ktlight
30th April 2011, 13:11
Coca-Cola is facing mounting pressure on bisphenol A (BPA) after 26 per cent of its shareholders called on the company to reveal its plans over the continued use of the chemical in its packaging.
But the beverage giant’s chief rejected the call made at the company’s annual general meeting yesterday - despite the fact that the motion received 20 per cent more support than when it was first proposed last year.
Muhtar Kent, CEO and chairman told shareholders the company did not believe there was sufficient scientific evidence to stop using BPA in the epoxy linings of its cans.
He added Coke had provided as much information as it could without divulging proprietary competitive data.
Financial risk?
The resolution, put forward by a trio of shareholder advocacy groups, called on Coca-Cola chiefs to: “issue a report to their investors disclosing how it is responding to public concerns about the safety of BPA in products; outline a plan to develop alternatives to BPA in can linings; and address what the company is doing to maintain leadership and public trust on this issue”.
Michael Passoff, senior strategist for As You Sow, one of the shareholder groups, again labelled Coke an “industry laggard” warning this was “a bad message to send to investors”.
source
http://www.foodqualitynews.com/Public-Concerns/Coca-Cola-rejects-growing-calls-for-bisphenol-A-disclosure/?c=TJ6pZf%2BpD7d8yBZjuKpZWw%3D%3D&utm_source=newsletter_daily&utm_medium=email&utm_campaign=Newsletter%2BDaily
But the beverage giant’s chief rejected the call made at the company’s annual general meeting yesterday - despite the fact that the motion received 20 per cent more support than when it was first proposed last year.
Muhtar Kent, CEO and chairman told shareholders the company did not believe there was sufficient scientific evidence to stop using BPA in the epoxy linings of its cans.
He added Coke had provided as much information as it could without divulging proprietary competitive data.
Financial risk?
The resolution, put forward by a trio of shareholder advocacy groups, called on Coca-Cola chiefs to: “issue a report to their investors disclosing how it is responding to public concerns about the safety of BPA in products; outline a plan to develop alternatives to BPA in can linings; and address what the company is doing to maintain leadership and public trust on this issue”.
Michael Passoff, senior strategist for As You Sow, one of the shareholder groups, again labelled Coke an “industry laggard” warning this was “a bad message to send to investors”.
source
http://www.foodqualitynews.com/Public-Concerns/Coca-Cola-rejects-growing-calls-for-bisphenol-A-disclosure/?c=TJ6pZf%2BpD7d8yBZjuKpZWw%3D%3D&utm_source=newsletter_daily&utm_medium=email&utm_campaign=Newsletter%2BDaily