Date: June 3, 2022
Source: News Room
As Amazon has meteorically risen to become one of the world's largest e-commerce platforms, so has its footprint on global waste. Amazon produces a massive amount of plastic waste, which it uses to package and protect products as they reach their destination. As the pandemic steered more customers away from traditional brick and mortar stores and online, Amazon's plastic production increased by 29 percent, creating a massive problem for shareholders and stakeholders who want the company to reduce its environmental footprint.
The shareholder vote, which was on a measure that would have required Amazon to disclose its plastic production and commit to reduction, received 48 percent support. While this measure failed to reach a majority, it shows that there is a major movement within the company to address the issue. Much of the pressure comes from institutional investors, with an increasing focus on ESG objectives, who are leveraging their holdings to pressure company managers to change their practices accordingly.
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