Coty Investors Reject Plastic Packaging Reduction Proposal (1)

Coty Inc. shareholders on Thursday rejected a proposal asking the beauty business to produce a report on how it could reduce its use of plastic in product packaging.

The proposal, brought by shareholder activism group As You Sow, also asked Coty to assess reputational, financial, and operational risks of continuing to use substantial amounts of single-use plastic packaging. While Coty has some packaging sustainability goals, As You Sow’s proposal said “none of them focus directly on plastic and its specific risks.”

Coty did not immediately respond to a request for comment. The company did not provide a specific vote percentage ...