Sustainability Reporting Proposal at Chipotle Receives More Than 30% of Vote
May 2014: Shareholders sent a strong message to the management of Chipotle Mexican Grill (NYSE: CMG) on May 15, with roughly one in three votes cast in favor of a request for a sustainability report. The proposal received a 31.3% vote, representing $3.5 billion. The shareholder proposal, filed by Trillium Asset Management LLC and Domini Social Investments,as co-filer, requested the Board of Directors to: issue an annual sustainability report describing the company’sshort- and long-term responses to ESG-related issues. The report should include objective quantitative indicators and goals relating to each issue where feasible, be prepared at a reasonable cost, …
Bloomberg Businessweek: Chipotle Asked to Back Up Image with Sustainability Report
Bloomberg Businessweek recently published a story about Trillium’s shareholder resolution, co-filed with Domini Social Investments, which asks Chipotle Mexican Grille (NYSE: CMG) to: “[I]ssue an annual sustainability report describing the company’s short- and long-term responses to ESG-related issues”. Leslie Patton writes: “Chipotle Mexican Grill Inc. which touts its natural ingredients and humanely raised meat, is being asked to show whether it practices what it preaches…Trillium and Domini are asking that Chipotle, along with more disclosure about the company’s farming standards, give shareholders more information on its carbon footprint, such as food packaging and store water use, as well as labor …
What’s On Your Plate? Pressing Chipotle on Pesticides
Susan Baker Trillium Asset Management Corporation (“Trillium”) has been pressing restaurant chains to reduce the use of pesticides in their supply chains, continuing our research and advocacy on sustainable food and agriculture.1 Reducing pesticides is a logical step toward protecting the health of farm workers and consumers and minimizing soil and water contamination. The introduction of GMO seed has actually resulted an increase in pesticide use. Yet the restaurant industry has by and large failed to exercise its influence for good in this area. We think it is important for restaurants to get active to reduce pesticide use for a …
Chipotle – Ban on Pesticide Use (2010)
WHEREAS Chipotle has stated that “ ’Food With Integrity’ isn’t a marketing slogan. . . . It’s a philosophy that we can always do better in terms of the food we buy.” Yet, Chipotle has not systematically addressed the use of pesticides in its food sources. (http://www.chipotle.com/html/fwi.aspx) Chipotle customers and shareholders have come to expect the company to provide leadership in product sustainability. The company has begun gathering important information on water treatment and pesticide management from its avocado suppliers, but Chipotle does not report on this information to the public. Reporting on such practices as those used in its …
Chipotle Mexican Grill, Inc.
Chipotle Mexican Grill (CMG – NYSE) operates fast, casual, fresh Mexican food restaurants serving burritos, tacos, bowls and salads. Through its vision of “Food with Integrity,” Chipotle is seeking better food that is sustainably grown and naturally raised with respect for animals, the land and farmers. The Company has about 700 restaurants in 33 states, almost all of which are company-owned. Chipotle is a well-executed concept and great growth-stock story. The company has consistently beaten consensus earnings estimates since going public and over the last five years revenues have grown between 30 and 55 percent. Strong growth across all of …
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