McDonald’s Gets a Warning From New York’s Pension Fund Over Chickens
The third-biggest public retirement fund in America owns more than $300 million of the fast-food chain’s stock.
McDonald’s Corp. has long been on the receiving end of calls to take better care of its chickens. Earlier this month, actors and musicians, including Kristen Bell, Joan Jett and Weird Al Yankovic, have lent their names to demands for more humane treatment.
Now there’s a new name on that list, and it carries a lot more weight. In a letter dated Aug. 22, 2018 and obtained by Bloomberg News, New York State Comptroller Thomas P. DiNapoli expressed concerns over the “potential financial and reputational risks associated with McDonald’s chicken welfare practices.” DiNapoli was writing in his capacity as trustee of the New York State Common Retirement Fund, the third-largest public pension fund in the U.S. and—as of July 31—holder of more than $300 million in McDonald’s stock.