Move comes after agreement to expand reporting and transparency around pesticide use policies and practices.
Contact: Marissa LaFave, Green Century Capital Management, [email protected], 617-482-0800
BOSTON, March 15, 2018 – The Green Century Equity Fund (Green Century) has withdrawn its shareholder proposal with J.M. Smucker, which owns brands including Folgers, Pillsbury, Jif and Santa Cruz Organic, after the company agreed to provide disclosures regarding pesticide use management in its supply chain, acknowledging risks associated with public and pollinator health.
“Increased disclosure and transparency around supply chain practices are a necessary first step to expanding policies that protect public health and the environment” said Marissa LaFave, Shareholder Advocate at Green Century.
After withdrawing its shareholder proposal requesting Smucker to reduce toxic pesticide use, Green Century has kept in close communication with the company, ensuring it delivers on the set of measures it has agreed to.
Exposure to pesticide use is responsible for about 200,000 deaths every year, and has been linked to chronic illnesses such as cancer, Alzheimer’s disease and developmental disorders. The use of certain pesticides, such as the widely used and criticized insecticide neonicotinoids, has been linked to drastic declines in pollinator populations. In a 2017 report to the UN, experts concluded that the overuse of pesticides is not necessary to ensure food security.
To learn more about Green Century’s sustainable investment strategy, advocacy efforts, and how you can make an impact with the power of your investments, please visit our Why Choose Green Century webpages or call 1-800-934-7336.
About Green Century Capital Management
Green Century Capital Management is the investment advisor to the Green Century Funds and offers three environmentally and socially responsible funds, the Green Century International Index Fund, the Green Century Equity Fund, and the Green Century Balanced Fund. Green Century works to curb climate change through fossil fuel free investing, reinvestment in sustainable companies, and advocating with companies to improve their environmental policies and supply chains.
*As of December 31, 2017, The J.M. Smucker Company comprised 0.00%, 0.14%, and 0.00%, of the Green Century Balanced Fund, Green Century Equity Fund, and Green Century International Index Fund respectively. 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.
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The Green Century Funds are distributed by UMB Distribution Services, LLC. 3/18