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Monsanto Company Proxy Item No. 5: Shareowner Proposal

Posted: December 13th, 2012 | Filed under: Research | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |
Proxy Item No. 5: Shareowner Proposal – Pages 74-76 of Monsanto Company’s Schedule 14A Form

This proposal was submitted by Harrington Investments, Inc., 1001 2nd Street, Suite 325, Napa, CA 94559, as lead proponent of a filing group. The proposal has been carefully considered by the board of directors, which has concluded that its adoption would not be in the best interests of the company or its shareowners. For the reasons stated after the proposal, the board recommends a vote “Against” the shareowner proposal.

The proposal and supporting statement are presented as received from the shareowner proponents in accordance with the rules of the Securities and Exchange Commission, and the board of directors and the company disclaim any responsibility for its content. We will furnish, orally or in writing as requested, the name, address and claimed share ownership position of the proponents of this shareowner proposal promptly upon written or oral request directed to the company’s Secretary.

Information regarding the inclusion of proposals in Monsanto’s proxy statement can be found on page 77 under Shareowner Proposals for 2014 Annual Meeting.


Shareowner Statement

Whereas:

The labeling of genetically modified organisms (GMOs) is an increasing matter of concern among state legislators across the United States;

Whereas:

Vermont, Alaska, Maine and Nebraska have passed laws requiring labeling of GMOs and at least fifteen states have offered legislation that would require similar labeling;

Whereas:

The biological and physical movement of material derived from genetically engineered crops is difficult and sometimes impossible to control or recall;

Whereas:

Many domestic and global food markets demand foods with zero or near-zero levels of material derived from genetically modified organisms;

Whereas:

Genetically modified crops have been found to contaminate conventional (non-GMO) and organic farms, threatening farmers’ livelihoods, and affecting critical food supply, and imposing a significant financial burden on farmers seeking to satisfy markets for GMO-free products;

RESOLVED: The Monsanto board shall prepare a report, at reasonable expense and omitting proprietary information, assessing any material financial risks or operational potential impacts on the Company with:

  • Seed contamination, including costs of seed replacement, crop and production losses and clean up, decontamination and continued testing of affected seeds;
  • Ongoing buffer zone control, including production acreage losses and on-going maintenance required to secure or maintain access to contamination-sensitive markets;
  • Crop, production, and post-harvest losses and associated costs of market rejections, including temporary or permanent market losses resulting from GMO contamination;
  • Loss of organic or other third-party certification due to GMO contamination and any costs associated with additional record-keeping, testing or surveillance required to regain certification or retain certification on impacted operations;
  • Well water testing and/or groundwater cleanup contamination if found;
  • Removal and destruction of contaminated GMO plants;
  • Pollinator losses and related damages, e.g. to non-target organisms;
  • Soil contamination and on-going related mitigation and remediation costs; and
  • Damage to farmers’ reputation, livelihood, and standing in the community.

The report shall also discuss the impact of such a policy regarding such iss