Boston, February 14, 2024 – A noteworthy 11.6% of independent Tyson Foods shareholders voted in favor of a Green Century shareholder proposal urging the company to eliminate deforestation from its supply chains by 2025. Independent shareholders include all shares that are not held by Tyson Limited Partnership or Tyson’s directors or executive officers.
“Independent shareholders have sent a strong message that Tyson can’t put deforestation on the back burner,” said Leslie Samuelrich, president of Green Century. “Tyson should step up to the plate and make sure its meat doesn’t come with a side of forest destruction.”
The pace of deforestation broke records in 2023 in the Brazilian Cerrado, the world’s most biologically rich savanna, surging by nearly 45% since 2022. To produce its extensive line of meat products, Tyson Foods buys ingredients from countries around the world, including from high-risk regions such as Brazil where cattle ranching is the largest driver of deforestation.
Tyson’s Deforestation Goals Fall Short
Tyson aims to achieve a deforestation-free beef supply chain by the end of 2028 and to eliminate deforestation in its soy and palm oil supply chains by 2030. These goals fall 3-5 years short of recommendations from standard-setting bodies that have concluded that companies can’t hit their climate targets without eliminating deforestation by 2025.
Tyson also lags peers including Hormel Foods* and Conagra*, both of which recently pledged to be deforestation-free by 2025.
“This vote demonstrates a growing understanding among investors that deforestation in Tyson’s supply chain exposes the company to material risks,” said Annie Sanders, director of shareholder advocacy at Green Century. “We urge the company to take investor concern seriously and accelerate progress toward zero-deforestation.”
The Tyson family’s control of Class B shares means it holds up to 70% of the voting rights at the company. The support from independent shareholders is approximate and was calculated under the assumption that Tyson insiders, Tyson Limited Partnership, Tyson’s directors, and executive officers voted against the proposal.