After the successful outcome of our engagement with both PepsiCo and Coca-Cola this proxy season, Sustainable Finance of Bloomberg Briefs took note of our unrelenting demand for sustainability oversight as a fiduciary duty.
By Justin Morton
Persistence paid off for Harrington Investments, a manager of about $200 million that helped PepsiCo Inc. change its mind and form a sustainability committee on its board of directors.
Harrington introduced a shareholder resolution at PepsiCo’s last two annual meetings calling for the establishment of such a committee, and was ready to renew the resolution for this year’s meeting, when PepsiCo decided earlier this month to create a sustainability committee to assist the company’s board with overseeing its sustainability policies, programs and risks. read more…