowley1@bloomberg.net

To contact the editors responsible for this story:
Simon Casey at scasey4@bloomberg.net

Christine Buurma

© 2021 Bloomberg L.P. All rights reserved. Used with permission.

To read more articles log in. To learn more about a subscription click here.