The company’s new climate transition action plan was approved by investors representing 68% of the share capital. — Bloomberg
LONDON: Unilever Plc’s move to dial back environmental commitments has drawn protests at the company’s annual meeting, even as shareholders of the maker of Dove soap and Magnum ice cream approved the softer targets.
Demonstrators interrupted the London gathering, singing “Power to the People,” shouting “no to plastic” and demanding a more ambitious commitment from the consumer goods company.
Some other shareholders expressed impatience with the protesters.
The company’s new climate transition action plan was approved by investors representing 68% of the share capital.
It was a clash of Unilever old and new: The company has long framed itself as a corporate trailblazer on environmental, social and governance issues.
Under pressure from frustrated shareholders, new chief executive officer Hein Schumacher has watered down environmental, social and governance commitments.
Unilever has vowed to achieve net-zero status by 2039, ahead of the 2050 target for food companies Nestle SA and Danone SA. — Bloomberg
