Nestlé has today confirmed its strong support for a shareholder say on ESG (Environmental, Social and Governance) matters. This follows recent activities and movements in Europe and around the world regarding a 'say on climate' for shareholders.
Nestlé has always been deeply committed to transparency on our ESG priorities. We recently presented our roadmap to reach net zero greenhouse gas emissions by 2050, a move that was highly appreciated by investors and other stakeholders, as well as the broader public.
We believe that shareholders have a right to be involved in our progress on topics like reduction of greenhouse gas emissions, responsible sourcing, sustainable packaging and water, among others.
That is why we welcome upcoming changes to Swiss legislation in this area. This legislation will likely go into effect next year and require reporting and a shareholder vote on non-financial performance as from 2024.
Nestlé today pledges not to wait until 2024, but to start the revision of our Articles of Association as soon as the direction of travel is clear later this year. The consideration of the new law instead of a premature revision of the Articles of Association will avoid duplications and inconsistencies and give shareholders a say as soon as possible.