Shareholder pressure can make a difference. After many years of ignoring the issue, Starbucks has finally decided to shift their business away from single use cups and have committed to reducing store waste by 50% by 2030
This is absolutely because shareholders have pressured Starbucks to behave more sustainably. Last year a proposal to reduce waste was supported by 44% of shareholders, including us at CareSaver. Seeing the writing on the wall for this years’ meeting, Starbucks has announced multiple new initiatives to become way more sustainable. This should result in a reduction of more than six billion single-use cups going to landfill.
We may only be a small shareholder in these big companies but we actively look for ways to work with other shareholders to change corporate behaviour. We will always try to vote, and vote in line with our ethics. We can make change happen.