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  "documentTitle": "McDonald's Corporation (MCD)",
  "authorId": "14_Icahn",
  "authorName": "Carl C. Icahn",
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  "presentationDate": "2022-05-01 00:00:00",
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      "text": "THE TRAIN HAS LEFT THE STATION ON ESG AND MCDONALD'S WILL BE LEFT BEHIND IF IT DOES NOT MOVE QUICKLY",
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      "text": "Countries around the world have formally recognized animals as sentient creatures and are developing more robust legislative and oversight measures to enhance the policies that protect them. U.S. legislation, including Proposition 12, H.R. 7004 and H.R. 4421, has been introduced to reflect the public's desire to see an end to farm animal confinement. The EU is reportedly close to banning cages for farmed animals in the next five years. We believe consumers are becoming highly educated on ESG issues, including potentially deceptive marketing tactics, responsible food sourcing, workers' rights, public health, animal welfare and more. A November 2018 survey conducted by YouGov reported that 63% of Americans said that they would be less likely to buy meat processed by companies that have a bad reputation for animal welfare. In a 2018 survey by World Animal Protection, 80% of U.S. consumers said they were concerned after seeing the realities of commercial farming and 89% said supermarkets have a responsibility to source pork from higher welfare standards. In a 2017 survey conducted by Mercy for Animals, 78% of consumers supported improving the lives of chickens even if it increased the cost of meat. Nearly one in four (24%) of respondents in a 2012 Whole Foods consumer survey said they were willing to pay more for meat from animals raised under humane animal husbandry standards.",
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      "text": "We believe a major ESG reckoning is underway in the food and restaurant industry, as evidenced by recent legislation, customer surveys and global organization efforts",
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