Abbott Laboratories

Proxy Season Update: Abbott

2014 Annual Meeting: 8:00 AM EDT, Friday, April 25, 2014
Abbott Laboratories, 100 Abbott Park Road, Abbott Park, Illinois 60064

Abbot Laboratories has two pending ESG shareholder proposals in 2014.

  • ENVIRONMENT: Genetically Modified Foods
    • As You Sow has returned to Abbott Laboratories with a resolution that earned 3.2 percent in 2013, asking it to label GMO products unless they are proven to be safe, saying that:

      …unless long-term safety testing demonstrates that genetically engineered crops, organisms or products thereof are not harmful to humans, animals and the environment, the company’s board of directors [should] adopt a policy to identify and label, where feasible, all food products manufactured or sold under the company’s brand names or private labels that may contain genetically engineered ingredients and report to shareholders…

    • This resolution from the American Federation of State, County and Municipal Employees (AFSCME) asks for annual reports on policy, payments, memberships in groups that write model legislation, information on how these payments occur, and how management and the board of directors monitor them. The proposal says the reports should include:

      1. Company policy and procedures governing lobbying, both direct and indirect, and grassroots lobbying communications.
      2. Payments by [the company] used for (a) direct or indirect lobbying or (b) grassroots lobbying communications, in each case including the amount of the payment and the recipient.
      3. [The company’s] membership in and payments to any tax-exempt organization that writes and endorses model legislation.
      4. Description of the decision making process and oversight by management and the Board for making payments described in sections 2 and 3 above.

      For purposes of this proposal, a “grassroots lobbying communication” is a communication directed to the general public that (a) refers to specific legislation or regulation, (b) reflects a view on the legislation or regulation and (c) encourages the recipient of the communication to take action with respect to the legislation or regulation. “Indirect lobbying” is lobbying engaged in by a trade association or other organization of which [the company] is a member. Both “direct and indirect lobbying” and “grassroots lobbying communications” include efforts at the local, state and federal levels.

      The report shall be presented to the Audit Committee or other relevant oversight committees of the Board and posted on the company’s website.

For more information, download Proxy Preview 2014 to find more GMO or lobbying shareholder resolutions.