WEST SACRAMENTO, CA (September 23, 2011 – BusinessWire)—The California State Teachers' Retirement System (CalSTRS) has withdrawn its shareholder proposal at Sysco Corp. after the distributor agreed to include water risk management and sustainable agriculture in its new sustainability initiative. Sysco also agreed to respond to the Carbon Disclosure Project water survey in 2013 and to meet with CalSTRS to provide updates on their sustainability initiative's progress. Sysco will develop clear and transparent sustainability management strategies and take appropriate actions that support it.
"Companies that report on environmental, social and governmental practices are more responsive to the global business environment, allowing them to realize value from these efforts," said Jack Ehnes, CalSTRS chief executive officer. "Transparency about water risk and other sustainability issues is important as it is a significant risk facing investors."
The CDP Water Disclosure sends a questionnaire to approximately 300 of the world's largest corporations in water-intensive sectors, including chemicals, Fast Moving Consumer Goods (FMCG's), food and beverage, mining, paper and forest products, pharmaceuticals, power generation and semiconductor manufacturing. The questionnaire asks companies to measure and disclose information on water usage, the risks and opportunities in their own operations and their supply chains as well as water management and improvement plans.