Coke Shareholders Reject Bid to Rid Cans of BPA

Coca-Cola Co. shareholders have rejected a resolution to pressure the world’s largest beverage company to stop using the controversial chemical BPA, or bisphenol A, in soda can linings.

The resolution went down to defeat by a vote of 74 percent to 26 percent. But proponents are encouraged that the support was up from 22 percent for a nearly identical measure last year.

“We now represent one out of four, so clearly we’re getting more support from shareholders and this is mainstream support,” said Michael Passoff of As You Sow, a shareholder advocacy organization that introduced the resolution with various investment firms, Postmedia News of Canada reports.

BPA, which is widely used in plastics and in food and beverage containers, has become a growing health concern, with researchers linking it to problems ranging from breast and prostate cancer to infertility and obesity. It is being investigated by U.S. health authorities and, in October, the Canadian government declared BPA a toxic substance.

The Coke shareholder proposal asked the company to issue a report on how it is responding to public concerns about the safety of BPA and to outline a plan to develop alternatives to the chemical.

Still, Coke’s chief executive, Muhtar Kent, said that he had no doubt “about the safety of our packaging.” Speaking to shareholders at the company’s annual meeting Wednesday in Atlanta, Kent also said, “We have provided as much information as we can without divulging propriety information, competitive information.”

BPA guards against contaminants and extends a product’s shelf life. A Coke spokesman told the Los Angeles Times that it is the industry standard for the linings of aluminum and steel food and beverage containers.

But a Georgia lawmaker who has introduced a bill to ban the use of BPA in infant formula and baby food packaging has called on Coke to “act in the interests of all their consumers by considering safer alternatives to BPA.”

Related Post:
Shareholder Activists Pushing Coke to Rid Cans of BPA

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