FOR IMMEDIATE RELEASE

MEDIA CONTACT: Stefanie Spear, sspear@asyousow.org, 216-387-1609

BERKELEY, CA—DEC. 17, 2021—A majority of AutoZone shareholders voted Wednesday in favor of an As You Sow resolution requesting the company report on plans to adopt net-zero climate targets and annually disclose progress. The proposal earned a vote of 70.4% representing shareholder support of more than $25 billion in assets.

This resolution is part of a larger “Say on Climate” investor movement calling for companies to develop a net-zero climate transition plan and report annually on its progress. A recent study found that 20% of the world’s 2,000 largest public companies have adopted net-zero commitments, representing annual sales of nearly $14 trillion. AutoZone has yet to establish enterprise-wide or long-term emission reduction goals aligned with a net-zero-by-2050 goal.

“The message from shareholders is clear,” said Danielle Fugere, president of As You Sow. “Companies must set a 1.5 degree-aligned carbon reduction goal and align their actions to achieve it. If every company takes responsibility for reducing its product and value-chain emissions, at the rate and scope dictated by science, we will have gone a long way toward achieving the global Paris goal.”

Ambitious emissions cuts must be made in this decade to avoid catastrophic climate impacts. The vote at AutoZone is part of a growing number of majority-supported resolutions this year calling for net-zero targets from companies — including an impressive 92.1% vote by Sysco shareholders late last month and a 56.4% vote by Booking Holdings shareholders in June. 

“With this vote, shareholders have again demonstrated their support for resolutions requesting credible net-zero-by-2050 climate goals and aligned transition plans,” said David Shugar, Say on Climate initiative manager at As You Sow. “Companies need to assure investors the necessary work is being done to manage climate risk.”

As You Sow’s climate transition plan resolutions refer to the CA100+ benchmark as best practice for companies in setting net-zero plans. In response to material climate risk, the Climate Action 100+ initiative, a coalition of more than 615 investors with more than $60 trillion in assets, issued a Net-Zero Company Benchmark outlining metrics that create climate accountability for companies and transparency for shareholders. 

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As You Sow is a nonprofit organization that promotes environmental and social corporate responsibility through shareholder advocacy, coalition building, and innovative legal strategies. See our resolutions here.