Environment | Interfaith Center on Corporate Responsibility

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>Home Depot, Inc.</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Climate Change, Environment, Health </p>
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<strong>Focus Area:</strong>
<p>Biodiversity, Chemicals/Toxins, Deforestation/Commodities Sourcing, GHG Reduction and Targets, Pesticides, PVCs </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p class=”pf0″><strong>RESOLVED</strong>: Shareholders request that Home Depot conduct and publicly disclose a biodiversity impact and dependency assessment, identifying the most significant nature risks and impacts in the value chain and product segments, to inform its strategy to manage nature-related risks, impacts, and dependencies. </p>
<p><strong>WHEREAS</strong>: Nature and biodiversity are systemically important to climate stabilization, public health, human rights, and thriving economies. Regulators, central banks, and investors increasingly recognize the materiality of nature and biodiversity risks,[1] with 730 companies adopting the Taskforce on Nature-Related Financial Disclosures (TNFD) recommendations and the International Sustainability Standards Board beginning the standard-setting process for nature-related disclosures.[2] However, while evidence of the financial effects of nature-related risks for businesses and the economy is extensive,[3] Home Depot has not conducted an assessment of where its business is exposed to nature-related risks, impacts, and dependencies.  </p>
<p>Conducting such an assessment is essential to responsibly managing nature-related issues, preparing for regulation, reducing legal exposure, and managing supply chain risk or disruptions. Retailers that continue to sell products with emerging regulatory risks may face reputational harm and potential liability.</p>
<p>Home Depot is exposed to nature risk in multiple product categories, yet its business is also dependent on natural resources. For example, Home Depot sources timber from the Canadian Boreal forest, but proportionally more wildfires occurred in Canada’s forests where logging took place.[4] Logging also increases vulnerability to pests, flooding, climate disruption, and decreased resilience – all factors that can disrupt availability of raw materials.[5] </p>
<p>Other product categories are also problematic for nature and public health.</p>

Pesticides: Home Depot sells harmful insecticides[6] and glyphosate, a chemical facing restrictions in multiple jurisdictions and linked to extensive litigation. Bayer, the manufacturer of glyphosate-based herbicides has incurred over $17 billion in settlements and judgments.[7]

<p>PFAS (“forever chemicals”): Home Depot sells pots and pans,[8] and other products like sealants, containing PFAS, yet it has no comprehensive disclosure or phase out plans. There is U.S. regulation of PFAS in drinking water,[1] reporting requirements,[2] and many states have passed PFAS bans.[3]</p>

PVC (polyvinyl chloride): used in flooring, piping, and other Home Depot building products, PVC is a known carcinogen posing nature and health risks. PVC production generates dioxins and other persistent organic pollutants; disposal or incineration can release hazardous byproducts and microplastics, contributing to ecosystem degradation and biodiversity loss.[4]
Invasive species: several states including Washington and Virginia, have restricted or banned the sale of invasive species commonly found in Home Depot stores, such as English Ivy.[5]

<p>Home Depot has limited biodiversity initiatives and does not evaluate its exposure to nature risks, impacts, and dependencies. This threatens its ability to responsibly manage these issues. Without a public assessment, the efforts appear arbitrary, and investors cannot determine the extent of Home Depot’s exposure to systemic nature-related risks and the adequacy of its programs. </p>
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<p>[1] https://www.epa.gov/sdwa/and-polyfluoroalkyl-substances-pfas</p>
<p>[2] https://www.epa.gov/assessing-and-managing-chemicals-under-tsca/tsca-section-8a7-reporting-and-recordkeeping </p>
<p>[3] https://www.saferstates.org/resource/state-action-on-pfas/ </p>
<p>[4] https://toxicfreefuture.org/home-depot-ban-pvc/    </p>
<p>[5] See e.g., https://agr.wa.gov/services/rulemaking/wac-16-752-noxious-weeds-041724</p>
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<p>[1] https://www.unepfi.org/industries/banking/navigating-nature-policy/; https://www.ceres.org/download/b3ca7729-ee66-4451-926b-0b6371a49acf; https://www.natureaction100.org/media/2025/10/Nature-Action-100-Status-Report-Oct.-2025.pdf </p>
<p>[2] https://www.ifrs.org/news-and-events/news/2025/11/issb-welcomes-tnfd-support-nature-related-disclosure/ </p>
<p>[3] https://tnfd.global/publication/evidence-financial-effects-of-nature-related-risks/ </p>
<p>[4] https://connectsci.au/wf/article/34/12/WF24175/266074/Exploring-the-determinants-of-the-2023-Quebec</p>
<p>[5] https://www.nrdc.org/sites/default/files/2025-04/Forest_Degradation_in_Canada_R_25-04-A_05.pdf </p>
<p>[6] https://environmentamerica.org/resources/a-snapshot-of-state-actions-to-protect-pollinators/ </p>
<p>[7] https://www.bloomberg.com/graphics/2025-pesticides-us-bayer-roundup/ </p>
<p>[8] See e.g., https://www.homedepot.com/p/KitchenAid-Hard-Anodized-Nonstick-10-Piece-Hard-andozed-Aluminum-Nonstick-Cookware-Set-in-Onyx-84800/319757766 </p>

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<div class=”views-field views-field-nothing”><span class=”field-content”> Mary Beth Gallagher</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Domini Impact Investments LLC</span></div>
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<strong>Company:</strong>
<p>Lululemon Athletica Inc</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Environment </p>
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<strong>Focus Area:</strong>
<p>Pollution </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>WHEREAS:</strong>  Plastic threatens the world’s oceans, wildlife, and human health, representing a growing market and regulatory risk.[1] As plastic pollution reaches crisis levels, investors are concerned about how plastic-related impacts may affect company resilience, cost-structure, and long-term value.[2] </p>
<p>Textiles represent the third-largest market for plastic, consuming roughly 14% of total plastic production.[3] Synthetic plastic fibers represent 63% of global fiber production, equal to 80 million tons, and shed large volumes of microfibers during both manufacturing and consumer use.[4] This results in 500,000 tons of plastic microfibers from textiles entering the world’s oceans annually,[5] making the textile industry one of the largest contributors to global microplastic pollution. </p>
<p>Microfibers are found in every major ocean and freshwater environment including remote polar regions and sea beds, indoor air, tap and bottled water, and foods. Microfibers are even found in human brains.[6] Scientific research links microplastic exposure to cardiovascular disease,[7] cancer, Parkinson’s disease, and dementia.[8] Growing public awareness and mounting scientific evidence have elevated microplastic pollution from an environmental issue to a material business risk, exposing apparel companies to reputational damage, regulatory pressure, and potential litigation.</p>
<p>The European Union’s Zero Pollution Action Plan includes a target to reduce microplastic pollution by 30% by 2030; its forthcoming regulations are expected to require companies to measure, report and mitigate microfiber pollution across their supply chains.[9] </p>
<p>As a global apparel brand, Lululemon has significant exposure to synthetic fibers and microfiber shedding, facing growing risk such as compliance costs, supply-chain disruptions, and potential loss of market access if it is unprepared for regulatory shifts. </p>
<p>Asset managers are increasingly scrutinizing plastic-related risk, particularly risk to brand value, consumer trust, and long-term operational resilience. Reducing microfiber pollution is therefore a risk-mitigation strategy and a value-creation opportunity.</p>
<p>Importantly, viable and cost-effective solutions exist. Research highlights interventions that can materially reduce microfiber pollution including filtration technology in textile mills, material and design innovations that reduce shedding, new testing methodologies, and manufacturing changes.[10]</p>
<p>Meanwhile, competitors are beginning to act. Under Armour has committed that 75% of its fabrics will be low-shed materials by 2030, signaling that leadership on microfiber reduction is becoming a differentiator in the apparel sector.[11] </p>
<p>By setting clear goals to reduce microfiber shedding, Lululemon can mitigate regulatory and reputational risk, strengthen supply-chain readiness, preserve market share, and meet the expectations of consumers and investors who are increasingly attuned to microplastic pollution. Early action would also position the company to benefit from emerging standards rather than reacting to them once compliance deadlines are imposed.</p>
<p><strong>BE IT RESOLVED:</strong> Shareholders request that Lululemon issue a report, at reasonable expense and excluding proprietary information, evaluating whether opportunities to reduce microfiber pollution from its garments will strengthen the Company’s long-term value and mitigate emerging material risk.</p>
<p>[1] https://wwfint.awsassets.panda.org/downloads/wwf_pctsee_report_english.pdf</p>
<p>[2] https://www.unep.org/resources/pollution-solution-global-assessment-marine-litter-and-plastic-pollution </p>
<p>[3] https://www.regulations.gov/document/NOAA-NOS-2022-0061-0002</p>
<p>[4] https://www.regulations.gov/document/NOAA-NOS-2022-0061-0002</p>
<p>[5] https://www.eea.europa.eu/publications/microplastics-from-textiles-towards-a </p>
<p>[6] https://hscnews.unm.edu/news/hsc-newsroom-post-microplastics-human-brains#:~:text=University%20of%20New%20Mexico%20Health,more%20personal%2C%E2%80%9D%20he%20said </p>
<p>[7] https://www.nejm.org/doi/full/10.1056/NEJMoa2309822</p>
<p>[8] https://today.duke.edu/2025/06/microplastics-are-everywhere-heres-what-duke-research-doing-about-health-concerns</p>
<p>[9] https://www.ropesgray.com/en/insights/alerts/2024/02/macro-regulation-of-microplastics </p>
<p>[10] https://www.5gyres.org/microfiberplaybook; https://www.nature.org/en-us/about-us/where-we-work/united-states/california/stories-in-california/microfiber-action-alliance/?vu=microfibers</p>
<p>[11] https://about.underarmour.com/en/stories/2023/12/under-armour-s-breakthrough-fiber-shed-test-method-now-available.html </p>

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<h3>Lead Filer</h3>
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<div class=”views-field views-field-nothing”><span class=”field-content”> Lyndsay Fritz</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Amalgamated Bank</span></div>
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<strong>Company:</strong>
<p>Lowes</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Environment </p>
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<strong>Focus Area:</strong>
<p>Pollution </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>WHEREAS:  </strong>Without immediate and sustained new commitments to make packaging recyclable, reusable, or compostable, and reduce overall plastic use, annual flows of plastics to land, air, and water could more than double to 280 million metric tons per year by 2040. The authoritative study Breaking the Plastic Wave 2025, by Pew Charitable Trusts (“Pew Report”), concludes that half of the annual 130 million metrics tons of plastic pollution consists of packaging.[1]</p>
<p>Improved recycling coupled with reductions in use, materials redesign, and substitution could reduce plastic pollution from packaging by 97% by 2040, according to the Pew Report, with two-thirds of the reduction coming from innovative reuse applications.[2] Many governments and major brands have committed significant cuts in the use of virgin and single-use plastics.[3] </p>
<p>The growing plastic pollution crisis poses increasing risk to Lowe’s. Corporations could face an annual financial risk of approximately $100 billion should governments require them to cover the waste management costs of the packaging they produce, a policy that is increasingly being enacted around the globe.[4] Lowe’s sells many products packaged in polyvinyl chloride (PVC).  Vinyl chloride, a chemical<strong> </strong>used to make PVC plastic, is a known carcinogen associated with liver, brain and lung cancers. PVC is not collected in curbside recycling programs and ends up in trash flows which are often incinerated, forming harmful dioxin emissions. The company has phased out most of the PVC packaging for its own private label products but has not set goals to reduce sales of other branded PVC packaging.</p>
<p>The company has taken initial steps to deal with plastic pollution by committing to making its private brand plastic packaging recyclable, reusable, or compostable by 2030. However, it has many suppliers who have not made such a commitment. Further, it has not disclosed its total plastic packaging footprint or set a goal for overall reduction of plastic packaging. Competitors Walmart and Target have disclosed their plastic usage and set plastics reduction goals. The Company does not state the amount of plastic packaging that is designed for recycling. Walmart states that 80% of its plastic packaging is designed for recycling.[5] Lowe’s is also notably absent from participation in the largest pre-competitive corporate initiative to address plastic pollution, the New Plastics Economy Global Commitment.[6]</p>
<p>Reducing the Company’s overall plastic packaging and disclosing its plastic footprint are necessary steps to combat the plastic pollution crisis. Our Company is overdue to act on this important issue.   </p>
<p><strong>BE IT RESOLVED:  </strong>Shareholders request the Board issue a report, at reasonable expense and excluding proprietary information, describing how the Company could disclose its plastic packaging footprint and set overall plastic packaging reductions goals.</p>
<p>[1] https://www.pew.org/en/research-and-analysis/reports/2025/12/breaking-the-plastic-wave-2025</p>
<p>[2] https://www.pew.org/en/research-and-analysis/reports/2025/12/breaking-the-plastic-wave-2025</p>
<p>[3] https://gc-data.emf.org/; https://www.asyousow.org/press-releases/2021/10/6/walmart-commits-plastic-reduction-goal </p>
<p>[4] https://www.weforum.org/agenda/2020/10/canada-bans-single-use-plastics; https://www.packworld.com/news/sustainability/article/22419036/four-states-enact-packaging-epr-laws; https://environment.ec.europa.eu/topics/plastics/single-use-plastics_en</p>
<p>[5] https://corporate.walmart.com/content/dam/corporate/documents/esgreport/2025/FY2025-Walmart-ESG-Report.pdf</p>
<p>[6] https://www.ellenmacarthurfoundation.org/global-commitment/overview</p>

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<div class=”views-field views-field-nothing”><span class=”field-content”>Mr. Conrad MacKerron</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>As You Sow</span></div>
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<strong>Company:</strong>
<p>United Parcel Service, Inc.</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Environment </p>
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<strong>Focus Area:</strong>
<p>Racial Justice </p>
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<strong>Status:</strong>
<p>Filed</p>
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<p><strong>WHEREAS:  </strong>Environmental injustice is a structural threat that intensifies the impacts of the climate crisis on vulnerable communities. According to Parnassus Investments, companies that fail to manage and reduce their pollution impacts increase exposure to material financial risks, including heightened regulatory scrutiny, potential litigation, operational disruptions, and damage to brand reputation.[1] This is particularly true when company actions create environmental injustice, which amplifies the impacts of the climate crisis on already overburdened communities, reducing their capacity to adapt and recover from climate harm.[2] Investors recognize that unmanaged environmental justice risks can disrupt operations, weaken competitiveness, and erode long-term shareholder value. </p>
<p>According to the Environmental Protection Agency’s (EPA) Enforcement and Compliance History Online (ECHO) database, United Parcel Service Inc (UPS) has incurred hundreds of Resource Conservation and Recovery Act (RCRA) pollution violations over the last five years that disproportionately affected Black, Indigenous, and People of Color communities (BIPOC).[3] As of October 20, 2025, it had accrued 568 RCRA violations in communities with 25% or more people of color; and 378 in communities with 40% or more people of color.[4] These violations range from improper waste disposal and storage to inadequate record keeping and training.  </p>
<p>In October 2022, United Parcel Service (“UPS”) paid a $5.325 million penalty to resolve violations of hazardous waste regulations at 1,160 facilities across forty-five states and the territory of Puerto Rico.[5] In August 2025, UPS was ordered to pay another $1.745 million for unlawful disposal of hazardous and medical waste at 140 of its facilities.[6]</p>
<p>UPS’ most recent 10-K acknowledges the material risk arising from “adverse publicity or public sentiment surrounding labor relations, safety matters, environmental, sustainability and governance concerns” and cites “environmental liability” as having the potential to subject the Company to “various claims and lawsuits that could result in significant expenditures”.[7] An environmental justice audit would assist UPS in mitigating adverse impacts on affected communities while reducing legal liabilities and brand damage. </p>
<p><strong>BE IT RESOLVED: </strong> Shareholders request that UPS, at reasonable cost and omitting proprietary information, disclose an evaluation conducted by an independent third-party of the impacts of its operations affecting BIPOC and low-income communities. </p>
<p>[1] https://parnassus.com/insights/article/investment_case_for_environmental_justice </p>
<p>[2] https://news.climate.columbia.edu/2020/09/22/climate-change-environmental-justice/ </p>
<p>[3] https://echo.epa.gov/</p>
<p>[4] https://echo.epa.gov/</p>
<p>[5] https://www.epa.gov/newsreleases/ups-settles-epa-correct-alleged-hazardous-waste-violations-nationwide</p>
<p>[6] https://rivcoda.org/UPS_violation#:~:text=United%20Parcel%20Service%20(UPS)%20has%20been%20ordered,Corrosive%20materials%20*%20Items%20containing%20Drug%20Facts</p>
<p>[7] https://investors.ups.com/sec-filings/all-sec-filings?form_type=10-K&year=##document-4275-0001090727-25-000019-2 </p>

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<div class=”views-field views-field-nothing”><span class=”field-content”> Myra Young</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Corporate Governance</span></div>
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<strong>Company:</strong>
<p>Hyatt Hotels Corporation</p>
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<strong>Year:</strong>
<p>2026 </p>
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<strong>Issue Area:</strong>
<p>Environment </p>
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<strong>Focus Area:</strong>
<p>Plastics Pollution </p>
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<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>WHEREAS:  </strong>Without immediate and sustained new commitments throughout the plastics value chain, annual flows of plastics into air, land and water will grow more than 120% by 2040 and cause a 75% increase in human health impacts.[1] This growing plastic pollution crisis poses increasing risks to Hyatt. Collectively, corporations could face an annual financial risk of approximately $100 billion should governments require them to cover the waste management costs of the packaging they produce.[2] </p>
<p>Governments are rapidly enacting such policies. One in five Americans are now covered by state laws imposing fees on corporations for single-use plastic packaging.[3] The European Union has banned ten common single-use plastic pollutants and imposed a tax on non-recycled plastic packaging waste.[4] California, New York, Washington, and Illinois ban or limit hotels from disbursing small plastic bathroom amenity bottles,[5] demonstrating a heightened need for the industry to proactively address plastic use. Consumer demand for sustainable packaging is also increasing.[6]</p>
<p>Approximately 20% of corporations in the global plastic packaging market have committed to quantifiable plastic action and transparency.[7] Wyndham, Hilton, Marriott, and Choice have each committed to measure, disclose, and reduce their single-use plastic usage while transitioning to refillable alternatives.[8] Pew Charitable Trusts’ 2025 update to its groundbreaking study, Breaking the Plastic Wave, concluded that return- and refill-based reuse systems for packaging are central to effectively tackling plastic packaging pollution, capable of contributing nearly two-thirds of all necessary reductions in packaging waste generated.[9]</p>
<p>Hyatt, however, lags its competitors and fails to disclose its principal plastics data by any metric, such as total tons of plastic used, units of plastic avoided, or the percentage that is recyclable or recycled. While Hyatt had a goal to transition to large-format bathroom amenity bottles by 2021, it has failed to report any quantifiable progress towards meeting this goal.[10] </p>
<p>Like its peers, our Company will benefit from calculating and reporting the overall amount of single-use plastic and plastic packaging it uses, a critical first step towards evaluating how it could set and achieve an overall plastic packaging reduction goal as its competitors have done. By adopting a comprehensive approach to plastic packaging use, Hyatt can avoid regulatory, environmental, and competitive risks. <br> <br> <strong>BE IT RESOLVED:  </strong>Shareholders request that the Board issue a report, at reasonable expense and excluding proprietary information, analyzing whether Hyatt could disclose its overall plastic use.</p>
<p>[1] https://www.pew.org/en/research-and-analysis/reports/2025/12/breaking-the-plastic-wave-2025 </p>
<p>[2] https://www.pewtrusts.org/-/media/assets/2020/10/breakingtheplasticwave_mainreport.pdf, p.9</p>
<p>[3] https://sustainablepackaging.org/2025/10/21/packaging-policy-news/, https://epr.sustainablepackaging.org/?_gl=1*18is6bj*_ga*NTYzMjE5MTcyLjE3NjI0NTA3NDQ.*_ga_BRZMQBSHS0*czE3NjI0NTA5NDQkbzEkZzAkdDE3NjI0NTA5NDQkajYwJGwwJGgw </p>
<p>[4] https://environment.ec.europa.eu/topics/plastics/single-use-plastics_en </p>
<p>[5] https://www.packworld.com/leaders-new/business-drivers-specialty/sustainability/article/22919567/illinois-bans-small-plastic-hotel-toiletries-like-shampoo </p>
<p>[6] https://www.shorr.com/resources/blog/the-2022-sustainable-packaging-consumer-report/ </p>
<p>[7] https://www.ellenmacarthurfoundation.org/topics/plastics/overview?utm_campaign=2030-plastics-agenda&utm_medium=email&utm_source=emf_public_newsletter&utm_content=FORMAT_TopicWebpage/TOPIC_Plastics&utm_term=AUD_Decisionmakers/SUBAUD_Network&mc_cid=c03b9a7c3d&mc_eid=79ea9016e1</p>
<p>[8] https://www.asyousow.org/press-releases/2025/7/29/wyndham-to-set-plastic-reduction-goal-following-investor-engagement </p>
<p>[9] https://www.pew.org/en/research-and-analysis/reports/2025/12/breaking-the-plastic-wave-2025 </p>
<p>[10] https://newsroom.hyatt.com/single_use_plastic_reduction </p>

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<h4>Resolution Details</h4>
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<div class=”row-info”>
<strong>Company:</strong>
<p>Philip Morris International</p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2026 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Environment </p>
</div>

<div class=”row-info”>
<strong>Focus Area:</strong>
<p>Pollution </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>Filed</p>
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<p><strong>WHEREAS:</strong>  Tobacco is a well-documented threat to human health. Less well known is its contribution to global plastic pollution. Cigarette filters are a form of single-use plastic. </p>
<p>Plastic, with a lifecycle social cost at least ten times its market price, threatens the world’s oceans, wildlife, and public health.[1] Concern about the growing scale and impact of global plastic pollution has elevated the issue to crisis levels.[2] Of particular concern is single-use plastic,[3] which makes up the largest component of the 24-34 million metric tons of plastic ending up in waterways annually.</p>
<p>Cigarette butts with plastic acetate filters are the most littered item globally with an estimated 4.5 trillion discarded annually, which results in an estimated 300,000 tons of plastic microfibers released each year into the environment. Cigarette filters do not biodegrade and can remain in the environment indefinitely in the form of microplastics. Discarded cigarette filters can contain more than 15,000 plastic microfibers and thousands of toxic chemicals. When cigarette filters are littered on streets and beaches, they can leach harmful pollutants into soil and water, including heavy metals and nicotine, which are toxic to fish and other sea creatures.[4]  At concentrations of one cigarette butt per liter of water, testing indicates the toxins are lethal to small fish and planktonic organisms.[5]</p>
<p>Annual cleanup costs for littered filters are significant, including $2.6 billion for China and $766 million for India.[6] Cleanup costs have traditionally been borne by taxpayers rather than the industry placing these problematic products on the market. As a producer of plastic waste, our Company should take more financial responsibility for the cleanup of its cigarette filter/butt waste. The European Union’s Single-Use Plastics Directive imposes Extended Producer Responsibility (EPR) on tobacco producers to cover the costs of collecting and processing cigarette filters; Denmark, France, and Spain have already imposed cleanup fees.[7] </p>
<p>More than 100 companies support EPR laws requiring them to finance the collection of waste packaging to keep plastics from becoming uncontrolled waste.[8] U.S. EPR tobacco laws to cover the costs of collecting and treating butt filters would address the pollution problem and create a level playing field for cigarette manufacturers. In the interim, Philip Morris International should voluntarily contribute funding to U.S. state or municipal governments to finance existing filter collection and cleanup efforts where they are not adequately funded.</p>
<p><strong>BE IT RESOLVED: </strong> Shareholders request that Philip Morris issue a public report, at reasonable expense and excluding proprietary information, assessing the reputational, financial, and operational risks associated with failing to take responsibility for filter cleanup costs and the benefits to the Company of promoting extended producer responsibility laws for spent tobacco filters.</p>
<p>[1] https://wwfint.awsassets.panda.org/downloads/wwf_pctsee_report_english.pdf </p>
<p>[2] https://www.unep.org/resources/pollution-solution-global-assessment-marine-litter-and-plastic-pollution </p>
<p>[3] https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:32019L0904&from=EN#page=8 </p>
<p>[4] https://fingfx.thomsonreuters.com/gfx/legaldocs/gdpzqykgevw/Cigarette%20Litter%20Complaint%20filed%20copy.pdf;  https://www.who.int/publications/i/item/9789240051287; https://oceanconservancy.org/wp-content/uploads/2023/06/ICCCharter-REDUCE-Report-2023-TFSOceanConservancy.pdf</p>
<p>[5] https://pmc.ncbi.nlm.nih.gov/articles/PMC3088407</p>
<p>[6] https://www.who.int/publications/i/item/9789240051287 </p>
<p>[7] https://www.europarl.europa.eu/doceo/document/E-9-2023-000787_EN.html#:~:text=The%20Single%2DUse%20Plastics%20Directive,incentivising%20consumers%20about%20responsible%20behaviour</p>
<p>[8] https://www.ellenmacarthurfoundation.org/news/100-leading-businesses-call-for-epr-for-packaging</p>

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<h4>Resolution Details</h4>
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<div class=”row-info”>
<strong>Company:</strong>
<p>Gap, Inc. (The)</p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2026 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Environment </p>
</div>

<div class=”row-info”>
<strong>Focus Area:</strong>
<p>Plastics Pollution </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>Filed</p>
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<p><strong>WHEREAS:</strong>  Plastic threatens the world’s oceans, wildlife, and human health, representing a growing market and regulatory risk.[1] As plastic pollution reaches crisis levels, investors are concerned about how plastic-related impacts may affect company resilience, cost-structure, and long-term value.[2] </p>
<p>Textiles represent the third-largest market for plastic, consuming roughly 14% of total plastic production.[3] Synthetic plastic fibers represent 63% of global fiber production, equal to 80 million tons, and shed large volumes of microfibers during both manufacturing and consumer use.[4] This results in 500,000 tons of plastic microfibers from textiles entering the world’s oceans annually,[5]making the textile industry one of the largest contributors to global microplastic pollution. </p>
<p>Microfibers are found in every major ocean and freshwater environment; remote polar regions and  seabeds; indoor air; tap and bottled water, and foods. Microfibers are even found in human brains.[6] Scientific research links microplastic exposure to cardiovascular disease,[7] cancer, Parkinson’s disease, and dementia.[8] Growing public awareness and mounting scientific evidence have elevated microplastic pollution from an environmental issue to a material business risk, exposing apparel companies to reputational damage, regulatory pressure, and potential litigation.</p>
<p>The European Union’s Zero Pollution Action Plan includes a target to reduce microplastic pollution by 30% by 2030; and forthcoming regulations are expected to require companies to measure, report and mitigate microfiber pollution across their supply chains.[9] As a global apparel brand with significant exposure to synthetic fibers, Gap faces rising transition risks, including compliance costs, supply-chain disruptions, and potential loss of market access if it is unprepared for regulatory shifts. </p>
<p>Asset managers are increasingly scrutinizing plastic-related risks, particularly given their implications for brand value, consumer trust, and long-term operational resilience. Reducing microfiber pollution is therefore both a risk-mitigation strategy and a value-creation opportunity.</p>
<p>Importantly, viable and cost-effective solutions exist. Research highlights interventions that can materially reduce microfiber pollution including filtration technology in textile mills, material and design innovations that reduce shedding, new testing methodologies, and manufacturing changes.[10]</p>
<p>Meanwhile, competitors are beginning to act. Under Armour has committed that 75% of its fabrics will be low-shed materials by 2030, signaling that leadership on microfiber reduction is becoming a differentiator in the apparel sector.[11] </p>
<p>By setting clear goals to reduce microfiber shedding, Gap can mitigate regulatory and reputational risks, strengthen supply-chain readiness, preserve market share, and meet the expectations of consumers and investors increasingly attuned to microplastic pollution. Early action would also position the Company to benefit from emerging standards rather than reacting to them once compliance deadlines are imposed.</p>
<p><strong>BE IT RESOLVED:</strong>  Shareholders request that Gap Inc. issue a report, at reasonable expense and excluding proprietary information, evaluating whether opportunities to reduce microfiber pollution from its garments will strengthen long-term value and mitigate emerging material risks.</p>
<p>[1] https://wwfint.awsassets.panda.org/downloads/wwf_pctsee_report_english.pdf</p>
<p>[2] https://www.unep.org/resources/pollution-solution-global-assessment-marine-litter-and-plastic-pollution </p>
<p>[3] https://www.regulations.gov/document/NOAA-NOS-2022-0061-0002</p>
<p>[4] https://www.regulations.gov/document/NOAA-NOS-2022-0061-0002</p>
<p>[5] https://www.eea.europa.eu/publications/microplastics-from-textiles-towards-a </p>
<p>[6] https://hscnews.unm.edu/news/hsc-newsroom-post-microplastics-human-brains#:~:text=University%20of%20New%20Mexico%20Health,more%20personal%2C%E2%80%9D%20he%20said </p>
<p>[7] https://www.nejm.org/doi/full/10.1056/NEJMoa2309822</p>
<p>[8] https://today.duke.edu/2025/06/microplastics-are-everywhere-heres-what-duke-research-doing-about-health-concerns</p>
<p>[9] https://www.ropesgray.com/en/insights/alerts/2024/02/macro-regulation-of-microplastics </p>
<p>[10] https://www.5gyres.org/microfiberplaybook; https://www.nature.org/en-us/about-us/where-we-work/united-states/california/stories-in-california/microfiber-action-alliance/?vu=microfibers</p>
<p>[11] https://about.underarmour.com/en/stories/2023/12/under-armour-s-breakthrough-fiber-shed-test-method-now-available.html </p>

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<div class=”top-content”>
<h4>Resolution Details</h4>
</div>
<div class=”bottom-content”>
<div class=”row-info”>
<strong>Company:</strong>
<p>Target Corp.</p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2026 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Environment </p>
</div>

<div class=”row-info”>
<strong>Focus Area:</strong>
<p>Plastics Pollution </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>Filed</p>
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<h2>Resolution Text</h2>
<p><strong>WHEREAS:</strong>  Plastic threatens the world’s oceans, wildlife, and human health, representing a growing market and regulatory risk.[1] As plastic pollution reaches crisis levels, investors are concerned about how plastic-related impacts may affect company resilience, cost-structure, and long-term value.[2] </p>
<p>Textiles represent the third-largest market for plastic, consuming roughly 14% of total plastic production.[3] Synthetic plastic fibers represent 63% of global fiber production, equal to 80 million tons, and shed large volumes of microfibers during both manufacturing and consumer use.[4] This results in 500,000 tons of plastic microfibers from textiles entering the world’s oceans annually,[5]making the textile industry one of the largest contributors to global microplastic pollution. </p>
<p>Microfibers are found in every major ocean and freshwater environment; remote polar regions and seabeds, indoor air, tap and bottled water, and foods. Microfibers are even found in human brains.[6] Scientific research links microplastic exposure to cardiovascular disease,[7] cancer, Parkinson’s disease, and dementia.[8] Growing public awareness and mounting scientific evidence have elevated microplastic pollution from an environmental issue to a material business risk, exposing apparel companies to reputational damage, regulatory pressure, and potential litigation.</p>
<p>The European Union’s Zero Pollution Action Plan includes a target to reduce microplastic pollution by 30% by 2030; its forthcoming regulations are expected to require companies to measure, report and mitigate microfiber pollution across their supply chains.[9] As a major retailer selling substantial amounts of apparel, Target Corp. has significant exposure to synthetic fibers and faces rising transition risk, including compliance costs, supply-chain disruptions, and potential loss of market access if it is unprepared for coming regulatory shifts. </p>
<p>Asset managers are increasingly scrutinizing plastic-related risks, particularly given their implications for brand value, consumer trust, and long-term operational resilience. Reducing microfiber pollution is therefore both a risk-mitigation strategy and a value-creation opportunity.</p>
<p>Importantly, viable and cost-effective solutions exist. Research highlights interventions that can materially reduce microfiber pollution including filtration technology in textile mills, material and design innovations that reduce shedding, new testing methodologies, and manufacturing changes.[10]</p>
<p>Meanwhile, competitors are beginning to act. Under Armour has committed that 75% of its fabrics will be low-shed materials by 2030, signaling that leadership on microfiber reduction is becoming a differentiator in the apparel sector.[11] </p>
<p>By setting clear goals to reduce microfiber shedding, Target Corp. can mitigate regulatory and reputational risk, strengthen supply-chain readiness, preserve market share, and meet the expectations of consumers and investors increasingly attuned to microplastic pollution. Early action would also position the company to benefit from emerging standards rather than reacting to them once compliance deadlines are imposed.</p>
<p><strong>BE IT RESOLVED:</strong>  Shareholders request that Target Corp. issue a report, at reasonable expense and excluding proprietary information, evaluating whether opportunities to reduce microfiber pollution from its garments will strengthen long-term value and mitigate emerging material risks.</p>
<p>[1] https://wwfint.awsassets.panda.org/downloads/wwf_pctsee_report_english.pdf</p>
<p>[2] https://www.unep.org/resources/pollution-solution-global-assessment-marine-litter-and-plastic-pollution </p>
<p>[3] https://www.regulations.gov/document/NOAA-NOS-2022-0061-0002</p>
<p>[4] https://www.regulations.gov/document/NOAA-NOS-2022-0061-0002</p>
<p>[5] https://www.eea.europa.eu/publications/microplastics-from-textiles-towards-a </p>
<p>[6] https://hscnews.unm.edu/news/hsc-newsroom-post-microplastics-human-brains </p>
<p>[7] https://www.nejm.org/doi/full/10.1056/NEJMoa2309822</p>
<p>[8] https://today.duke.edu/2025/06/microplastics-are-everywhere-heres-what-duke-research-doing-about-health-concerns</p>
<p>[9] https://www.ropesgray.com/en/insights/alerts/2024/02/macro-regulation-of-microplastics </p>
<p>[10] https://www.5gyres.org/microfiberplaybook; https://www.nature.org/en-us/about-us/where-we-work/united-states/california/stories-in-california/microfiber-action-alliance/?vu=microfibers</p>
<p>[11] https://about.underarmour.com/en/stories/2023/12/under-armour-s-breakthrough-fiber-shed-test-method-now-available.html </p>

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<h4>Resolution Details</h4>
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<strong>Company:</strong>
<p>Procter & Gamble Company</p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2026 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Environment </p>
</div>

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<strong>Focus Area:</strong>
<p>Plastics Pollution </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>Vote</p>
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<p><strong>WHEREAS: </strong>Without immediate and sustained new commitments throughout the plastics value chain, annual flows of plastics into oceans could nearly triple by 2040.[1] The growing plastic pollution crisis poses increasing risks to Procter & Gamble. Corporations could face an annual financial risk of approximately $100 billion should governments require them to cover the waste management costs of packaging they produce.[2] Governments around the world are increasingly enacting such policies, including five new state laws that impose fees on corporations for single-use plastic (SUP) packaging.[3] The European Union has banned ten SUP pollutants and taxed some non-recycled plastic packaging.[4] A French law requires 10% of packaging be reusable by 2027 and Portugal requires 30% reusable packaging by 2030.[5] Additionally, consumer demand for sustainable packaging is increasing.[6]</p>
<p> Pew Charitable Trusts’ groundbreaking study, Breaking the Plastic Wave (“Pew Report”), concluded that improved recycling alone is insufficient to address plastic pollution—instead, recycling must be coupled with reductions in use, materials redesign, and substitution.[7] The Pew Report finds that the greatest opportunity to reduce or eliminate plastic lies with flexible plastic packaging—thin, disposable plastic often used to package food, laundry, and beauty and home care products. This packaging is virtually unrecyclable in America. With innovation, redesign, and substitution, 26 million metric tons of flexibles can be avoided globally.[8] </p>
<p> The Pew Report finds that reducing plastic use is the most viable solution from environmental, economic, and social perspectives, yet broad corporate and stakeholder alignment on flexible packaging solutions is lacking.[9]</p>
<p> Despite its stated commitments to sustainable packaging, approximately 19% of P&G’s packaging remains in flexible packaging.[10]  In the absence of immediate action to eliminate flexibles by robustly engaging in research and expansion of reusable packaging, P&G will fail to meet its 2030 packaging goals. P&G lags in its goal to reduce virgin plastic by 50% by 2030, with total corporate virgin plastic use increasing 3% in 2020-2021.[11]</p>
<p> Our Company could avoid regulatory, environmental, and competitive risks by adopting a comprehensive approach to addressing flexible plastic packaging use at scale.<br> <br> <strong>BE IT RESOLVED: </strong> Shareholders request that the Board issue a report, at reasonable expense and excluding proprietary information, describing how P&G could address flexible plastic packaging in alignment with the findings of the Pew Report, or other authoritative sources, to reduce its contribution to plastic pollution. </p>
<p> <strong>SUPPORTING STATEMENT: </strong>The report should, at Board discretion:</p>

Assess the reputational, financial, and operational risks associated with continuing to use non-recyclable plastic packaging while plastic pollution grows;
Evaluate feasible actions to achieve fully recyclable packaging including elimination and accelerated research into innovative reusable substitution; and
Describe opportunities to pre-competitively work with peers to research and develop reusable packaging as an alternative to single-use packaging.

<p> </p>
<p>[1] https://www.pewtrusts.org/-/media/assets/2020/10/breakingtheplasticwave_mainreport.pdf </p>
<p>[2] https://www.pewtrusts.org/-/media/assets/2020/10/breakingtheplasticwave_mainreport.pdf </p>
<p>[3] https://www.packworld.com/sustainable-packaging/recycling/article/22922253/ameripen-shares-key-lessons-from-early-epr-adopters</p>
<p>[4] https://environment.ec.europa.eu/topics/plastics/single-use-plastics_en</p>
<p>[5] https://www.greenpeace.org/international/story/51843/plastics-reuse-and-refill-laws</p>
<p>[6] https://www.shorr.com/resources/blog/the-2022-sustainable-packaging-consumer-report/</p>
<p>[7] https://www.pewtrusts.org/-/media/assets/2020/10/breakingtheplasticwave_mainreport.pdf</p>
<p>[8] https://www.pewtrusts.org/-/media/assets/2020/10/breakingtheplasticwave_mainreport.pdf</p>
<p>[9] https://www.pewtrusts.org/-/media/assets/2020/10/breakingtheplasticwave_mainreport.pdf </p>
<p>[10] https://files.worldwildlife.org/wwfcmsprod/files/Publication/file/4urk9obdqa_WWF_Transparent_2023_FINAL_12.08.23.pdf, p. 73</p>
<p>[11] https://assets.ctfassets.net/oggad6svuzkv/49MSwZIiScoxidwMWcKkaM/ff284053a91ef014ac1b7faed71fd3b1/Ambition2030.pdf</p>

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<h4>Resolution Details</h4>
</div>
<div class=”bottom-content”>
<div class=”row-info”>
<strong>Company:</strong>
<p>Newmont Mining Corporation</p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2026 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Climate Change, Environment </p>
</div>

<div class=”row-info”>
<strong>Focus Area:</strong>
<p>Environmental Justice </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>Filed</p>
</div>

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<h2>Resolution Text</h2>
<p><strong>WHEREAS:</strong>  According to Parnassus Investments, companies that fail to manage and reduce their pollution impacts increase exposure to material financial risks, including heightened regulatory scrutiny, potential litigation, operational disruptions, and damage to brand reputation.[1] This is particularly true when company actions create environmental injustice, which amplifies the impacts of the climate crisis on already overburdened communities, reducing their capacity to adapt and recover from climate harm.[2]  Investors recognize that unmanaged environmental justice risks can disrupt operations, weaken competitiveness, and erode long-term shareholder value.  </p>
<p>Newmont operates in the pollution heavy materials sector, with international mining operations across the globe.[3] Newmont Corporation’s global portfolio includes projects, such as Yanacocha in Peru, Akyem in Ghana, and the former Buyat Bay operation in Indonesia, each of which are documented as having significant impacts on surrounding communities, including land displacement, environmental harms, and disputes over water contamination.[4] Similarly, the Company’s operations at the Cripple Creek & Victor Gold Mine in Colorado have raised concerns about the permissible level of air pollution in surrounding communities.[5] </p>
<p>Such incidents which undermine community trust and create tangible social and environmental risks can translate into material operational, financial, and reputational risks for the Company. Community opposition, legal challenges, regulatory scrutiny, and reduced license to operate can disrupt production and increase costs and long-term operating stability. </p>
<p>Newmont’s 2020 global Sustainability and Stakeholder Engagement Policy acknowledges the need to “build trust with communities through transparent and respectful stakeholder engagement and as responsible stewards of the environment in accordance with the principles of sustainable development”.[6] However, the Company has not conducted environmental justice assessments or audits regarding the scope and impact of any of their operations or disclosed such information. Conducting environmental justice audits would assist Newmont in mitigating adverse impacts on affected communities while reducing legal liabilities and brand damage.</p>
<p><strong>BE IT RESOLVED:  </strong>Shareholders request that Newmont, at reasonable cost and omitting proprietary information, disclose an evaluation conducted by an independent third-party of the impacts of its operations on communities adjacent to mining operations wholly owned by the Company. </p>
<p>[1] https://www.parnassus.com/updates/article/investment_case_for_environmental_justice</p>
<p>[2] https://news.climate.columbia.edu/2020/09/22/climate-change-environmental-justice/</p>
<p>[3] https://operations.newmont.com </p>
<p>[4] https://www.ghanaenvironment.com/calls-for-newmont-to-fix-deplorable-roads-deepens-as-traditional-leaders-raises-concerns/; https://earthworks.org/blog/peruvian-communities-challenge-newmont-mining-operations-as-investors-meet/; https://earthworks.org/blog/buyat_bay_and_ratatatok  </p>
<p>[5] https://peer.org/gold-mine-expansion-ok-shows-broken-air-permit-process/ </p>
<p>[6] https://s24.q4cdn.com/382246808/files/doc_downloads/2020/11/Sustainability-and-Stakeholder-Engagement-Policy.pdf </p>

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<div class=”views-field views-field-nothing”><span class=”field-content”> Olivia Knight</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>As You Sow</span></div>
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Biodiversity Impact Assessment