An advisory shareholder proposal backed by more than six institutional investors asking McDonald's Corp. to conduct a third-party civil rights audit, the company reported in an SEC filing.
The proposal was filed by SOC Investment Group, an advocacy organization pushing for ethical and responsible corporate behavior. The proposal was approved on June 2 by 55% of shareholders including Norges Bank Investment Management, which manages the 12.34 trillion Norwegian kroner ($1.31 trillion) Norway Government Pension Fund Global, Oslo; $454.8 billion California Public Employees' Retirement System, Sacramento; C$539 billion ($427.9 billion) Canada Pension Plan Investment Board, Toronto; C$242 billion Ontario Teachers' Pension Plan, Toronto; $263.2 billion New York City Retirement Systems; and $253.1 billion Florida State Board of Administration, Tallahassee,
The SOC Investment Group works with union pension funds affiliated with the Strategic Organizing Center, whose members participate in Taft-Hartley plans with more than $250 billion in assets.
