​Unilever to give shareholders vote approval for climate change plan

By

Nigel TAYLOR

Published
Dec 14, 2020

In what is claimed to be a first for a major international business, consumer goods giant Unilever is to give shareholders a say in its its climate change action plan.

The Dove soap brand-maker is seeking a “non-binding advisory vote” on the company's “ambitious emissions reduction targets and the plans to achieve them”.
 
The plan will set out the company's climate strategy to reduce emissions within its operations, through its value chain, as well as describe how the company is “managing risks and meeting consumer needs connected with climate change and societal responses to it”.

Unilever, which is a major global player in beauty and personal care, said it believes “the economy-wide shift to net zero emissions will require a greater and deeper level of engagement between companies and their investors” about their climate transition plans.

“In setting out our plan, we hope this increased level of transparency and accountability will strengthen the dialogue with our shareholders and encourage other companies to follow suit”.

In essence, Unilever’s science-based targets include zero emissions from its own operations by 2030 and a 50% reduction in the average footprint of its products by the same year. In June, Unilever also announced a new net zero emissions target from sourcing to point-of-sale by 2039.
 
Alan Jope, Unilever CEO, said: "Climate change is the most pressing issue of our time and we are determined to play a leadership role in accelerating the transition to a zero carbon economy.
 
"We have a wide-ranging and ambitious set of climate commitments -- but we know they are only as good as our delivery against them. That's why we will be sharing more detail with our shareholders who are increasingly wanting to understand more about our strategy and plans”.