U.S. Climate Action Partnership

PepsiCo’s Lobbying for Cap and Trade to be Hit at Annual Meeting

Submitted by Peter Flaherty on Tue, 05/04/2010 - 09:42

PepsiCo logoNLPC is sponsoring a PepsiCo shareholder proposal asking for a report on the company’s lobbying priorities. At the PepsiCo annual tomorrow in Plano, Texas, I will argue that the company’s lobbying priorities are seriously out of whack.

I will cite PepsiCo’s membership in U.S. Climate Action Partnership (USCAP), a coalition of corporations and environmental groups. USCAP’s mission is to “quickly enact strong national legislation to require significant reductions in greenhouse gas emissions.” The House of Representatives has obliged in the form of the Waxman-Markey bill that would destroy over 1.1 million jobs, hike electricity rates 90 percent, and reduce the U.S. gross domestic product by nearly $10 trillion over the next 25 years.

SEC: Pepsi Must Allow NLPC Proposal on Lobbying Priorities Like Cap and Trade

Submitted by Peter Flaherty on Mon, 03/08/2010 - 21:18

Pepsi logoThe Securities and Exchange Commission (SEC) has ruled that PepsiCo may not exclude a shareholder proposal filed by NLPC that asks the company for a report on its lobbying priorities. PepsiCo is a member of the U.S. Climate Action Partnership (USCAP), a coalition of corporations and environmental groups that lobbies for the disastrous cap and trade legislation.

Our resolution will appear in PepsiCo’s proxy materials, and I will speak in its support at the company’s annual meeting this spring.

By trying to preclude a shareholder discussion of this and other issues, PepsiCo CEO Indra Nooyi seems unwilling to publicly defend the company's controversial public policy positions, which is exactly the point of our resolution. Maybe the company should change its positions on cap and trade, and other issues where it sides with anti-business activists.

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