Press Release Contact: Kyle W. Kempf, Green Century Capital Management, email@example.com, (617) 482-0800
Boston, March 3, 2021 – Green Century° has filed a shareholder resolution with Amazon.com, Inc. (Amazon), urging the company to reduce the use of plastic, including at its sustainably-minded subsidiary Whole Foods Market* and across its extensive shipping operations.
“Amazon has set an ambitious commitment to become net zero carbon by 2040 as part of its Climate Pledge, but that pledge is silent on the company’s prodigious plastic use,” said Green Century President Leslie Samuelrich. “It is imperative that corporations, especially Amazon, start taking steps to address the staggering amount of plastic polluting our oceans and waterways.”
Although Amazon has not publicly disclosed data on its total plastic use, a recent report by the nonprofit Oceana estimated that in 2020 alone the company was responsible for 465 million pounds of plastic waste. Amazon’s plastic use is primarily attributable to the flexible plastic packaging in its e-commerce activities, which is not curbside recyclable.
Up to twelve million tons of plastic waste enter the waterways each year, 80% of which is made of flexible plastic. If current trends continue, we will see more plastic than fish in the oceans by 2050. Plastic pollution threatens the lives of marine species through accidental ingestion, entanglement, and damage to habitat.
Whole Foods received a failing grade in a 2020 As You Sow report, assessing corporate plastic policies, but even non-failing companies need to do more to reduce plastic pollution. A study by the Pew Trust determined that if all current government and industry commitments are upheld, the annual volume of plastic entering the oceans would only be reduced by 7% by 2040.
Green Century was the co-filer of the proposal, and As You Sow was the lead filer.
About Green Century Capital Management
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. Green Century Capital Management 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 December 31, 2020, Whole Foods Market, Inc. comprised 0.017%, 0.00%, and 0.00% of the 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.
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Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
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. 3/21