H&M shareholders reject ‘living wage fund’

STOCKHOLM – H&M shareholders have not surprisingly rejected a resolution submitted by Clean Clothes Campaign which called on profits made by retail giant in 2018 to go into a special living wage fund. The resolution, voted on at the company’s AGM, would have seen a fund remain in place until workers’ wages were “at least at the level of a living wage. Clean Clothes had purchased five shares and then submitted a shareholder proposal that was placed on the official agenda of this year’s AGM. “We registered attendance and sent three delegates,” Neva Nahtigal from Clean Clothes told Apparel Insider. “One of them presented our resolution, in Swedish, and then those present voiced support or rejection but without a clear count.”