THE WHAT? More than 44 percent of shareholders at TJX Companies have requested information from the company on its plans to reduce its chemical footprint, following growing consumer concern regarding the effects of toxic chemicals.
THE DETAILS A shareholder proposal was issued at the company’s AGM, filed by Trillium Asset Management and First Affirmative Financial Network, which requested TJX to issue a report describing ‘if and how it plans to reduce its chemical footprint.’
Susan Baker, Vice President, Trillium Asset Management, LLC, said, “Growing consumer concern around the impacts of toxic chemicals and the rapidly changing landscape of global regulations have created significant risks for companies.”
Supporting statements issued to the personal care and homewares retailer noted that ‘developing a comprehensive chemical policy and increasing the scale, pace and rigor of existing initiatives are important steps to reducing chemical risks.’
THE WHY? According to Baker, “This strong vote sends an important signal to TJX and other consumer facing companies that investors want to understand how companies are reducing unwanted chemicals and moving toward safer alternatives in their products and supply chains.”