Shareholders vote to support nature

At Woolworths’ Annual General Meeting (AGM) in late October, nature had a seat at the table. Along with fellow investors including responsible investment platform SIX and a coalition of environmental advocates, Future Super supported four shareholder resolutions calling on Woolworths to take stronger action on deforestation, responsible seafood sourcing and due diligence in its supply chains. Engagement is a core strategy that Future Super’s investment manager uses to drive change from the inside and influence companies on key issues, as part of the ethical investing process applied to your super. Holding shares in a company gives us (and you) a seat at the table and a voice in that company’s decision-making. We can use this voice to push companies to improve their ESG or sustainability practices, and that’s why we supported these resolutions.   

It's fair to say that this was no ordinary AGM. Woolworths faced 4 shareholder resolutions on nature – the most by any company at an AGM. From fiery questions to landmark votes, shareholders made it clear that more accountability is needed over its supply chains. Here’s what was on the agenda.  

The fight for the Maugean skate 

At the heart of the meeting was an endangered species with a big story: the Maugean skate. Now found only in Tasmania’s Macquarie Harbour, this ancient ray is at risk of extinction. Scientists warn that the main culprit is oxygen-starved waters caused by intensive salmon farming. Without urgent change to aquaculture practices, this living fossil – which has survived since the age of the dinosaurs – could vanish within our lifetime. 

Resolution 5(b), which Future Super proudly supported, asked Woolworths to disclose the impacts of its own brand farmed seafood on endangered species, like the Maugean skate. It’s the second year this resolution has come to a vote, and support for it grew by 3.75% compared with 2024, with support rising to 34.17%. In the world of shareholder activism, this sends a strong signal to the company. Having over 20% support for a shareholder resolution is often considered to be the threshold to prompt formal company action. It means more investors are concerned about the risks that irresponsible sourcing and poor due diligence pose; not just to wildlife, but to the long-term value of supermarket chains like Woolworths. 

Due diligence is the process companies use to identify, assess, prevent, and mitigate negative impacts on human rights, the environment, and society within their own operations and supply chain. 

When shareholders speak, companies listen 

Future Super also voted for: 

• Resolution 5(c): Calling for a stronger seafood sourcing policy, aligned with a global best practice standard  

• Resolution 5(d): Asking the company to classify beef as a high-risk deforestation-linked commodity in its No Deforestation commitment  

• Resolution 5(e): Urging an update to its pulp, paper and timber Policy, to guarantee that Woolworths’ packaging and store materials aren’t contributing to deforestation. 

Each resolution targeted a critical piece of the puzzle: protecting nature from the impacts of industrial food production and distribution. 

The message from the floor was clear. Shareholders increasingly want transparency and they want action that keeps nature in business. 

A spicy AGM 

As the chair fielded questions, members of the audience applauded environmental advocates and called for clearer commitments. Deforestation was a dominant issue, amid growing public concern about land clearing for agriculture, which is contributing to Australia’s biodiversity crisis. 

Power in numbers 

As a member, you collectively own a piece of the companies shaping Australia’s economy. That ownership gives us a voice, a vote, and a platform to push corporations like Woolworths towards improved environmental responsibility. It’s a reminder that super isn’t passive. It’s power. And when used collectively, it can influence Australia’s biggest companies to do better for the planet. Woolworths’ AGM showed that shareholder voices are getting louder, bolder and more coordinated. Through your membership, you’re helping contribute to that change.