Demand that Mondelez End Child Labour in Cocoa Production

There have been many efforts across decades to hold major cocoa companies legally and otherwise accountable for their ongoing use of child labour in their supply chains. But these companies persist in prioritizing short-term profits fueled by the cheap labour of exploited children and ignore the considerable negative long-term financial impacts of their persistent violation of human rights.

Demand that Mondelez End Child Labour in Cocoa Production

There have been many efforts across decades to hold major cocoa companies legally and otherwise accountable for their ongoing use of child labour in their supply chains. But these companies persist in prioritizing short-term profits fueled by the cheap labour of exploited children and ignore the considerable negative long-term financial impacts of their persistent violation of human rights.

Tulipshare and Advance ESG request that the Mondelez Board of Directors comply with the UN Sustainable Development Goal 8.7 by taking immediate and effective measures to eradicate child labour from the company’s supply chain by 2025.

Tulipshare and Advance ESG request that the Mondelez Board of Directors comply with the UN Sustainable Development Goal 8.7 by taking immediate and effective measures to eradicate child labour from the company’s supply chain by 2025.

Despite industry promises to the contrary, child labour in the cocoa producing industry has been steadily increasing. A recent US Department of Labor-funded study found that 1.56 million children are harvesting cocoa in Ghana and Cote d’Ivoire. This is two decades after the major cocoa companies promised to end their reliance on child labour in the 2001 Harkin-Engel Protocol. Many children are trafficked from Mali and Burkina Faso to work under slavery-like conditions. Forced child labour routinely results in extreme bodily and mental harm, and in nearly every case, it cuts children off from schooling and health care, restricting their fundamental rights and threatening their futures. Moreover, United Nations officials estimated that the COVID-19 pandemic exacerbated these issues, funnelling millions of children into the workforce, including ten-year-olds working on cocoa plantations in West Africa.

This clear violation of human rights also adversely impacts a corporation's ESG ratings, thereby inhibiting investors, worsening their risk management, increasing their costs, reducing their revenues and lowering their share price. With blockchain and distributed ledger technology, companies now have a safe and transparent tool to effectively monitor and police their supply chains and there is no longer any financial excuse for forced child labour to be a part of any company's supply chain. Studies have documented that implementing a progressive child labour policy has an overall positive effect on revenue.

AGM RESULTS

Our proposal received a supporting vote of 19.8% at Mondelez's 2023 AGM. This means, we will be able to refile the proposal next year. Next Annual General Meeting Date: Mondelez's 2023 AGM will be held on 17th May at 9am CDT (3pm GMT). Make sure to vote FOR Tulipshare's proposal listed as item 7. Every vote counts!

RECORD DATE

The record date pertains to the date by which investors must hold their shares in a company in order to participate in the company’s AGM. Mondelez’s 2023 AGM record date is the 8th of March 2023.

Voting at the AGM

If you hold Mondelez stock before the next AGM record date, you will be eligible to vote at the next Mondelez AGM. You will receive an email from us nearer the time about how to do so. With the launch of this campaign, we will begin immediate discussions with Mondelez’s Investor Relations team with the view of submitting a proposal in time for the 2023 proposal if we cannot come to a resolution prior to then.

campaign progress
Apr 3, 2023

4/3/23

We met with Mondelez

We met with Mondelez

Tulipshare met with Mondelez on the 3rd April. Though the Company believes they are doing enough to address child labor in their cocoa supply chain, we're not convinced and had some follow up questions. Onwards to the AGM!

Tulipshare met with Mondelez on the 3rd April. Though the Company believes they are doing enough to address child labor in their cocoa supply chain, we're not convinced and had some follow up questions. Onwards to the AGM!

how activism Investment works

how activism Investment works

What is shareholder activism?

Shareholder activism is when shareholders use their influence as owners of a company to effectuate change within the organisation.

What is Tulipshare?

Tulipshare is a sustainable investment fund and shareholder advocacy group on a mission to help investors push for stronger environmental and social commitments, using corporate governance to create a positive impact and ensure the companies we invest our money in are being responsibly managed by accountable leadership.

How does Tulipshare improve sustainability through investing?

Tulipshare addresses issues pertaining to climate change, human rights, racial and gender equity, political spending and operational transparency within some of America’s biggest publicly traded companies - issues that if left unaddressed could expose a company and its investors to significant legal, reputational and financial risks.

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Tulipshare Ltd. Registered Office: 64 Nile Street, International House, London N1 7SR. | Registered in England & Wales. Company No: 12870288.
Your privacy is important to us. Please read our Privacy Policy to understand how we collect, use and share information about you.

No Investment Advice:
The information provided on this website is for informational purposes only and should not be considered as investment advice. We do not provide personalised investment recommendations or endorse any particular trading strategy. Any decision to engage in trading activities is solely at your own risk. You are responsible for conducting your own research and making informed investment decisions.