11.6% of Independent Tyson Shareholders Support Green Century Deforestation Proposal
Media Contacts:
Pam Podger, ppodger@greencentury.com, 802-299-9495; Annie Sanders, asanders@greencentury.com, 773-272-6691
Boston, February 14, 2024 – A noteworthy 11.6% of independent Tyson Foods* shareholders voted in favor of a Green Century° shareholder proposal urging the company to eliminate deforestation from its supply chains by 2025. Independent shareholders include all shares that are not held by Tyson Limited Partnership or Tyson’s directors or executive officers.
“Independent shareholders have sent a strong message that Tyson can’t put deforestation on the back burner,” said Leslie Samuelrich, president of Green Century. “Tyson should step up to the plate and make sure its meat doesn’t come with a side of forest destruction.”
The pace of deforestation broke records in 2023 in the Brazilian Cerrado, the world’s most biologically rich savanna, surging by nearly 45% since 2022. To produce its extensive line of meat products, Tyson Foods buys ingredients from countries around the world, including from high-risk regions such as Brazil where cattle ranching is the largest driver of deforestation.
Tyson’s Deforestation Goals Fall Short
Tyson aims to achieve a deforestation-free beef supply chain by the end of 2028 and to eliminate deforestation in its soy and palm oil supply chains by 2030. These goals fall 3-5 years short of recommendations from standard-setting bodies that have concluded that companies can’t hit their climate targets without eliminating deforestation by 2025.
Tyson also lags peers including Hormel Foods* and Conagra*, both of which recently pledged to be deforestation-free by 2025.
“This vote demonstrates a growing understanding among investors that deforestation in Tyson’s supply chain exposes the company to material risks,” said Annie Sanders, director of shareholder advocacy at Green Century. “We urge the company to take investor concern seriously and accelerate progress toward zero-deforestation.”
The Tyson family’s control of Class B shares means it holds up to 70% of the voting rights at the company. The support from independent shareholders is approximate and was calculated under the assumption that Tyson insiders, Tyson Limited Partnership, Tyson’s directors, and executive officers voted against the proposal.
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About Green Century
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. Green Century hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of 12.31.2023, Hormel Foods comprised 0.00%, 0.04%, and 0.00% and Conagra comprised 0.00%, 0.06%, and 0.00% of Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Green Century Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.greencentury.com, email info@greencentury.com, or call 1-800-934-7336. Please read the Prospectus carefully before investing.
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This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. February/2024
