Shareholders Put Squeeze On Charmin, Push P&G To Improve On Deforestation Issues (mediapost.com)
Procter & Gamble shareholders overwhelmingly approved a proposal urging the company to issue a report that increases its efforts to eliminate deforestation, with the implication that more needs to be done. The vote was pegged a major victory for environmentalists concerned about P&G’s policies. Because of the company’s size and stature worldwide, it could send a loud statement to other consumer packaged goods manufacturers that paying attention to environmental issues is becoming a real factor with the public and Wall Street. The shareholder proposal, sponsored by the environmentally sensitive Green Century Equity Fund, passed Tuesday with over two-thirds of investors’ votes -- -and over the recommendation to vote against it from P&G’s board.