NLPC is the sponsor of a shareholder proposal that asks PepsiCo to report on its lobbying priorities. Here are my remarks today at the PepsiCo annual meeting in Plano, Texas:
I regret that PepsiCo opposes this resolution asking for a report on the company’s lobbying priorities. I would think that management would welcome the opportunity to explain its priorities.
PepsiCo is a member of the U.S. Climate Action Partnership a coalition of corporations and environmental groups. USCAP’s mission is to “quickly enact strong national legislation to require significant reductions in greenhouse gas emissions.” The House of Representatives has obliged in the form of the Waxman-Markey bill. According to the Heritage Foundation, this bill would destroy over 1.1 million jobs, hike electricity rates 90 percent, and reduce the U.S. gross domestic product by nearly $10 trillion over the next 25 years.