Amazon investor proposal to review plastic use narrowly fails to clear

Amazon.com Inc's investor-led proposal to review its use of plastic won 49 per cent support even as shareholders voted down all the 15 resolutions at the e-commerce giant's annual general meeting, a regulatory filing showed on Friday.

It was the only proposal that came close to reaching the 51% mark for approval. Investors opposed resolutions that challenged the company's policies on various issues, including the treatment of workers and use of non-disclosure agreements.

To be sure, about 13% of the company's voting stock is controlled by Founder and Executive Chairman Jeff Bezos, raising the bar for any effort to win a majority of investor support.

Also read | Twitteratis can't keep calm as Amazon sells plastic bucket for $335

The proposal for a report on whether Amazon cloud, surveillance and other capabilities contribute to human rights violation won 40% support. But an overwhelming 87 per cent voted down a proposal calling Amazon to review worker safety.

Only 39 per cent of votes were in favor of a resolution related to unionisation of workers, but 47 per cent backed a report on whether Amazon's lobbying activities were consistent with the best interest of the shareholders.

Also read | Scientists discover new enzyme that can chomp off plastic in record 16 hours

A move to review Amazon's facial recognition technology got 41 per cent votes in favor, while a report for more details on gender and racial pay managed to get support from just 29% of the shareholders.

The resolutions are non-binding, but companies often take some form of action if they receive backing of 30 to 40 per cent of votes cast.

WATCH WION LIVE HERE

You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.