Tesco’s recent AGM in Birmingham attracted its share of campaigners as usual, but the unusual antics of some were outweighed comfortably by the good sense of ordinary shareholders, many attending for the first time.

Interesting issues were discussed. For instance, the debate on animal welfare brought home the tremendous differences in price between the value chicken that complies with good, ordinary welfare standards and the celebrity chicken endorsed by the likes of Hugh Fearnley-Whittingstall.

With consumers’ budgets squeezed by record hikes in petrol and utility prices, and food inflation driven from around the world, is this the moment to force a new cost level on the mainstream poultry industry and, hence, onto poorer consumers?

Or take, for example, the representations from a US union about our Fresh & Easy launch on the West Coast. These allowed us to spotlight the fantastic consumer feedback so far, the care we have taken to train and reward our new employees and the fact that individuals are able to join a union.

And our international strategy was highlighted. How many knew that 60 per cent of our space is overseas and that we make more profits there than we made 10 years ago in the UK?

We have been working on how to enter the US for 20 years. It’s a huge market with discerning consumers and a spirit of enterprise. Throughout its history, the US has produced top-rate politicians. The forthcoming presidential elections make the coming months particularly interesting: which issues will affect us in the UK?

A key battleground will be trade – important if global prosperity is to continue, not least amid the credit crunch. There are worries. For example, there may be post-election attempts to inject regulation of labour standards into international agreements, which, however well-meaning, may not be in the best interests of the UK.

Whoever wins, the US political establishment is likely to be more receptive to green issues – we would welcome this. States and corporations cannot act alone – there needs to be agreement on climate change next year at Copenhagen and we need carrots as well as sticks.

At Tesco, we have an ambitious programme designed to do our bit for the environment by working with the grain of human nature. For example, we have a target of halving our CO2 emissions worldwide by 2020. We hope others can match our commitment.

Tax policy will be a key issue at the election. The thinking among Barack Obama’s Democratic Party appears to be geared increasingly towards taxing companies and higher earners to help pay for extra spending, notably on healthcare. Republican candidate John McCain has been talking about suspending petrol taxes to help hard-pressed consumers cope with the cost of gas – not very green. Our government faces the same dilemma.

They say that when the US sneezes, the UK catches cold. I’d go further and say that the election result could influence the future health of our planet.

Lucy Neville-Rolfe, executive director, corporate and legal affairs,Tesco

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