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Wendy's proposal to disclose vulnerabilities of supply chain workers received majority support

The Climate Reality Project/Unsplash

Shareholders Calling for Human Rights Protections for Essential Food Chain Workers Prevail at Wendy's Annual Meeting

Shareholder proposal emphasized vulnerability of farmworkers in Wendy’s ($WEN) supply chain to COVID-19 and its failure to join the Fair Food Program…

[S]hareholders approved a proposal at Wendy’s asking the company to disclose evidence of whether its existing policies effectively protect workers in its food supply chain from human rights violations, including harms from COVID-19 – as well as whether Wendy’s mandates Covid-19 safety protocols for these workers.

The proposal emphasized that the Presidential Medal-winning Fair Food Program (FFP), which investors have urged Wendy’s to join, has effectively addressed these risks for participating companies through its industry-leading standards, monitoring mechanisms, and unparalleled record of enforcement. All of Wendy’s major peers, including Burger King ($QSR) and McDonald’s ($MCD) currently participate in the Program.

Investors are encouraged that the proposal was approved, and believe this will send a signal to Wendy’s that it must join the gold standard Fair Food Program. The vote comes on the heels of two letters sent to the company last month – one from over 100 investors representing $1 trillion in assets, the other from a coalition of six U.S. state treasurers – demanding that Wendy’s “join the FFP because it is uniquely effective for risk mitigation and compliance in the agricultural industry”…