98% and 99% of shareholders voted to maintain DEI programs ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

[Image alt text: As You Sow® banner with logo, image of mountains and a lake, and text saying: The nation’s leading nonprofit shareholder representative, with a 30+ year track record of changing corporations for good] < [link removed] > Dear John,

Shareholders continue to play a significant role in shaping corporate behavior. From maintaining workplace diversity programs at major corporations, to preventing illegal deforestation, look below for examples of how investors are embracing their power at this critical moment.Over 98% of shareholders in support of workplace diversity

This proxy season, over 98% of investors have voted in support of maintaining current corporate diversity, equity, and inclusion (DEI) programs. We have already seen 13 out of 13 votes at these historic levels. This represents over $4.1 trillion worth of shares voted in support of management sending the message that business decisions should be based on business data and not on politics.

[Image alt text: Diverse group of people working together]

Why? Because, as we showed in our study < [link removed] > of 1,341 companies over five years, greater diversity leads to financial outperformance.

In an article < [link removed] > quoting As You Sow, USA Today recently examined the narrative that companies are rolling back their DEI programs, stating: Some 85% of companies report that their executive teams are just as committed – or even more – to building fair and inclusive workplaces as they were a year ago, according to a recent Paradigm survey.

So far this season, 13 companies including Disney, Costco, Visa, Apple, Deere, Boeing, Goldman Sachs, Levi’s, AMEX, Coca-Cola, Berkshire Hathaway, Bristol Myers, and Gilead Science have seen near-unanimous votes sending a clear message to the boards that shareholders want a diverse workforce.Shareholders insist on deforestation-free avocados

In February, our monthly email to you detailed how As You Sow’s engagements with major avocado retailers and distributors helped lead them to stop purchasing from illegally deforested orchards in Mexico. Key players like Mission Produce, Target, and Kroger are now deepening their commitments to the Pro-Forest Action Certification (PFAC) by refusing to put non-certified fruit on their shelves. This signals a shift in the industry's understanding of the environmental and reputational hazards associated with sourcing from illegally cleared lands.

[Image alt text: Avocados]

Illegal deforestation often intertwines with organized crime and ecological devastation, particularly significant for Indigenous communities who have long acted as guardians of these vital forests. PFAC not only acknowledges their crucial conservation role but also positions them as key suppliers in a more ethical avocado market.

These hard-won shifts demonstrate the real-world environmental and social dividends that focused shareholder engagement can yield.We're not slowing down, and even in the face of the most challenging adversity, we’re achieving major wins, helping corporations to make major changes to reduce risk for all stakeholders. Your support is what makes that possible. Stay tuned next month to see if every DEI resolution earns the same level of support this season – we expect they will.

For the future, [Image alt text: Photo of Forest Resener] [Image alt text: Signature of Forest Resener] Forest M Resener

Development Manager, As You Sow

P.S. Check out As You Sow CEO Andrew Behar’s column Fiduciary Future < [link removed] > on Impact Alpha, and the most recent article, “From waste to wealth: Turning coal’s toxic legacy into a clean energy future < [link removed] > .”

Donate < [link removed] >

As You Sow < [link removed] > is the nation’s leading shareholder representative, with a 30+ year track record promoting environmental and social corporate responsibility and advancing values-aligned investing. Its issue areas include climate change, ocean plastics, toxins in the food system, biodiversity loss, racial injustice, and lack of workplace diversity. See As You Sow’s shareholder resolution tracker < [link removed] > . < [link removed] > < [link removed] >

As You Sow

11461 San Pablo Avenue, Suite 400

El Cerrito, CA

94530

[Image alt text: Charity Navigator Four Star emblem and Candid Platinum emblem]

DISCLAIMER: As You Sow is not an investment advisor, nor do we provide financial planning, legal or tax advice. The content of our programming, publications and presentations is provided for informational and educational purposes only, and should not be considered as information sufficient upon which to base any decisions on investing, purchases, sales, trades, or any other investment transactions. We do not express an opinion on the future or expected value of any security or other interest and do not explicitly or implicitly recommend or suggest an investment strategy of any kind.

Copyright © 2025, All rights reserved.

Did you receive this email from a friend? Sign up here to receive updates from As You Sow. < [link removed] >

You're getting this email because you've signed up for email updates.

Update your preferences < [link removed] > or unsubscribe from all < [link removed] > .