LTP News Sharing:
Washington, D.C. — The Free Enterprise Project (FEP) of the National Center for Public Policy Research submitted a shareholder proposal to Tesla on Thursday, asking the company to issue a report on the extent to which child labor may be involved in the manufacture of the company’s electric vehicle (EV) batteries.
Even though Tesla claims that the company is investing more in human and legal resources than ever before to combat child labor in its supply lines, it has done little to provide shareholders with metrics and evidence that this project is actually coming to pass.
Stefan Padfield
“There is clearly a market for EVs, but that market has been distorted by a utopian cost-benefit analysis that ignores the critical issue of child labor,” said FEP Executive Director Stefan Padfield. “Accordingly, our proposal seeks much-needed transparency from Tesla on that issue.”
Bennett Nuss
“Child labor of the sort routinely involved in the creation of lithium-ion batteries shocks the conscience and deserves no place in modern manufacturing,” adds FEP Associate Bennett Nuss. “Our proposal signals to the Board that investors are resoundingly opposed to the use of child labor, and that they want Tesla to ensure their business plans do not exploit vulnerable populations around the globe.”
FEP plans to present this proposal to Tesla’s board at the company’s next annual shareholder meeting on November 6, where every Tesla shareholder will have the opportunity to vote on the proposal. Prior to the meeting, FEP will publish a voting scorecard for Tesla shareholders as part of its Proxy Navigator voting guide.
About
The National Center for Public Policy Research, founded in 1982, is a non-partisan, free-market, independent conservative think-tank. Ninety-four percent of its support comes from individuals, less than four percent from foundations and less than two percent from corporations. It receives over 350,000 individual contributions a year from over 60,000 active recent contributors.
FEP, the original and premier opponent of the woke takeover of American corporate life, aims to push corporations to respect their fiduciary obligations and to stay out of political and social engineering. More information about this proposal can be found in FEP’s mobile and web app, ProxyNavigator.
Contributions are tax-deductible and may be earmarked for the Free Enterprise Project. Sign up for email updates here. Follow us on X (Twitter) at @FreeEntProject and @NationalCenter for general announcements. To be alerted to upcoming media appearances by National Center staff, follow our media appearances X account at @NCPPRMedia.
Author: The National Center
