And last month I wrote that Bunge shareholders had the opportunity to push the company to a more aggressive position in ending deforestation. What happened? The shareholders said no.
Cue the sad trombone:
Neither was a surprise. The North Carolina bill originally passed with enough votes to easily override a veto. And the shareholder proposal to commit Bunge to protecting forests hadn’t drawn the public support of large institutional investors.
Still, there’s some good news here: In its statement to shareholders, Bunge said it’s actively working to map its supply chain and make a realistic plan to stop supporting deforestation.