Shareholders at Safeway have rejected a proposal from the Green Century Equity Fund calling for mandatory GMO labeling on its store brands, which company bosses claim would cost more than $15 million to implement, while providing zero consumer benefits.
The GCEF notes that Safeway is “working to position itself competitively among consumers interested in all-natural and organic products” and that it “risks losing market share among this target demographic” if it fails to take the initiative on the GMO labeling issue.
However, Safeway bosses urged shareholders to vote against the “impractical” measure (which they did by a large majority; just 10 percent were in favor) and instead support voluntary labeling initiatives that highlight organic and non-GMO options for consumers.
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Read the full, original article: Safeway shareholders reject GMO labeling proposal; board says it would cost $15m+ and provide zero consumer benefits
