{"id":3174,"date":"2023-05-02T12:52:58","date_gmt":"2023-05-02T17:52:58","guid":{"rendered":"https:\/\/nakedpolitics.net\/?p=3174"},"modified":"2023-05-02T12:52:59","modified_gmt":"2023-05-02T17:52:59","slug":"coca-cola-shareholders-snub-woke-suggestions","status":"publish","type":"post","link":"https:\/\/nakedpolitics.net\/?p=3174","title":{"rendered":"Coca-Cola shareholders snub \u2018woke\u2019 suggestions"},"content":{"rendered":"\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20370%20247'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7.png\" alt=\"\" class=\"zeen-lazy-load-base zeen-lazy-load wp-image-3175\"\/><noscript><img decoding=\"async\" width=\"1024\" height=\"680\" src=\"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7.png\" alt=\"\" class=\"wp-image-3175\" srcset=\"https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7.png 1024w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-300x199.png 300w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-770x511.png 770w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-370x247.png 370w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-293x195.png 293w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-120x80.png 120w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-240x160.png 240w, https:\/\/nakedpolitics.net\/wp-content\/uploads\/2023\/05\/image-7-390x259.png 390w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/noscript><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Coca-Cola\u2019s shareholders overwhelmingly rejected a series of left-wing proposals that demanded an audit on Coke\u2019s impact on non-white stakeholders, \u201ca report on risks from state policies restricting reproductive rights\u201d and more.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During its annual meeting of shareholders, the Coca-Cola board\u2019s voting recommendations carried the day over every single shareholder proposal \u2014 and none of the votes were particularly close; most&nbsp;<a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/cocacolacompany\/files\/pages\/cocacolacompany\/db\/844\/meeting_information\/2023_Proxy_Vote_for_Website.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">lost<\/a>&nbsp;by several billion votes.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Coca-Cola votes come during a time when American companies are seeing a widespread rejection of woke capitalism, fueled by the&nbsp;<a href=\"https:\/\/thespectator.com\/tag\/bud-light\">Bud Light<\/a>&nbsp;backlash.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20370%20247'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image.png?w=979\" alt=\"\" class=\"zeen-lazy-load-base zeen-lazy-load wp-image-53796\"\/><noscript><img decoding=\"async\" src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image.png?w=979\" alt=\"\" class=\"wp-image-53796\"\/><\/noscript><figcaption class=\"wp-element-caption\">From the agenda of the Coca-Cola shareholder meeting<\/figcaption><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">While the rejections of these proposals is undoubtedly welcome news to the growing movement of anti-woke corporations, Coca-Cola\u2019s rationale for why it opposed many of the proposals at times boiled down to how they\u2019re already doing much of what was demanded.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20370%20247'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image-2.png?w=836\" alt=\"\" class=\"zeen-lazy-load-base zeen-lazy-load wp-image-53797\"\/><noscript><img decoding=\"async\" src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image-2.png?w=836\" alt=\"\" class=\"wp-image-53797\"\/><\/noscript><\/figure>\n<\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20370%20247'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image-3.png?w=1024\" alt=\"\" class=\"zeen-lazy-load-base zeen-lazy-load wp-image-53798\"\/><noscript><img decoding=\"async\" src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image-3.png?w=1024\" alt=\"\" class=\"wp-image-53798\"\/><\/noscript><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">The board\u2019s statement of opposition to the proposal, for example, that would require \u201can audit of the Company\u2019s impact on nonwhite stakeholders\u201d (which was rejected 16.54 percent-83.46 percent) boils down to how the idea is redundant.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In its&nbsp;<a href=\"https:\/\/d1io3yog0oux5.cloudfront.net\/cocacolacompany\/files\/pages\/cocacolacompany\/db\/844\/proxy_materials\/Coca-Cola_2023_Proxy_Statement_-_Final_Bookmarked.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">memo<\/a>&nbsp;to shareholders, obtained by&nbsp;<em>The Spectator<\/em>, Coke touts how Diversity, Equity and Inclusion is a \u201cstrategic business priority,\u201d that it already \u201cpublicly disclose[s] gender globally and US race\/ethnicity by level, a practice that we will continue annually\u201d and that \u201cthe Coca-Cola Company and the Coca-Cola Foundation collectively gave more than $6 million in grants, donations and employee matching gifts to support organizations focused on social justice.\u201d&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe are already taking meaningful action in addressing the overarching issues raised in the proposal\u2026 Therefore, we do not think it is in the best interests of the business or our shareowners to divert resources from ongoing DEI actions and commitments and apply them toward an audit that would not yield meaningful enhancements to the Company\u2019s existing practices.\u201d<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns='http:\/\/www.w3.org\/2000\/svg'%20viewBox='0%200%20370%20247'%3E%3C\/svg%3E\" data-lazy-src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image-4.png?w=1024\" alt=\"\" class=\"zeen-lazy-load-base zeen-lazy-load wp-image-53799\"\/><noscript><img decoding=\"async\" src=\"https:\/\/thespectator.com\/wp-content\/uploads\/2023\/05\/image-4.png?w=1024\" alt=\"\" class=\"wp-image-53799\"\/><\/noscript><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">Coke\u2019s statement rejecting a proposal requiring it to publish a report \u201clisting and explaining any instances of incongruent expenditures\u201d provides more for opponents of woke capitalism to celebrate. This proposal (rejected 29.08 percent-70.92 percent) singles out politicians who backed Governor Brian Kemp\u2019s election reform laws, pro-life legislation and more as being incongruous with Coke\u2019s values. Coke, headquartered in Georgia, infamously faced extensive backlash from conservatives after it criticized the Georgia Republicans\u2019 electoral reforms.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While the proposal was overwhelmingly rejected, it provides an interesting look into the DEI Industrial Complex. It relies on data from the innocuous-sounding American Democracy Scorecard to urge Coke to cut off donations to Republicans. The scorecard itself is a&nbsp;<a href=\"https:\/\/www.influencewatch.org\/non-profit\/accountable-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">project<\/a>&nbsp;of Accountable.US, which in turn was a project of the left-wing New Venture Fund before&nbsp;<a href=\"https:\/\/www.influencewatch.org\/non-profit\/accountable-us\/\" target=\"_blank\" rel=\"noreferrer noopener\">spinning off<\/a>&nbsp;into its own standalone organization.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its president, Kyle Herrig, is a perfect embodiment of the left\u2019s&nbsp;<a href=\"https:\/\/www.influencewatch.org\/person\/kyle-herrig\/\" target=\"_blank\" rel=\"noreferrer noopener\">revolving door of staffing<\/a>. Herrig used to&nbsp;<a href=\"https:\/\/www.influencewatch.org\/non-profit\/wyss-foundation\/\" target=\"_blank\" rel=\"noreferrer noopener\">work<\/a>&nbsp;for the foundation of Hansj\u00f6rg Wyss, a foreigner accused of illegally&nbsp;<a href=\"https:\/\/apnews.com\/article\/dark-money-democrats-wyss-politics-elections-601d40cd01569190559d545418afe396\" target=\"_blank\" rel=\"noreferrer noopener\">funneling<\/a>&nbsp;tens of millions of dollars into the Democratic Party\u2019s infrastructure, and has been on the board of New Venture Fund \u2014 which conveniently helped start up his current adventure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Some of Coke\u2019s longtime opponents on the right are eager to view these developments as positive outgrowths of their relentless criticisms of the company. Will Hild, whose group Consumers Research has spent over $1 million&nbsp;<a href=\"https:\/\/www.foxbusiness.com\/politics\/consumers-research-woka-cola-ads\" target=\"_blank\" rel=\"noreferrer noopener\">attacking<\/a>&nbsp;\u201cWoka-Cola\u201d for everything from its ties to the Chinese Communist Party to childhood obesity told me that this is a welcome sign in the battle against woke capitalism.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cCompanies are finally beginning to realize they should focus on the things that impact their business and less on pleasing woke Wall Street and progressive politicians,\u201d he said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In recent weeks, the high-profile battles in the Woke Wars have been going Hild\u2019s way. The most high-profile of which has been the right\u2019s sudden sharp-turn against Bud Light\u2013which Hild gleefully capitalized on by launching \u201cwoke alerts\u201d to warn consumers when companies are \u201cputting progressive activists and their dangerous agendas ahead of customers.\u201d Hours after the organization\u2019s \u201cwoke alerts\u201d went live, Bud Light issued the most milquetoast&nbsp;<a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/anheuser-busch-dylan-mulvaney-statement-criticised-b2320459.html\" target=\"_blank\" rel=\"noreferrer noopener\">statement<\/a>&nbsp;of all time, and&nbsp;<a href=\"https:\/\/www.cbsnews.com\/news\/bud-light-dylan-mulvaney-transgender-anheuser-busch\/\" target=\"_blank\" rel=\"noreferrer noopener\">placed<\/a>&nbsp;several senior executives on leave.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">While Bud Light has stolen most of the headlines, anti-woke crusaders have gone on offense against other massive corporations in recent weeks as well. Another Hild campaign, that flew more under the radar than the mass anti-Bud Light mobilization, was Consumers Research\u2019s \u201cDon\u2019t trust Morningstar\u201d campaign, which&nbsp;<a href=\"https:\/\/freebeacon.com\/politics\/dont-trust-morningstar-advocacy-group-launches-nationwide-campaign-against-anti-israel-financial-firm\/\" target=\"_blank\" rel=\"noreferrer noopener\">lit into<\/a>&nbsp;the financial giant for its embrace of antisemitic environmental, social and governance (ESG) policies that punish companies that do business with the Jewish state of Israel.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Since January, companies have also had to reckon with the reality of a new sheriff in town. Until earlier this year, Democrats had complete control in Washington, DC; but since gaining the majority, Republicans have put corporate ESG practices squarely in their line of sight.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Representative Bill Huizenga, who\u2019s been&nbsp;<a href=\"https:\/\/huizenga.house.gov\/news\/documentsingle.aspx?DocumentID=401531\" target=\"_blank\" rel=\"noreferrer noopener\">leading the House GOP<\/a>&nbsp;into the fray against ESG told me that Coke\u2019s rejection of these proposals is part of a broader rejection of ESG that he\u2019s been noticing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThere are signs that the ESG movement may have crested,\u201d he said. \u201cCorporations are learning that if they give in on items to satisfy activists, there is no actual finish line to the craziness. Give an ESG activist a cookie, and they will want the whole company!\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Original Article: <a href=\"https:\/\/thespectator.com\/topic\/coca-cola-shareholders-snub-woke-proposals\/\">https:\/\/thespectator.com\/topic\/coca-cola-shareholders-snub-woke-proposals\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coca-Cola\u2019s shareholders overwhelmingly rejected a series of left-wing proposals that demanded an audit on Coke\u2019s impact on non-white stakeholders, \u201ca report on risks from state policies restricting reproductive rights\u201d and more. During its annual meeting of shareholders, the Coca-Cola board\u2019s voting recommendations carried the day over every single shareholder proposal \u2014 and none of the votes were particularly close; most&nbsp;lost&nbsp;by several billion votes.&nbsp; The Coca-Cola votes come during a time when American companies are seeing a widespread rejection of woke [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-3174","post","type-post","status-publish","format-standard","hentry","category-democrats"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/3174","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3174"}],"version-history":[{"count":1,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/3174\/revisions"}],"predecessor-version":[{"id":3176,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=\/wp\/v2\/posts\/3174\/revisions\/3176"}],"wp:attachment":[{"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3174"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3174"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nakedpolitics.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3174"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}