News From Green Century Capital Management
11/6/2008 >> Green Century Challenges U.S. Corporations to Improve Environmental Performance
Green Century Capital Management, Inc. (Green Century), a Boston-based environmentally responsible investment advisor, announces its 2008-2009 shareholder advocacy program. Green Century will engage over 25 companies during the coming year, encouraging these companies to become environmental leaders and decrease shareholder risk by improving their policies and practices related to environmental stewardship and public health. From climate change to toxics in products to corporate political contributions, Green Century will address the most pressing environmental issues of the day with high-profile corporations across the country.
Since its founding in 1991, Green Century has challenged over 100 major U.S. corporations to become environmental leaders of the future by addressing their ecological footprints and doing their part to ensure a sustainable, healthy planet. Green Century strongly believes that shareholder value is increased when a company takes positions of environmental leadership and reduces possible environmental risk. Green Century works with companies through the powerful shareholder engagement process, involving many stages of dialogue with corporate management and often concluding with shareholder resolutions on proxy ballots.
During the 2008-2009 shareholder engagement season, Green Century will focus on the following urgent environmental issues:
• Climate change and energy: Green Century will continue its engagement with Chevron* on the company's harmful developments in the Canadian oil sands. Green Century filed a resolution with the company last year requesting a report on the environmental damage resulting from Chevron's Canadian oil sands operations. This resolution garnered 28.6%** of the total shares voted. This year Green Century organized a coalition of over 20 international investors requesting a meeting with top executives to discuss the issue.
• Wilderness preservation and biodiversity: Green Century maintains its long held conviction that oil and gas development must be kept out of the Arctic National Wildlife Refuge (ANWR) and other sensitive natural areas. Green Century will file resolutions at ExxonMobil* and ConocoPhillips* to discourage the companies from entering ANWR.
• Toxics and human health: Green Century will engage over 15 chemical, manufacturing, and packaged food companies on the presence of bisphenol A (BPA), a potentially toxic and dangerous chemical used in plastics and canned foods, in their products. Green Century successfully engaged Whole Foods Market, Inc.* on BPA in 2006, resulting in the company's removal of baby bottles containing the chemical from its shelves. This shift subsequently shaped the baby bottle market. As part of its broad strategy, Green Century will work with a coalition including the Investor Environmental Health Network, As You Sow Foundation, and others to develop a BPA scorecard of packaged food companies.
• Corporate political giving: In conjunction with the Center for Political Accountability, Green Century will take the lead in asking eight major U.S. corporations, including three energy companies, to disclose their political contributions to trade associations that may lobby against climate change solutions.
• Sustainability: Green Century co-filed a shareholder resolution asking Apple, Inc.* to produce a sustainability report for public analysis.
"Shareholder advocacy has been a critical foundation for our success in changing corporate environmental behavior," states Kristina Curtis, Senior Vice President of Green Century. "This year we expect to win even more victories and tackle the most urgent environmental problems of our time."
Green Century engages with companies along a broad spectrum of environmental performance toward the goal of improved environmental sustainability and a healthier planet for us all. Many of the companies that the Green Century Funds (the Funds) invest in and which meet the Funds' standards for environmental responsibility have room for improvement. Companies that do not meet the Funds' standards are probably the most in need of improved environmental behavior. In these cases Green Century Capital Management itself, the Funds' advisor and administrator, buys shares in a company to allow it to advocate for improved environmental practices. One company at a time, Green Century is working to improve our world.
For more information on Green Century's shareholder engagement plans, contact Emily Stone, Green Century's Shareholder Advocate at 1-800-93-GREEN or estone@greencentury.com
*As of September 30, 2008, neither of the Green Century Funds was invested in Chevron Corporation, ExxonMobil, or ConocoPhillips. As of September 30, 2008, Whole Foods Market, Inc. comprised 0.00% and Apple Inc. comprised 0.73% of the Green Century Balanced Fund. As of September 30, 2008, Whole Foods Market, Inc. comprised 0.05% and Apple Inc. comprised 1.91% of the Green Century Equity Fund. Portfolio composition will change due to ongoing management of the Funds. Please refer to the Green Century Funds website for current information regarding the Funds' portfolio holdings. These holdings are subject to risk as described in the Funds' prospectus. References to specific investments should not be construed as a recommendation of the securities by the Funds, their administrator, or their distributor.
** Calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation.
You should consider the Funds' investment objectives, risks, charges, and expenses carefully before investing. For a prospectus that contains this and other information about the Funds, call 1-800-93-GREEN, visit www.greencentury.com or email info@greencentury.com. Please read the prospectus carefully before investing.
Distributed by UMB Distribution Services, LLC 11/08
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