Tesla Shareholders Vote No on Deep Sea Mining Moratorium
At Tesla’s latest shareholder meeting, investors in the electric car company spurned an activist proposal to limit the use of minerals pulled from the seabed.
Visitors inspect a Tesla Inc. Cybertruck during the Cyber Odyssey tour in Madrid, Spain in May 2024.
Photographer: Magda Gibelli/BloombergTesla Inc. investors agreed to Elon Musk’s $56 billion pay package on Thursday, but declined to agree to a moratorium on sourcing electric vehicle battery metals from deep sea ecosystems.
Activist investors had pushed the carmaker to join other industry leaders in considering the impacts of deep sea mining at its annual shareholder meeting. As You Sow — a nonprofit promoting corporate social responsibility — filed a proposal in December asking shareholders to impose a moratorium on sourcing minerals from deep seabeds. “We are seeing Tesla, the face of the EV transition, as a laggard,” said Elizabeth Levy, the nonprofit’s biodiversity program coordinator.