A coalition of Starbucks investors and New York City (NYC) Comptroller Brad Lander have welcomed the support of a majority of shares for their proposal requesting an independent third-party worker rights assessment. The coalition of investors hold US$238.9 million worth of Starbucks’ shares. Over 52% of investor shares were pledged in support leading up to and during the company’s AGM. The proposal was filed by the NYC Retirement Systems, PIRC on behalf of pension fund clients, SHARE on behalf of The Catherine Donnelly Foundation, and Trillium ESG Global Equity Fund. It specifically requested that the board commission and oversee a third-party assessment of management’s adherence to Starbucks’ commitments to workers’ rights, including freedom of association and collective bargaining. Lander said: “Investors who want to see a thriving, successful and flourishing Starbucks sent a strong message that the company must live up to its own policies and values. The majority support from shareholders for our proposal reflects a growing demand for an honest accounting of the discrepancy between Starbucks’ purported values and management’s anti-union behaviour.”
JUST IN: A majority of #StarbucksShareholders voted YES on our proposal for the board to conduct an independent assessment of management's response to worker organizing.
Shareholders have spoken, the onus is on @Starbucks board to respond.
— Comptroller Brad Lander (@NYCComptroller) March 29, 2023