PensionBee data shows majority of savers back Nestlé shareholder resolution for healthier food portfolio

Ffion White

by , PR Manager

27 Mar 2024 /  

27
Mar 2024

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PensionBee has released findings from its latest study indicating that pension savers are advocating for Nestlé to adopt shareholder resolution by increasing its range of genuinely healthy food products.

According to PensionBee’s nationally representative study, conducted among 1,000 UK pension savers1, two-thirds (66%) of those who responded, equivalent to 21 million individuals2, are in favour of Nestlé adopting internationally recognised standards for defining healthy food.

The survey comes in the wake of a report by campaign charity ShareAction. The charity recently announced the co-filing of a resolution urging Nestlé to establish a target aimed at enhancing the proportion of healthy food products in its portfolio.

Scheduled for voting at Nestlé’s Annual General Meeting (AGM) on 18 April 2024, the resolution aims to put pressure on Nestlé to align itself with credible standards on food health.

Currently, Nestlé’s definition of ‘nutritious’ encompasses items such as plain coffee, commercial baby foods (for children over 12 months old), vitamin and mineral supplements, and medical nutrition; a classification that has raised concerns among investors.

Clare Reilly, Chief Engagement Officer at PensionBee, commented: “With nearly seven in ten pension savers in our survey urging Nestlé to adopt internationally recognised healthy food standards, the call for meaningful action resonates strongly.

Mis-categorisation of food as ‘healthy’ presents a number of long-term risks to investors and society. Poor health outcomes impact all of us. Nestlé, along with the major food producers, have a responsibility to society to produce food that is genuinely nutritious and supports us all to lead healthier lives.”

Footnotes

  1. The survey results are based on the responses of 1,000 UK residents – aged 18-66 – who are currently contributing into a pension (not including the State Pension). The survey was run in March 2024.

  2. Based on ONS data stating around 31.9 million private pension savers.

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