P&G shareholders approved the publication of a deforestation report
The proposal makes the company need to publish a report on its efforts to halt deforestation amid pressure from environmentalists.
According to Bloomberg, Procter & Gamble Co.’s shareholders approved a proposal that the maker of Charmin toilet paper publish a report on its efforts to halt deforestation amid pressure from environmentalists.
The vote at the shareholder meeting Tuesday goes against the recommendation from P&G’s board of directors that investors reject the measure, which was proposed by Green Century Equity Fund. P&G’s toilet paper and tissue have become a point of focus for the Natural Resources Defense Council, an environmental group, and other forestry advocates, which say the company is contributing to climate change because of its production practices.
“It’s a clear call from investors that P&G needs to do more to protect forests,” said Shelley Vinyard, who manages the NRDC’s campaign to curb deforestation in Canada.
Prior to the vote, P&G Chief Executive Officer David Taylor defended the company’s practices, saying the company is “a leader not a laggard” on sustainability. He also said the company has to find ways to balance consumer demand for softer, premium tissue with sustainability questions.
