Summary by Moomoo AI
Green Century Capital Management, Inc. has submitted Shareholder Proposal No. 8 for inclusion in General Motors Company's (GM) 2024 Proxy Statement, urging the automaker to enhance sustainability within its supply chain. The proposal requests GM to report on sustainability risks, particularly focusing on the sourcing of low-carbon primary steel and aluminum, and to set targets to eliminate deforestation risks associated with its leather, rubber, and mineral supply chains. The Proponent, representing a GM stockholder, emphasizes the need for GM to join initiatives like ResponsibleSteel and the Aluminum Stewardship Initiative to support the development of low-carbon primary metal industries. The proposal also highlights the reputational risks GM faces if it fails to address these sustainability concerns, noting that other automakers are making more rapid progress in this area. Green Century Capital Management is advocating for shareholder support of the proposal, which aims to ensure GM's supply chain is deforestation-free and to secure the company's long-term shareholder value by mitigating environmental risks.