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Amazon | PX14A6G: Notice of exempt solicitation

SEC ·  May 2, 2024 18:13

Summary by Moomoo AI

Amazon.com, Inc. is facing a shareholder proposal urging the company to address its plastic packaging use. The proposal, submitted by As You Sow for Amazon's annual meeting on May 22, 2024, calls for the company to report on strategies to make all packaging recyclable, reusable, or compostable, and to set goals for reducing plastic packaging in line with authoritative sources like the Pew Report. Despite Amazon's steps towards reducing plastic use, including disclosing some plastic use data and incorporating recycled content in mailers, the company is criticized for not providing comprehensive data on total plastic use and for lagging behind peers in sustainable packaging commitments. The proposal has gained significant investor support, with 49% backing in 2022 and 32% in 2023. Amazon's...Show More
Amazon.com, Inc. is facing a shareholder proposal urging the company to address its plastic packaging use. The proposal, submitted by As You Sow for Amazon's annual meeting on May 22, 2024, calls for the company to report on strategies to make all packaging recyclable, reusable, or compostable, and to set goals for reducing plastic packaging in line with authoritative sources like the Pew Report. Despite Amazon's steps towards reducing plastic use, including disclosing some plastic use data and incorporating recycled content in mailers, the company is criticized for not providing comprehensive data on total plastic use and for lagging behind peers in sustainable packaging commitments. The proposal has gained significant investor support, with 49% backing in 2022 and 32% in 2023. Amazon's plastic packaging use poses financial, regulatory, and reputational risks, with estimates suggesting that up to 22 million pounds of its plastic waste could end up in waterways. Competitors such as Unilever, Walmart, and Target have set specific reduction goals, with Unilever aiming to cut virgin plastic packaging by half by 2025. The proposal requests Amazon to disclose its full plastic footprint and commit to reduction targets, emphasizing the urgency of addressing the plastic pollution crisis.
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