The majority of shareholders at fast food chain McDonald’s voted against a resolution aimed at curbing the use of antibiotics in its industrial meat production despite concerns raised by pension savers.
The shareholder resolution asked McDonald’s to take the risks associated with antibiotic resistance more seriously and reduce the use of antibiotics in its meat production.
However, at the AGM on Wednesday 29 May, 15% voted in favour of the resolution, a 2% decrease from last year where the resolution was also proposed.
This is despite a PensionBee survey finding nearly three quarters (74%) of 23.6 million pensions savers were in support of putting pressure on the fast food chain regarding the use of antibiotics in its meat.
McDonald’s is the largest purchaser of beef and pork globally, and its extensive use of antibiotics in industrial meat production poses a threat to public health, PensionBee said. Further, the overuse of antibiotics is suggested to contribute to antibiotic-resistant bacteria, which impacts the effectiveness of drugs in treating infections.
Clare Reilly, chief engagement officer at PensionBee, commented: “The outcome of this shareholder resolution will come as a disappointment for pension savers.
“Our research suggests overwhelming support from nearly three quarters of pension savers, which underscores the urgent need for corporations to take responsibility for their impact on public health and the environment.
“Although the trend of voting from last year shows positive movement, more work is needed – and fast – for these benefits to truly come to fruition.”
