(Headline USA) Coca-Cola shareholders voted down a leftist proposal this week that would have required the company to investigate how state laws restricting abortion impact business performance.
The proposal was introduced by a radical activist group called As You Sow, which promotes ESG — environmental, social corporate governance standards — in corporations.
It stated: “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.”
As You Sow even went so far as to suggest in a statement that Coca-Cola’s board of directors should stop operation in states that choose to restrict abortion, The Spectator reported.
“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 group said in a statement.
Eighty-seven percent of controlling shares voted against the proposal, according to reports.
Coca-Cola’s Board of Directors also came out against the proposal in a proxy statement, saying it had “carefully considered this shareowner proposal and recommends that shareowners vote AGAINST it.”
The vote comes as other companies face significant backlash for pushing woke policies. Disney, for example, risks losing its self-government privileges after pushing a LGBT grooming agenda in children’s material.
And Bud Light’s sales have continued to drop significantly over the past couple weeks after the company partnered with transgender influencer Dylan Mulvaney for a brand deal. One report estimates Bud Light’s sales dropped by 26% during the third week of April.