Institution Theme Category Industry
  • Vanguard
  • Environmental
  • Climate
  • Food Product
Company Year Market Link
Sanderson Farms 2020 N/A https://about.vanguard.com/investment-stewardship/perspectives-and-commentary/2020_investment_stewardship_annual_report.pdf

We met with leaders of Sanderson Farms, a U.S. poultry producer, to discuss a shareholder proposal asking that the board provide a report on water resource risks in line with the reporting framework set out by the Sustainability Accounting Standards Board (SASB)….Although we were encouraged to hear the company’s verbal intent to incorporate SASB standards into its reporting, we were concerned by its hesitance to commit to doing so publicly. Vanguard understands that companies are at different points in reporting on their sustainability practices, but we look for improved disclosure as disclosure practices mature. We stressed with company leaders that absent a public commitment to improve their disclosure, our funds were likely to support the shareholder proposal. After several discussions with company leaders, Sanderson Farms agreed to publicly announce its intention to integrate SASB reporting standards into its sustainability disclosures by the end of its fiscal year. Given management’s commitment to align the company’s reporting with the SASB framework, the funds did not support the shareholder proposal. We will continue to engage with the company and monitor its progress as it moves forward on sustainability reporting.

Details

  • Proponent
  • Shareholder
  • Resolution
  • Water Resource Risk Disclosure
  • Vote
  • AGAINST
  • Rationale
  • N/A
  • Details
  • N/A