McDonald’s shareholders have rejected a proposal to encourage the firm to move towards phasing out plastic straws, a proposal that was backed by less than 8% of the vote at the company’s annual meeting yestrday.
The issue reveals the willingness of shareholders to think only in the short term and not about the long term impact of plastics on the environment.
Its a similar story wih oil companies where investors have raised their holdings as the oil price has soared in recent months.
It reinforces the point that companies need to take the lead on sustainability- thinking about delivering profits in three, five, ten years and beyond.
That approach is good for the corporates, the shareholders investing our money and the planet that our children’s children will need to live on.
The finance director who is planning the future is critical in all of this.
