The Securities and Exchange Commission (SEC) has ruled that PepsiCo may not exclude a shareholder proposal filed by NLPC that asks the company for a report on its lobbying priorities. PepsiCo is a member of the U.S. Climate Action Partnership (USCAP), a coalition of corporations and environmental groups that lobbies for the disastrous cap and trade legislation.

Our resolution will appear in PepsiCo’s proxy materials, and I will speak in its support at the company’s annual meeting this spring.

By trying to preclude a shareholder discussion of this and other issues, PepsiCo CEO Indra Nooyi seems unwilling to publicly defend the company's controversial public policy positions, which is exactly the point of our resolution. Maybe the company should change its positions on cap and trade, and other issues where it sides with anti-business activists.

PepsiCo distributes Aquafina, reportedly the largest-selling brand of bottled water in the United States. Bottled water has come under attack by the same people who push global warming alarmism. They argue that Aquafina is just tap water anyway, so it needlessly adds to carbon emissions to bottle it and truck it around.

Continue

www.nlpc.org/stories/2010/03/08/sec-rules-pepsico-must-allow-nlpc-shareholder-proposal-lobbying-priorities