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Amazon 2019 AGM Preview: Does negative ESG sentiment reflect ~$4.5B of hidden costs not priced in to Amazon’s valuation?

May 2, 2019

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Amazon shareholders have a fiduciary duty to consider proxy votes this May as activist investors and employees have proposed 12 ESG-related items for consideration on a variety of topics.

  • In recent years Amazon’s carbon intensity versus peers has risen and its GHG emission ESG performance has dropped, as discussion around carbon footprint disclosure heats up
  • SASB does not consider labor issues such as minimum wages as material to E-Commerce, but Amazon is unique because of its large fulfillment workforce that has low wages
  • This brief includes a crib sheet examining the various shareholder proposals up for a vote, including consideration of reporting on the societal ramifications of Amazon’s Rekognition facial recognition product
Industry
E-Commerce

Material Categories
Compensation and Benefits
Fair Labor Practices
GHG Emissions
Lifecycle Impacts of Products and Services
Recruitment, Development, and Retention