Company’s annual proxy statement recommends vote against shareholders’ request to act as healthcare in Georgia reaches crisis point

FOR IMMEDIATE RELEASE

MEDIA CONTACT: Sophia Wilson, swilson@asyousow.org, (341) 600-183

BERKELEY, CALIFORNIA—MAY 1, 2024 —Today, Coca-Cola shareholders will vote on a proposal calling on the company to report known or potential risks to employees caused by the declining quality of their medical care and restrictive public healthcare policies with implications for all of its employees’ health and wellness, regardless of fertility status or gender. With headquarters in Atlanta, Coca-Cola employees face the brunt of an existing healthcare crisis in Georgia worsened by legislative interferences in accessible healthcare.

Georgia is already ranked as the worst state in the country for healthcare due to high costs, limited access, lack of affordable health insurance, and overall poor health outcomes. Investors note that states enacting new post-Roe restrictions on reproductive healthcare are losing healthcare professionals and are seeing a drop in medical students willing to train in their states.

“Investors demand effective risk management strategies from the company to support healthy and productive employees,” said Meredith Benton, workplace equity program manager at As You Sow and founder of the consultancy Whistle Stop Capital. “Employees' inability to access care and quality medical professionals may significantly harm their health, productivity, and ability to contribute as Coca-Cola employees. Assessing the growing risks to employees from healthcare failures in Georgia would allow Coca-Cola to take action and protect its employees.”

Some large employers in states with healthcare access challenges have committed to monitoring the quality and timeliness of their employees’ medical care, holding active discussions with health insurers, and communicating concerns and priorities to legislators. These employers are closely monitoring and responding to diminishing healthcare access and healthcare quality faced by their employees. Investors expect that Coca-Cola will do the same.

“Georgia’s baseline access to healthcare is already among the worst in the nation and the state’s new restrictions on reproductive healthcare promise to worsen the quality of already limited healthcare," said Benton.

"The current legislative environment in Georgia puts the health and productivity of Coca-Cola’s employees in jeopardy. Investors believe Coca-Cola should assess how it can support its employees and report risks that directly impact their health and well-being,” said Andrew Behar, CEO of As You Sow. 

Investors are also concerned that labor shortages within the healthcare system, particularly maternal and women’s healthcare, will create life-threatening situations for Coca-Cola employees and their families. Delayed or inadequate medical care may result in absenteeism, higher healthcare costs, and decreased employee morale, ultimately impacting the company's bottom line and competitiveness in the market. Employees' inability to access care in a timely fashion or to have access to quality medical professionals may significantly harm their health, productivity, and ability to contribute as Coca-Cola employees. 

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As You Sow is the nation’s leading shareholder representative, with a 30-year track record promoting environmental and social corporate responsibility. Its issue areas include climate change, ocean plastics, pesticides, racial justice, workplace diversity, and executive compensation. Click here for As You Sow’s shareholder resolution tracker.

Whistle Stop Capital is a consultancy that supports asset owners and advisors in assessing and addressing material social and environmental exposures within investment portfolios. On behalf of clients, it researches, analyzes, and speaks with hundreds of companies a year on a range of sustainability and human rights-related topics.