(Fox News) Coca-Cola shareholders recently voted against a proposal to conduct a survey into how state laws restricting abortion impact the company’s business performance.
“Shareholders request that Coca-Cola’s Board of Directors issue a public report prior to December 31, 2023, omitting confidential information and at a reasonable expense, detailing any known and potential risks or costs to the company caused by enacted or proposed state policies severely restricting reproductive rights, and detailing any strategies beyond litigation and legal compliance that the company may deploy to minimize or mitigate these risks,” the proposal stated.
The proposal was introduced by As You Saw, a nonprofit that promotes ESG policies in corporations. Eighty-seven percent of controlling shares voted against the measure.
A lighted sign adorns the Coca-Cola Store in Las Vegas on Feb. 4, 2021. (AP Photo/John Locher)
The proposal by As You Saw cited research that showed women who do not have access to abortion are more likely to drop out of the workforce. In a proxy statement, Coca-Cola said its “robust risk management processes” are adequate to address these concerns. The company argued further research into the matter is not needed.
The activist group’s statement included a suggestion that the board of directors, at its discretion, may elect to cease operations in states where abortion restrictions are in place.
“In its discretion, the board’s analysis may include effects on employee hiring, retention, and productivity, and decisions regarding closure or expansion of operations in states proposing or enacting restrictive laws and strategies, such as public policy advocacy by the company, related political contribution policies, and human resources or educational strategies.”
The activist group’s statement included a suggestion that the board of directors may elect to cease operations in states where abortion restrictions are in place. (Reuters)
Many companies have increasingly come under public scrutiny for their political biases in support of left-wing social causes. The most prominent example this past year has been Disney’s feud with Florida Gov. Ron DeSantis, who signed legislation revoking the conglomerate’s special tax privileges after the company criticized him for signing legislation that banned the teaching of LGBTQ theory to elementary school students.
