P&G faces shareholder rebellion over deforestation debate

Tulipshare campaign

Shareholders have called on Procter & Gamble to appoint an independent chair, following the firm’s decision to ignore a proposal to curb deforestation.

In 2020, a shareholder proposal demanding P&G evaluate how it can eliminate deforestation and primary forest degradation from its supply chains won 67% of the vote. However, Tulipshare, who led the campaign for the proposal, have since claimed that "no progress has been made by the company since". Top investors only voting for ESG proposals 7.5% of the time Concerns have emerged surrounding board suitability over the issue, with a new campaign calling for an independent chair to deliver on deforestation targets. Tulipshare highlighted that P&G are currently targeting primary...