2026 CWC Proxy Voting Tracker: Labour-Rights Related Proposals, Exclusions and Events

A shareholder proposal filed by Myra Young, represented by As You Sow, requests that Berkshire Hathaway publish a report that discloses the Board’s oversight framework for workforce and human capital management across its operating subsidiaries. The proposal highlights that Berkshire’s highly decentralized structure may lead to inconsistent approaches to managing workforce risks, citing concerns raised at subsidiaries regarding safety and training. Proponents argue that greater transparency on how the Board oversees human capital would strengthen investor confidence, improve risk management, and support long-term value creation.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal requesting Berkshire Hathaway to publish a report disclosing the Board’s oversight framework for workforce and human-capital management across its operating subsidiaries (Item 4. Shareholder proposal, page 14).

Berkshire Hathaway Inc.’s 2026 Proxy Statement is available here. For more information on the rationale behind the proposal, please consult this document.

As You Sow, on behalf of Amalgamated Bank, filed a shareholder proposal that requests SkyWest’s Board to commission an independent third party to prepare a report assessing whether the company’s policies and practices align with the rights to freedom of association and collective bargaining reflected in the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work.

The proposal is driven by allegations related to union interference. The Association of Flight Attendants-CWA has filed a federal lawsuit alleging that SkyWest funds an internal employee association, the SkyWest Inflight Association (SIA),” intended to replace independent unionization. Furthermore, it is alleged that the company has retaliated against employees seeking representation, with related cases currently moving through the legal system. Proponents argue that an independent assessment would provide investors with greater confidence that the company is appropriately managing its relationship to labour.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal requesting SkyWest’s Board to provide a report on freedom of association and collective bargaining (Proposal 4, page 68).

SkyWest’s 2026 Proxy Statement is available here.

Mercy Investment Services filed a shareholder proposal requesting that PepsiCo, Inc. issue a report assessing the effectiveness of its human rights policies and practices. The proposal argues that the company’s supply chains expose it to material human rights risks, including forced labour and poor working conditions.

Reports have documented labour rights abuses in India, including violations affecting sugarcane workers in the company’s supply chain. Additional cases have been reported in Malaysia and Latin America, including subminimum wages, unpaid overtime, and inadequate worker protections in palm oil operations. Despite its policy commitments, PepsiCo has not provided investors with sufficient evidence of oversight or remediation across high-risk suppliers and regions.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal requesting that PepsiCo’s Board of Directors issue a report assessing the company’s effectiveness in upholding its human rights standards across its direct, franchise, and value chain relationships (Proxy Item No. 5, page 91).

PepsiCo’s 2026 Proxy Statement is available here.

SOC Investment Group, along with other investors, urge shareholders to vote AGAINST the re-election of Jonathan Rubinstein, Jamie Gorelick, and Andrew Ng, members of the Amazon.com Inc. Nominations and Corporate Governance Committee (Nom and Gov Committee), and Patricia Stonesifer, a former member of the committee, for their decision this year to unilaterally exclude shareholder proposals filed at the company.

SOC argues the Board has failed to meaningfully engage shareholder proponents, respond constructively to votes, or refresh the committee overseeing its governance practices. These written materials are shared pursuant to an exemption provided for in Rule 14a-2(b)(1) promulgated under the Securities Exchange Act of 1934.

SOC explains that responsibility for Amazon’s decision to omit certain shareholder proposals lies principally with the Nom and Gov Committee, as per its charter. Further, the understanding is that, over the past year, this committee comprised the three longest-tenured independent directors on Amazon’s Board, with Ms. Stonesifer serving since 1997, Mr. Rubinstein since 2010, and Ms. Gorelick since 2012. Ms. Gorelick is also Amazon’s Lead Independent Director.

The CWC invites you to consider a:

• Vote AGAINST the re-election of Jonathan Rubinstein, Jamie Gorelick, and Andrew Ng, members of the Amazon.com Inc. Nominations and Corporate Governance Committee, and Patricia Stonesifer, a former member of the committee (Item 1, page 2).

SOC’s letter to investors is available here. For more information, contact Louis Malizia at SOC Investment Group (lmalizia@socinvestmentgroup.com) or consult the AmazonVoteNo website.

The Interfaith Center on Corporate Responsibility is hosting a webinar on May 12th at 10 am ET to brief investors on key proxy items, including the election of directors.

Amazon.com Inc. Proxy Statement is available here.

A shareholder proposal filed by Mercy Investment Services and the Sisters of St. Joseph of Peace requests that Dollar General Corporation report on the feasibility of adopting a comprehensive Human Rights Policy that states the company’s commitment to respect human rights, in alignment with international human rights standards, throughout its operations and value chain.

Dollar General was named a “Severe Violator” in 2023 by the Occupational Safety and Health Administration (OSHA). In 2025, investors filed a shareholder proposal calling for the adoption of a comprehensive human rights policy. Dollar General adopted a Human Rights Policy before the AGM, but that did not explicitly commit to respecting human rights in operations and required only suppliers to comply with human rights standards. The shareholder proposal received 22% support, indicating that the policy was not meeting investors’ expectations. Human rights violations create reputational, financial, legal, and regulatory risks.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal requesting Dollar General Corporation’s Board of Directors to report on the feasibility of adopting a comprehensive Human Rights Policy.

Dollar General Corporation’s 2026 Proxy Statement is available here.

The CWC would like to highlight three shareholder proposals at Walmart related to labour rights. Walmart’s Proxy Statement is available here. For reference, please consult the ICCR’s 2026 Proxy Resolutions & Voting Guide.

1. Report on Impacts of U.S. Immigration Policy and Enforcement on Operations

A shareholder proposal filed by SOC Investment Group, Daughters of Charity, Province of St. Louise, and Mercy Investment Services requests that Walmart, Inc., report on the impacts of U.S. immigration policy and enforcement on the company’s operations.

Recent U.S. immigration policy changes under the Trump administration may be affecting Walmart Inc.’s operations across its workforce and supply chain. The company is a major participant in the H-1B visa program, and reported increases in visa-related costs in 2025 may have contributed to a pause in some job offers for skilled foreign workers. The cancellation of some humanitarian immigration programs has also led to staff losses in Florida and Texas.

On the supply chain side, policy measures affecting transportation and agriculture could also create operational pressures. Actions by the U.S. Department of Transportation related to commercial driver licensing, as well as labour shortages in agriculture linked to deportations, may disrupt logistics and sourcing. Together, these dynamics could increase costs, constrain operations, and ultimately impact customer experience.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal asking Walmart, Inc. to report on the impacts of U.S. immigration policy and enforcement on the company’s operations.

2. Workforce Implications of the Adoption of AI & Automation

A shareholder proposal filed by United for Respect and the Congregation of St. Joseph (Ohio) asks Walmart to report on the use and implications of adopting artificial intelligence (AI) and automation for its workforce. The company has deployed an ambitious AI strategy, including an $815 billion investment to implement AI tools across its supply chain and storefronts. Walmart uses AI tools to support hiring, scheduling, training, and task prioritization, as well as automation in supply chain operations. The company has a Responsible AI Pledge that commits to the responsible management of this technology.

Studies show that automation in the retail sector can pose risks, including job redesign, deskilling, wage gaps, and unequal access to training. Research also finds that algorithmic systems used for hiring, pay, and performance can introduce bias and reduce transparency if not properly managed. Shareholders lack sufficient insight into how the company handles workforce risks and opportunities related to AI and automation. This is crucial to assess whether Walmart’s AI strategy aligns with its commitments and fosters long-term value creation.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal requesting Walmart, Inc. to prepare a report on the principles by which it seeks to address and measure the social implications on its workforce of the growing adoption of advanced technologies, including AI and automation.

3. Workplace Health and Safety

A shareholder proposal filed by Oxfam America, Adrian Dominican Sisters, CommonSpirit Health, Congregation of Benedictine Sisters (Boerne, Texas), PeaceHealth, and Providence St. Joseph Health requests that Walmart, Inc. report on governance measures adopted to address workplace health and safety in its operations.

According to data, between January 2015 and May 2022, Walmart ranked second among the 23 companies reporting the most severe injuries to the Occupational Safety and Health Administration (OSHA). Reports since 2023 include heat exhaustion, exposure to high levels of carbon monoxide, and accidents in freezers, among others, leading to serious injuries, amputations, and even deaths. The National Council for Occupational Safety and Health named Walmart one of its “dirty dozen” unsafe companies for 2024.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal urging Walmart, Inc.’s Board of Directors to report to shareholders on governance measures the company has implemented since 2020 to more effectively monitor and manage human rights risks related to workplace health and safety.

A shareholder resolution filed by As You Sow requests that Workday, Inc. disclose employee retention rates across key demographic groups (e.g., gender, race, age, disability, veteran status). The proposal argues that despite positioning human capital as central to its business and offering workforce management tools, Workforce does not provide sufficient transparency on its own talent retention. Proponents contend that this information is important for assessing risks, costs, and long-term performance, particularly given the financial and operational impacts of employee turnover and the growing number of peer companies that are already reporting such data.

The CWC invites you to consider a:

• Vote FOR the shareholder proposal requesting Workday, Inc. to disclose its employee retention rates by all categories (e.g., veteran status, age, gender, race, and disability status) the company is required to track under applicable laws.

Workday, Inc.’s 2026 Proxy Statement is not yet available.

1. Impacts of U.S. Immigration Policy and Enforcement on the Company’s Operations.

SOC Investment Group filed a shareholder resolution at Amazon.com to report on the impacts of U.S. immigration policy and enforcement on the company’s operations.

Amazon.com was the largest sponsor of H-1B worker visas in fiscal year 2025, employing over 10,000 H-1B workers. Reported increases in visa-related costs by the Trump administration in 2025 may have significant impacts on the company’s operations and future success. The cancellation of some humanitarian immigration programs in the summer of 2025 has also led to staff losses across Amazon.com facilities, preventing the company from securing key support during high-demand periods such as Prime Day or the holiday season.

Regarding the company’s supply chain, actions by the U.S. Department of Transportation related to commercial driver licensing, as well as labour shortages in agriculture linked to deportations, may disrupt logistics and sourcing. Together, these dynamics might raise costs, limit operations, and ultimately affect customer experience.

Amazon challenged the proposal on ordinary business grounds.

2. Freedom of Association and Collective Bargaining

The Shareholder Association for Research & Education (SHARE) on behalf of the IBVM Foundation of Canada, the Catherine Donnelly Foundation, Alecta, Nordea Investment Management, Folksam, the Illinois State Treasurer’s Office, and Vancity filed a shareholder resolution at Amazon.com requesting the Board of Directors to publish a report evaluating the effectiveness of the company’s policies and practices to respect internationally recognized human rights standards, in accordance with international frameworks.  

A source reports that the company is looking to exclude this shareholder proposal from its 2026 proxy statement, under Rule 14a-8(i)(7), arguing that the company has already taken steps to carry out what the proposal asks for, by providing both narrative and data showing how its policies support internationally recognized human rights standards in its operations and supply chain. The SEC has stated that it will not object if the company excludes the proposal from its proxy materials.  

Amazon.com is looking to exclude six other shareholder proposals on ESG-related issues, including Responsible AI, Diversity, Equity and Inclusion (DEI), and lobbying. The company has not yet published its 2026 proxy statement, so it is still unclear how many shareholder proposals will go to a vote at its AGM this year. 

As You Sow, on behalf of Amalgamated Bank, filed a shareholder proposal requesting Kroger’s Board to issue a report analyzing whether the company’s internal policies on non-interference, freedom of association, and collective bargaining are consistent with the International Labour Organization’s Declaration on Fundamental Principles and Rights at Work and the UN Guiding Principles on Business and Human Rights.

Proponents note that Kroger’s Human Rights Policy commits the company to respect these internationally recognized rights but highlight that the last clear policy update was in 2022 and the most recent progress update dates to fiscal 2021. They also cite allegations that Kroger has refused to recognize unions at several stores in the Richmond and Tidewater areas of Virginia despite majority support from associates. The proposal argues that a review of the stated policies would give investors greater confidence that Kroger is appropriately managing its labour relations.

It was reported that the Kroger Co. issued no-action.

VOTE RESULT: TBC

Proposal 1: Election of directors

SOC Investment Group along with New York State Comptroller Thomas P. DiNapoli, New York City Comptroller Mark Levine on behalf of the New York City Retirement Systems, Merseyside Pension Fund, SHARE, and Trillium ESG Global Equity Mutual Fund urges shareholders to vote AGAINST the re-election of Directors Jørgen Vig Knudstorp and Beth Ford at the 2026 Annual Meeting of Shareholders, citing oversight concerns related to labour relations. According to a letter to shareholders, Starbucks has faced ongoing controversy over its treatment of workers seeking to unionize. Since late 2021, baristas at Starbucks locations across the United States have sought to organize and negotiate a first collective bargaining agreement. To date, the company has not reached its stated objective of concluding a contract with Starbucks Workers United (SBWU).

Mr. Knudstorp served as Chair of the Nominating and Corporate Governance (NCG) Committee from 2019 to 2025 and was also a member of the Environmental, Partner, and Community Impact (EPCI) Committee, which oversaw labour relations. Ms. Ford joined the Board in March 2023, served as Chair of the EPCI Committee, and currently chairs the NCG Committee. During this period, both directors have had oversight responsibilities related to labour relations, board governance, and investor engagement. Investors contend that an AGAINST vote is warranted due to sustained failures in overseeing significant labour relations risks, the Board’s rollback of dedicated labour oversight amid escalating conflict, and the prolonged labour dispute that undermines the company’s turnaround strategy and poses risks to long-term shareholder value.

The CWC invites you to consider a:

• Vote AGAINST the re-election of Directors Jørgen Vig Knudstorp and Beth Ford (Proposal 1, page 10). A shareholder letter is available here. For more information, contact Louis Malizia at SOC Investment Group (lmalizia@socinvestmentgroup.com).

Starbucks Corporation’s 2026 Proxy Statement is available here.

VOTE RESULT: TBC

The SOC Investment Group urges shareholders to vote AGAINST the ratification of the Board of Management members’ actions (Item 3) and the Supervisory Board members’ actions (Item 4) of Mercedes-Benz Group AG at its 2026 AGM, citing alleged violations of workers’ rights to freedom of association and collective bargaining at two U.S. subsidiaries: Mercedes-Benz U.S. International (MBUSI), which operates an assembly plant in Vance, Alabama, and Mercedes-Benz of Manhattan and its dealership in New York City.

In a letter to shareholders, SOC argues that a misalignment between the company’s stated human rights commitments and its practices in the U.S. exposes it to legal, operational, compliance, and reputational risks. They call on Mercedes-Benz to ensure neutrality in union organizing efforts, protect workers from retaliation or intimidation, and engage in good-faith collective bargaining across its operations and subsidiaries.

The CWC invites you to consider a:

• Vote AGAINST agenda Item 3: Resolution on the ratification of Board of Management members’ actions and agenda Item 4: Resolution on the ratification of Supervisory Board members’ actions at the 2026 Annual Meeting of Shareholders on April 16^th, 2026

Mercedes-Benz Group AG’s 2026 convocation and agenda are available here. The SOC Investment Group letter to shareholders is available here.