P&G Holders Rebuke Board With Vote for Deforestation Report (2)

Procter & Gamble Co.’s shareholders approved a proposal that the maker of Charmin toilet paper publish a report on its efforts to halt deforestation amid pressure from environmentalists.

The vote at the shareholder meeting Tuesday went against a recommendation from P&G’s board of directors that investors reject the measure, which was proposed by Green Century Equity Fund. P&G’s toilet paper and tissue sourcing has come under fire by the Natural Resources Defense Council, an environmental group, and other forestry advocates, which say the company’s production practices contribute to climate change.

“It’s a clear call from investors that P&G ...