Human rights activists attempt to hijack Woolworths AGM

Woolworths’ AGM could be hijacked by activists — 106 shareholders who own just 0.0097 per cent of its shares.

Woolworths’ annual general meeting could be hijacked by unnamed human rights and social activists after the supermarket giant revealed that two resolutions submitted by a minority of shareholders would be voted on at the late-November gathering.

In a brief release to the Australian Securities Exchange yesterday, Woolworths said the resolutions for consideration at the AGM had been received under section 249N of the Corporations Act from 106 Woolworths shareholders who represent about 0.0097 per cent of shares on issue.

The first resolution is for an amendment to the Woolworths constitution that would insert a new clause allowing member resolutions at general meetings. The second is on human rights and applies to the retailer’s operations and supply chains.

A not-for-profit group called the Australasian Centre for Corporate Responsibility is behind the resolutions. It is a self-­described activist group seeking to promote “informed shareholder engagement and advocacy for more just and sus­tainable corporate activity”.

The ACCR recently put ­forward a shareholder resolution to miner BHP Billiton asking it to reconsider its membership with the Minerals Council of Australia and to commission a review of its positions related to energy and climate change.

The ACCR’s executive director is Brynn O’Brien, a lawyer with a background in human rights, global work and ­migration. She is described on the ACCR website as an expert on the UN Guiding Principles on Business and Human Rights.

An increasing number of AGMs are being derailed by activists who use small share holdings as a platform to make speeches or demand new initiatives on human rights, global warming, energy use and marriage equality.

The resolution asks that the Woolworths board of directors report annually to shareholders on the company’s due-diligence process for identifying, analysing and addressing potential and actual human rights impacts throughout the group’s operations. The resolution also recommends the framing and assessment of these human rights impacts be taken from the UN Guiding Principles on Business and Human Rights, the International Bill of Human Rights and Universal Declaration of Human Rights.