Two recent proposals aimed at adjusting retirement funds to be more mindful of environmental, social and governance (ESG) goals and priorities were widely rejected by shareholders at Campbell’s and Microsoft. The votes signal an uphill climb to bring sustainability into 401(k) accounts, even as employee bases express increasing interest.
As You Sow, a California-based nonprofit that advocates for corporate sustainability, last year submitted official shareholder resolutions to both Campbell’s and Microsoft, asking them to prepare a report assessing how the companies’ retirement funds and investments may be contributing to climate change. The request was made after investors reached out to engage As You Sow.
