Overwhelming pension saver support for Mondelez to demonstrate reduction in child labour

Ffion White

by , PR Manager

13 May 2024 /  

May 2024

A group of people raising their hands.

Pension savers want to see shareholders of Mondelez vote for the company to better evidence their work at ending child and forced labour in their cocoa supply chain at the company’s upcoming Annual General Meeting (AGM), a PensionBee survey has shown.

In the survey PensionBee1 heard that three quarters of respondents (75%) – equal to nearly 24 million pension savers2 – would vote in favour of demanding Mondelez (the company behind chocolate giant, Cadbury) to better demonstrate their actions at addressing child and forced labour issues within their cocoa supply chain by 2025 by setting specific goals and sharing numbers to showcase its progress.

The survey comes ahead of Mondelez’s AGM, scheduled for 22 May, where shareholders will be presented with crucial questions – including this one on child and forced labour – as part of a series of shareholder resolutions being tabled.

The PensionBee survey results show growing demand for corporate accountability and transparency, particularly concerning human rights issues in global supply chains. With shareholder activism gaining momentum, Mondelez faces mounting pressure to address concerns regarding child and forced labour in its cocoa-sourcing practices.

As of 2022, American firm Mondelez has a reported annual net revenue of around $36 billion and operates in more than 150 countries3. In 2024, it was ranked No.131 in the Fortune 500 list of the largest United States corporations by total revenue4.

Clare Reilly, Chief Engagement Officer at PensionBee, commented:

“Pension savers have told us they want to see action from Mondelez this AGM season. Our survey reveals an overwhelming 75% in favour of urging Mondelez to evidence how it is addressing child and forced labour issues within its cocoa supply chain by 2025, and then transparently reporting on its progress.

“Savers are clear that exploitative child labour in our chocolate supply chains needs to end. As shareholders convene at their AGM this week, this resolution again underscores growing calls for increased corporate accountability and an end to these practices throughout the cocoa industry. With Mondelez’s global reach, the time for action from shareholders through voting is now.”

1. The survey results are based on the responses of 1,000 UK residents – aged 18-66 – who either are currently contributing to a pension or have a pension that they are not currently contributing to (not including the State Pension). The survey was run in April 2024.

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

3. Mondelez company fact sheet 2024 and AGM 2024 details

4. Mondelez Fortune 500 List position

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