According to a recent survey conducted by PensionBee, a leading online pension provider, nearly three quarters (74%)1 of respondents – equal to approximately 23.6 million pensions savers2 – expressed their support for the resolution.
The shareholder resolution aimed to compel McDonald's to take the risks associated with antibiotic resistance more seriously and to reduce the use of antibiotics in its meat production. However, despite gaining traction and receiving 15% of the vote, the resolution ultimately did not pass.
McDonald's Corporation stands as the largest purchaser of beef and pork globally, and its extensive use of antibiotics in industrial meat production poses a significant threat to public health. The overuse of antibiotics is suggested to be a contributing factor leading to the emergence of antibiotic-resistant bacteria, jeopardising the effectiveness of these vital drugs in treating infections.
This is not the first time such a resolution has been proposed at McDonald's annual general meeting (AGM). Despite the disappointment of the outcome, there is cause for optimism in the trend of voting. Last year, 17%3 of votes were in favour compared to 15% this year.
Despite the slight negative trajectory in support for this proposal, PensionBee voting data shows that savers increasingly desire sustainable and responsible practices within corporations. They also believe that challenging management is essential for shareholder democracy.
Clare Reilly, Chief Engagement Officer at PensionBee, commented: “The outcome of this shareholder resolution will come as a disappointment for pension savers. Our research suggests overwhelming support from nearly three quarters of pension savers which underscores the urgent need for corporations to take responsibility for their impact on public health and the environment.
“Although the trend of voting from last year shows positive movement, more work is needed - and fast - for these benefits to truly come to fruition.”
|
