share_log

PX14A6G: Notice of exempt solicitation

SEC announcement ·  May 2 01:21
Summary by Futu AI
Shareholders of Alphabet Inc. are urged to vote for Proposal Number 13, which calls for an independent third-party Human Rights Impact Assessment (HRIA) of Google's AI-driven targeted advertising policies and practices. The proposal, to be considered at the June 7, 2024 shareholder meeting, highlights concerns over potential human rights risks associated with Alphabet's advertising practices, which significantly contribute to the company's revenue. Despite previous engagement and a similar proposal in 2022 that garnered 47.30% support from Class A shareholders, Alphabet has not indicated plans to implement the assessment. The proposal emphasizes the need for transparency and due diligence in line with Alphabet's commitment to the UN Guiding Principles on Business and Human Rights (UNGPs) and the growing regulatory scrutiny...Show More
Shareholders of Alphabet Inc. are urged to vote for Proposal Number 13, which calls for an independent third-party Human Rights Impact Assessment (HRIA) of Google's AI-driven targeted advertising policies and practices. The proposal, to be considered at the June 7, 2024 shareholder meeting, highlights concerns over potential human rights risks associated with Alphabet's advertising practices, which significantly contribute to the company's revenue. Despite previous engagement and a similar proposal in 2022 that garnered 47.30% support from Class A shareholders, Alphabet has not indicated plans to implement the assessment. The proposal emphasizes the need for transparency and due diligence in line with Alphabet's commitment to the UN Guiding Principles on Business and Human Rights (UNGPs) and the growing regulatory scrutiny in the U.S. and EU over privacy and data protection. The Proponents, including The United Church of Canada Pension Plan represented by SHARE, CommonSpirit Health, and Mercy Investments, highlight the material risks to shareholders from non-compliance with human rights standards, including regulatory, legal, and reputational risks. They argue that an HRIA is necessary to manage these risks and protect long-term shareholder value.

This announcement is a separate document:

Doc 1

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