TORONTO, March 16, 2023 /PRNewswire/ — New York City Comptrollers Brad Lander and a coalition of long-term investors (PIRC on behalf of pension fund clients, as well as Canadian responsible investing organization SHARE – the Shareholder Association for Research and Education – on behalf of the Catherine Donnelly Foundation and Trillium Asset Management) welcomed reports corroborating the two largest independent proxy advisors , Glass Lewis and Institutional Shareholder Services (ISS), recommended investors to support the coalition shareholder proposal Calling on the Starbucks Board of Directors to oversee an independent assessment of workers’ rights.

In his justification, Glass Lewis noted that shareholders would benefit if the company assessed its compliance with its existing commitments to freedom of association and workers’ collective bargaining rights. The adviser reiterated the legal and financial risk concerns raised by the coalition of investors.

ISS noted that by implementing the proposal, shareholders would be able to better ensure the company’s compliance with its freedom of association policies and federal laws in response to collective bargaining by its workforce and the associated legal, reputational and financial risks to judge .

The shareholder proposal calls for an assessment of compliance with Starbucks’ stated commitments to workers’ rights to freedom of association and collective bargaining. It would also evaluate management’s non-interference when employees exercise their right to form or join a union and recommend steps to remediate any practices found to be inconsistent with Starbucks’ stated commitments.

Shareholders will have the opportunity to vote in favor of the proposal before and during the company’s annual general meeting March 23rd.

The proposal underscores the importance of board oversight and transparency regarding Starbucks management’s compliance with the company’s human rights policies. The National Labor Relations Board (NLRB) has…