Over the past several years, we have witnessed a sea change in investor votes on climate-related resolutions, culminating on June 11, 2020 in a strong majority vote at Dollar Tree for action on climate. The resolution filed by Jantz Management, a Green Business Network member, calls on the company to set greenhouse gas (GHG) emission reduction goals, and received a whopping 67% support.
Green Business Network Director Fran Teplitz stated: “This vote is extraordinary as most social and environmental resolutions do not receive majority support and at most, 10% support, is needed for a resolution to be re-filed in the future to keep the issue in front of both corporate management and investors. Clearly investors want Dollar Tree to be part of climate solutions.”
The Jantz resolution was among the dozens of shareholder resolutions featured in Green America’s 2020 Shareholder Resolution Focus List. Christine Jantz, the firm’s CEO stated: “We believe this tremendous vote is a result of community wide activism on climate issues. Shareholders are urging the companies in which they invest to recognize and remedy their contributions to the climate crisis.”
Jantz Management filed the resolution at Dollar Tree because climate change poses an increasing threat to the fate of humanity and the global economy. Action is overdue and we must address the problem now, using every strategy we can – including shareholder pressure to urge companies to change their practices.
Shareholder Voters at Dollar Tree Make Big Move
While Dollar Tree engages in some energy efficiency enhancement measures, Jantz Management is not aware of company calculations or disclosure of estimated greenhouse gas emissions from its operations.
“Contrary to Dollar Tree's statement that the board and company have implemented the substance of the shareholder resolution, we are not aware that the company has made a commitment to setting long term GHG emissions reduction goals with quantitative targets. The Company has merely proposed to "discuss long-term goals." To our knowledge, Dollar Tree also has not established goals for reducing GHGs based on any time frame,” added Jantz.
Competitors to Dollar Tree, including TJX and Ross Stores, have already adopted strategies consistent with the shareholder resolution and in response to earlier shareholder resolutions brought by Jantz Management at these firms.
Shareholder power can make a real difference – we look forward to hearing about changes at Dollar Tree to address the company’s role in the climate crisis confronting us all.
By guest blogger: Christine Jantz, CEO of Jantz Management. Jantz Management is a certified Green Business Network member.
