Still, some people involved in the proposals express caution. “We need to be realistic about the outcomes, especially at companies like Alphabet and Meta which have ‘dual class’ shares that give the company founders and other insiders powerful voting rights that make shareholder initiatives extremely challenging,” said Michael Connor, Director at Open MIC, a nonprofit which campaigns for corporate accountability in media and tech.
Open MIC is supporting a shareholder proposal at Meta that questions the company’s ”social licence to operate an emerging technology like the metaverse”. The resolution, which was filed by Arjuna Capital, calls for a third-party assessment of potential psychological, civil and human rights harms to users. The filers argue the potential risks and negative impacts of the metaverse are not yet fully understood.