At Woolworth’s AGM today, over 30% of Woolworths’ shareholders railed against the Board's recommendation and supported a resolution for the company to address the impacts their farmed seafood, such as Macquarie Harbor salmon, has on endangered species.
The resolution was filed by a group of shareholders organized by Sustainable Investment Exchange and supported by Tasmanian NGOs Neighbours of Fish Farming, Environment Tasmania and Living Oceans Society.
CEO of SIX, Adam Verwey said:
“This is a historically high vote for a shareholder resolution, and one of the highest votes ever on a nature resolution. Shareholders are sending a clear message that they’ve lost patience with Woolworths to adequately act on its nature risks and stop and extinction.
While Coles has started to remove salmon sourcing from Macquarie Harbour, Woolworths is still disputing the science. Shareholders just want Woolworths to get on with it and not contribute to the extinction of the Maugean skate.
By waiting for the Government to make a decision on whether to save the skate from the threat of industrial salmon farming, Woolworths is ignoring shareholders and transferring that risk to them. Australia’s big super funds, for example, now have to go back to their members and explain that one of their investments is still making excuses to not act on an extinction.
Woolworths’ claim that the scientific consensus on why skate numbers have plummeted is undecided is either deliberately or unintentionally spreading lies perpetuated by the salmon industry to undermine a threat to its toxic business model.”
The clear consensus of scientists - including the Commonwealth’s Threatened Species Panel - is that there are “catastrophic” consequences unless “urgent” action is taken to remove industrial net pens from the harbor - feedlots that supply some of Woolworths’ Own Brand salmon.
In 2023, Woolworths received a score of 0 for measuring their impacts and dependencies on nature by the World Benchmarking Alliance. Woolworth’s 2024 Sustainability Report omitted any mention of the impact its salmon is having on the population of the endangered Maugean skate that only exists in Macquarie Harbour.
Kelly Roebuck, Vice Chair of Environment Tasmania, said: “Woolworth’s has the opportunity to be a leader in selling sustainably sourced seafood by doing their own due diligence on their supply chains and how they negatively impact nature, instead of hiding behind flawed third-party certifications.”
Media contacts
Adam Verwey
CEO, Sustainable Investment Exchange
0400 290 762
Kelly Roebuck
Vice Chair of Environment Tasmania / Seafood Campaign Manager, Living Oceans
0432 660 064