Over the 2024 proxy season, the Secretariat of the Global Unions’ Committee for Workers’ Capital (CWC) aims to support investors in their stewardship activities, particularly as it relates to adverse impacts to workers and violations of their fundamental labour rights. For this reason, we have compiled a short list each month highlighting key annual general meetings (AGMs) where shareholders will have the opportunity to influence company practices on labour rights issues through proxy voting.
The companies flagged below faced allegations of failure to respect workers’ fundamental rights, such as freedom of association and collective bargaining, which have persisted over multiple years. By bringing this information to the attention of investors, the CWC hopes to provide shareholders with decision-useful information at key moments each month to facilitate their application of the CWC Baseline Expectations for Asset Managers on Fundamental Labour Rights, as well as the practices described in the CWC’s publication, Shared Prosperity: The Investor Case for Freedom of Association and Collective Bargaining.
Key votes being monitored by the CWC network
AGM DATE: Avril 30, 2024
Wells Fargo & Co. (NYSE: WFC)
The CWC invites you to consider to: VOTE FOR a shareholder proposal on commissioning a third-party assessment of Wells Fargo’s respect for freedom of association and collective bargaining rights.
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AGM DATE: Avril 25, 2024
Warrior Met Coal, Inc. (NYSE: HCC)
The CWC invites you to consider to: VOTE FOR a shareholder proposal on commissioning a third-party assessment of Warrior Met Coal’s respect for freedom of association and collective bargaining rights.
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AGM DATE: Mars 14, 2024
Maersk (CPH: MAERSK-B)
The CWC invites you to consider to: VOTE FOR a shareholder proposal on publicly disclosing Maersk’s human rights due diligence process in accordance with the UNGPs.
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AGM DATE: Mars 12, 2024
Maximus, Inc. (NYSE: MMS)
The CWC invites you to consider to: VOTE FOR a shareholder proposal on commissioning a third-party assessment of Maximus’ commitment to freedom of association and collective bargaining rights.
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Key votes withdrawn by the CWC network
AGM DATE: Mars 13, 2024
Starbucks Corporation (NYSE: SBUX)
For your information: The company and the union announced that they were beginning discussions on a “foundational framework” that would help Starbucks reach labor agreements with unionized workers and resolve litigation between the two sides. In light of recent events, the SOC Investment Group has withdrawn its director nominations.
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