Responding to shareholder concerns, McDonald’s Corporation has agreed to formally survey and promote best practices in reducing crop protection products within its American potato supply chain. As the largest buyer of potatoes in the U.S., McDonald’s commitment will support progress on this issue.
This agreement led to the withdrawal of a shareholder resolution filed by the Bard College Endowment, Newground Social Investment, and the AFL-CIO Reserve Fund. This was the first shareholder resolution focused on environmental issues ever to be filed by a college or university endowment.
Through this agreement, McDonald’s has committed to:
• survey its current U.S. potato suppliers;
• compile a list of best practices in pesticide reduction that will be recommended to the company’s global suppliers (through the company’s Global Potato Board);
• communicate findings related to best practices to shareholders, and in the company’s annual corporate social responsibility report.
The agreement was developed in collaboration between shareholders and McDonald’s, with support from the Investor Environmental Health Network.
The agreement between McDonald’s and shareholders can be found on the SEC website at: http://www.sec.gov/divisions/corpfin/cf-noaction/14a-8/2009/bardcollege031109-14a8.pdf.