Report Climate Lobbying Alignment | Interfaith Center on Corporate Responsibility

<div class=”col-lg-9 content-page left-side”>
<section class=”section-a-single-resolutions resolutions-info top-content”>
<div class=”resolutions-contain”>
<div class=”top-content”>
<h4>Resolution Details</h4>
</div>
<div class=”bottom-content”>
<div class=”row-info”>
<strong>Company:</strong>
<p>Mondelez International, Inc.</p>
</div>
<div class=”row-info”>
<strong>Year:</strong>
<p>2025 </p>
</div>
<div class=”row-info”>
<strong>Issue Area:</strong>
<p>Climate Change, Lobbying & Political Contributions </p>
</div>

<div class=”row-info”>
<strong>Focus Area:</strong>
<p>Climate Lobbying, Lobbying </p>
</div>
<div class=”row-info”>
<strong>Status:</strong>
<p>On Proxy</p>
</div>

</a>
</div>
</div>
</div>
</section>

<section class=”section-b-single-resolutions content-blocks”>
<div class=”top-content editor-block”>
<div class=”content-block”>
<div class=”main-content”>
<h2>Resolution Text</h2>
<p><strong>WHEREAS</strong>: The United Nations Framework Convention on Climate Change asserts that greenhouse gas emissions must decline by 43% from 2019 levels by 2030 and 65% by 2035 to avert the worst impacts of climate change, including more frequent and severe droughts, heatwaves, and rainfall.[1] <#_ftn1>    <br><br> ndelez has laid out the strategic, operational, and reputational risks that climate change impacts may have on its business.[2] <#_ftn2>  In response, the Company has publicly committed to a 2050 net zero emissions target that has been validated by the Science Based Targets Initiative and supports its Vision 2030 growth strategy.[3] <#_ftn3>  Although Mondelez has disclosed efforts to make progress against its sustainability and climate goals, it acknowledges that the Company’s ability to meet such goals are subject to evolving regulatory requirements and to the availability of suppliers that can meet the Company’s standards.[4] <#_ftn4>  However, Mondelez provides insufficient transparency about its lobbying activities, making it challenging for investors to evaluate whether and how the Company’s advocacy efforts are supportive of and consistent with its net zero goal and its three key drivers for reducing carbon emissions. <br> <br>Mondelez has spent approximately $9 million on federal lobbying since 2014.[5] <#_ftn5>  This does not include state lobbying, where Mondelez also lobbies but disclosure is uneven or absent. The Company’s disclosure is limited to a list of broad advocacy areas of focus and a list of memberships in trade associations with annual dues of $50,000 or more. In contrast, Unilever[6] <#_ftn6>  provides a much more informative description of its policy influence activities, including an assessment of alignment of Unilever’s lobbying activities with its positions on climate policy. <br><br>Corporate lobbying that contradicts a company’s own commitments can damage a brand’s value and lead to negative financial consequences.[7] <#_ftn7>  Furthermore, delays in emissions reductions, increases the probability of physical risks to assets, abrupt policy changes, and limited access to capital and insurance.<br><br>Of particular concern is Mondelez’ membership in a trade association that has advocated negatively on multiple forms of climate policy.[8] <#_ftn8>  <br><br> <strong>RESOLVED</strong>: Shareholders of Mondelez request that the Board of Directors prepare a report, updated annually, describing whether and how Mondelez aligns its lobbying and policy influence activities, both direct and indirect (through trade associations and other organizations), with its net zero by 2050 goal.<br><br>Such disclosure, prepared at reasonable cost and excluding proprietary information, could, at management’s discretion, describe the activities and positions analyzed, the criteria used to assess alignment, and external stakeholders consulted, if any.<br><br> <strong>SUPPORTING STATEMENT</strong>: In evaluating the degree of alignment between the Company’s emissions goals and its lobbying, the proponent suggests that the Company assess and disclose its direct and indirect lobbying activities, such as comment submissions, regarding climate provisions of relevant legislation and regulation.<br><br>Mondelez could consider the Global Standard on Responsible Climate Lobbying[9] <#_ftn9>  as a useful resource for implementation.<br><br><br>[1] https://unfccc.int/news/new-un-climate-change-report-shows-national-climate-plans-fall-miles-short-of-what-s-needed <https://unfccc.int/news/new-un-climate-change-report-shows-national-climate-plans-fall-miles-short-of-what-s-needed> <br><br>[2]  https://www.sec.gov/ix?doc=/Archives/edgar/data/1103982/000110398224000019/mdlz-20231231.htm <https://www.sec.gov/ix?doc=/Archives/edgar/data/1103982/000110398224000019/mdlz-20231231.htm> <br><br>[3] https://ir.mondelezinternational.com/news-releases/news-release-details/mondelez-internationals-near-term-2030-targets-and-2050-net-zero <https://ir.mondelezinternational.com/news-releases/news-release-details/mondelez-internationals-near-term-2030-targets-and-2050-net-zero> <br><br>[4]  https://www.sec.gov/ix?doc=/Archives/edgar/data/1103982/000110398224000019/mdlz-20231231.htm <https://www.sec.gov/ix?doc=/Archives/edgar/data/1103982/000110398224000019/mdlz-20231231.htm> <br><br>[5]  https://www.opensecrets.org/orgs/mondelez-international/summary?id=D000067057 <https://www.opensecrets.org/orgs/mondelez-international/summary?id=D000067057> <br><br>[6] https://www.unilever.com/files/unilever-climate-policy-engagement-review.pdf <https://www.unilever.com/files/unilever-climate-policy-engagement-review.pdf> <br><br>[7]  https://www.sustainalytics.com/esg-research/resource/investors-esg-blog/in-whose-best-interest–why-investors-are-demanding-more-transparency-on-companies%27-lobbying-activities <https://www.sustainalytics.com/esg-research/resource/investors-esg-blog/in-whose-best-interest–why-investors-are-demanding-more-transparency-on-companies%27-lobbying-activities> <br><br>[8] https://lobbymap.org/influencer/National-Association-of-Manufacturing-NAM <https://lobbymap.org/influencer/National-Association-of-Manufacturing-NAM> <br><br>[9]  https://climate-lobbying.com/wp-content/uploads/2022/03/2022_global-standard-responsible-climate-lobbying_APPENDIX.pdf <https://climate-lobbying.com/wp-content/uploads/2022/03/2022_global-standard-responsible-climate-lobbying_APPENDIX.pdf></p>

</div>
</div>
</div>
<div class=”middle-content editor-block”>
<div class=”content-block”>
<div class=”main-content”>

</div>
</div>
</div>

</section>
</div>
<aside class=”col-xl-3 right-side”>
<div class=”column-contain”>

<h3>Lead Filer</h3>
<div class=”views-row”>
<div class=”views-field views-field-nothing”><span class=”field-content”> John Chevedden</span></div><div class=”views-field views-field-title views-field-field-shareholder”><span class=”field-content”>Chevedden Corporate Governance</span></div>
</div>

</div>

</div>
</div>

</div>
</div>
</aside&gt