Four Strong Shareholder Votes on Unrecyclable Flexible Packaging Highlight the 2025 Shareholder Season for Circular Economy Action
FOR IMMEDIATE RELEASE
MEDIA CONTACT: Ryon Harms, [email protected], (310) 730-9407
EL CERRITO, CA—June 16, 2025—Shareholders sent a message to companies using large quantities of plastic packaging this shareholder season: It’s time to phase out the use of flexible plastics and to start financing credible recycling options. That was the message sent by shareholders of consumer goods giants Amazon, KraftHeinz, Mondelez International, and PepsiCo this year. Flexible packaging was the focus of fully half of the plastics resolutions filed by shareholder representative As You Sow in the 2025 shareholder season.
Shares valued at more than $241 billion supported the proposals, which asked each company to address the risks of continuing to use unrecyclable, flexible plastic packaging, including pouches, sachets, and thin film often used in chip and snack packaging. Each proposal received double-digit support. These votes are particularly important for companies that have internal deadlines to make all packaging recyclable by the end of the year.
“Shareholders have put companies on notice that missing a 2025 goal to make their packaging recyclable raises deep concerns, especially with regard to risks for brand reputations,” said Conrad MacKerron, senior vice president, As You Sow. “Consumers are tired of companies making promises on recycling; they want action.”
Shareholder support ranged from 15.6% at PepsiCo to 13.7% at Mondelez, 13.6 % at Amazon, and 11.6% at Kraft Heinz investors. Flexible plastic packaging resolutions received support because it is especially susceptible to becoming plastic pollution as its multi-layer, multi-material composition makes it virtually impossible to process in conventional recycling systems.
One company, Mondelez, has a whopping 71% of its plastic packaging in flexibles; and more than 18% of PepsiCo plastic packaging is flexible. Both companies, along with scores of others, have pledged to make all packaging recyclable by the end of 2025 under the Ellen MacArthur Foundation New Plastics Economy Global Commitment, the largest corporate collaboration on preventing plastic pollution.
Under seven new extended producer responsibility (EPR) laws in California, Colorado, Maine, Maryland, Minnesota, Oregon, and Washington, users of flexible plastic are expected to face some of the highest producer fees to process nonrecyclables compared to recyclable or reusable packaging alternatives. The rapid adoption of producer responsibility laws means that 1 in 5 Americans now lives in a state with planned or active packaging EPR requirements.
In other results for the 2025 shareholder season, 17% of The Home Depot shareholders, representing $43 billion in share value, supported a proposal asking the company to commit to making its packaging recyclable, reusable or compostable; and 8.8% of The Wendy’s Co. shareholders ($149 million in share value) supported a proposal asking the company to shift toward reusable packaging.
As You Sow filed the first shareholder proposal challenging a tire company to develop policies to reduce tire shedding which contributes to microplastic pollution. The proposal was supported by 5.6% of Goodyear Tire & Rubber shareholders representing $120 million in share value.
“These vote results ensure that all the proposals can be re-filed if necessary next year,” added MacKerron. “We view the season’s vote totals as encouraging, given overall lower vote results for ESG-oriented proposals this year due to ongoing anti-ESG political pressure and major asset managers moving back to a position of consistently voting with management.”
“Despite the anti-regulatory political atmosphere, As You Sow and a broad range of investors, asset managers, and asset owners expect companies to hold fast with commitments to reduce plastic pollution by making packaging recyclable, using high levels of recycled content, and exploring ways to substitute reusable and refillable packaging applications for single-use applications,” said Kelly McBee, As You Sow Circular Economy Manager.
About As You Sow
As You Sow is the nation’s leading shareholder representative, with a 30-year track record promoting environmental and social corporate responsibility. Its focus areas include climate change, ocean plastics, toxins in the food system, the Rights of Nature, racial justice, and workplace diversity. Click here to view As You Sow’s shareholder resolution tracker.