WOOLWORTHS GROUP | Cease sourcing farmed salmon from Macquarie Harbour

Status
AGM passed
AGM date
Previous AGM date
Resolution details
Company ticker
WOW.AX
Resolution ask
Other ask
ESG theme
  • Environment
ESG sub-theme
  • Biodiversity / nature
Type of vote
Shareholder proposal
Filer type
Shareholder
Company sector
Consumer Staples
Company HQ country
Australia
Supporting materials
Resolved clause
Shareholders request that Woolworths cease procuring farmed salmon for its Own Brand products from Macquarie Harbour in Tasmania by no later than 31 April 2025.
Supporting statement
The growth of farmed salmon in Macquarie Harbour, reduced dissolved oxygen levels and the declining population of the Maugean Skate in the harbour is clear, with destocking of salmon farms below levels permitted by government licences deemed an urgent priority to substantially improve and sustain oxygen levels. It was recommended this was before summer of 2023/24, highlighting the urgency of the situation, however this has not happened.

Macquarie Harbour farmed salmon is a small part of the overall Tasmanian salmon industry (approximate 12% of total production). We believe Macquarie Harbour salmon accounts for a small percentage of all Woolworths Own Brand farmed salmon sold in its stores, which constitutes a small part of the company’s AUD$48 billion sales revenue from its Australian food division. The level of reputational risk the company exposes itself to from continuing to sell this product is not warranted.

We encourage Woolworths not to rely on government intervention to address this issue and to proactively reduce its exposure and contribution to a potential extinction event.

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