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Hershey | PX14A6G: Notice of exempt solicitation

SEC announcement ·  Apr 12 11:07
Summary by Moomoo AI
The Hershey Company is facing a shareholder proposal urging the company to report on its packaging reuse and recycling efforts, highlighting the growing risks associated with plastic pollution and packaging waste. The proposal, submitted by As You Sow for the upcoming annual meeting on May 6, 2024, calls for Hershey to support a circular economy for packaging at its end-of-life. It emphasizes the financial, reputational, and operational risks of not addressing the issue, citing potential regulatory costs of $100 billion annually if corporations are held responsible for waste management. The proposal points out that Hershey's current actions are insufficient compared to over 100 leading companies that have committed to Extended Producer Responsibility (EPR), which includes taking financial responsibility for the collection...Show More
The Hershey Company is facing a shareholder proposal urging the company to report on its packaging reuse and recycling efforts, highlighting the growing risks associated with plastic pollution and packaging waste. The proposal, submitted by As You Sow for the upcoming annual meeting on May 6, 2024, calls for Hershey to support a circular economy for packaging at its end-of-life. It emphasizes the financial, reputational, and operational risks of not addressing the issue, citing potential regulatory costs of $100 billion annually if corporations are held responsible for waste management. The proposal points out that Hershey's current actions are insufficient compared to over 100 leading companies that have committed to Extended Producer Responsibility (EPR), which includes taking financial responsibility for the collection, sorting, and recycling of packaging. Hershey's has been criticized for not contributing to recycling infrastructure and for receiving an 'F' grade in As You Sow's Corporate Plastic Pollution Scorecard. The proposal suggests that Hershey's could mitigate risks by adopting a circular economy approach and contributing to recycling infrastructure. The Board of Directors has opposed the proposal, but the proponents argue that Hershey's lacks transparency and action regarding the end-of-life management of its packaging, which could expose the company to various risks.

This announcement is a separate document:

Doc 1

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