Company Spotlight: Intuit*
As the first family of fossil fuel free, diversified and responsible mutual funds in the United States, Green Century has long supported the necessary transition to clean, renewable energy through its investments.
While these investments can be straightforward – Vestas Wind Systems,* Tesla,* etc. – you may be surprised by some of the novel steps other companies in our funds are taking to achieve a more sustainable future.
Take Intuit, the creator of financial assistance products like TurboTax, Quickbooks, and Mint.
Founded in 1983, Intuit has emerged as a global leader in corporate renewable energy sourcing and emissions reduction.
In 2015, Intuit achieved carbon neutrality throughout its entire global operations by improving energy efficiency, investing in renewable energy and purchasing carbon offsets. For Intuit, this progress isn’t enough. The company’s commitment towards advancing their sustainability can be summed up by their own words: “Doing less bad just won’t do.”
That’s why Intuit has set ambitious goals to reduce its carbon footprint by 50% by 2025 and become 100% powered by renewable energy by 2030.
And Intuit’s efforts to reduce reliance on fossil fuels don’t stop at the operational level. The company is also working to help expand access to clean energy to its customers too.
Intuit recently introduced its Purely Green Program, an innovative opportunity for the company’s customers, employees, and business partners in Texas to source wind energy at prices at or below market rates for traditional power derived from fossil fuels.
The initiative enables businesses that have made commitments to reduce carbon emissions to leverage Intuit’s larger power purchase agreement (PPA) for renewables.
PPA contracts enable businesses to source wind or solar energy directly from large renewable projects, eliminating the need for upfront investment while locking in prices for 10 to 20 years at rates generally lower than traditional utilities.
Although Intuit’s Purely Green Program is currently only available to businesses and residents of Texas, the company is hopeful that the concept will take off and it will be able to bring the program to other states.
Intuit is just one of the many industry leaders helping to guide our economy towards a fossil fuel free future in the Green Century Equity Fund.
You can see a complete list of holdings in the Equity Fund, learn more about our investment strategy, and see the performance of the Equity Fund on the Fund’s page, or by calling 1-800-934-7336.
*As of June 30, 2018, Intuit, Inc. comprised 0.00%, 0.47%, and 0.00%, Vestas Wind Systems A/S comprised 0.00%, 0.00%, and 0.35%; and Tesla Motors, Inc. comprised 0.00%, 0.41%, and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century MSCI 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 of a security by the Funds, their administrator, or the distributor.
You should carefully consider the Funds’ investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here for more information, email info@greencentury.com, or call 1-800-934-7336. Please read the Prospectus carefully before investing.
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 publication and are those of the Advisor to the Fund.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. 9/18
