Friends Fiduciary Seeks Support for its Proposal on Eliminating HFCs at KrogerMay 23, 2022
Friends Fiduciary has filed a shareholder proposal at Kroger, one of the largest grocery chains in the United States, on the company’s continued use of potent greenhouse gases called hydrofluorocarbons (HFCs). HFCs are used in refrigeration systems and have a high global warming potential (GWP) and are thousands of times more potent than CO2. Despite there being alternative lower GWP refrigerants, Kroger continues to lag peers in phasing out the use of HFCs and transitioning to less harmful refrigerants, which would also aid Kroger in reaching its overall GHG emission reduction targets. In a letter to shareholders FFC explains our concerns and the business case for supporting this proposal at Kroger.
The institutional proxy service, ISS, has recommended support for the proposal. Here is their analysis.