Ethos rejects Roche’s sustainability report
Published: Monday, Mar 11th 2024, 09:10
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The Ethos Investment Foundation considers Roche's sustainability report to be inadequate. It therefore recommends that the report be rejected at tomorrow's Annual General Meeting.
The climate strategy is inadequate due to a lack of scientific targets, the foundation wrote in a press release on Monday. In addition, most of the indirect greenhouse gas emissions had not been verified by an external auditor.
Ethos considers the information in the sustainability report to be limited. For example, targets for waste disposal and water consumption are not disclosed.
The Foundation also disagrees with the fact that the vote on the sustainability report is only consultative instead of binding. According to the Swiss Code of Obligations, the report must be approved by the Annual General Meeting in the same way as the annual financial statements.
In addition to the sustainability report, the Investment Foundation also rejects all agenda items relating to remuneration. It criticizes the lack of transparency in the remuneration report and the high remuneration of Chairman of the Board of Directors Severin Schwan.
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