Press Release Contact: Andrea Ranger, Green Century Capital Management, firstname.lastname@example.org, (617) 482-0800
Boston, March 25, 2021 – Duke Realty, which develops and manages distribution warehouses for high-profile clients like Amazon,* Home Depot,* and UPS,* has agreed to adopt science-based emissions targets that align with the Paris Climate Agreement. The company also agreed to join the Science Based Targets Initiative, a global effort run by renowned environmental organizations aimed at reining in climate change.
“Duke Realty realizes that they can’t just shelve the risks of climate change and hope they go away,” said Green Century° President Leslie Samuelrich. “More and more companies are looking at their supply chain emissions, and Duke Realty is part of a lot of supply chains. You don’t want to be that weak link in the chain.”
The typical consumer company’s supply chain creates far greater greenhouse gas emissions than its own operations, accounting for more than 80% of its carbon footprint. Retailers like Walmart,* Target,* and Amazon,* all Duke Realty customers, have set ambitious goals to reduce their Scope 3 (i.e. supply chain) emissions.
“The more the company can help their current and future customers meet their climate goals, the better,” said Green Century Shareholder Advocate, Andrea Ranger. “Strong goals are good for investors, customers, and the planet, and we don’t have a moment to waste.”
Given the imperative of convincing companies across all sectors to reduce their emissions, Green Century is examining the carbon footprint of industries not commonly associated with the climate crisis and pressing them to reduce emissions, source renewable energy, and increase energy efficiency.
Prior to Green Century’s engagement, Duke Realty had adopted green building standards, but did not have any short- or long-term public greenhouse gas reduction targets.
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, Duke Realty comprised 0.00%, 0.09%, and 0.00%, Amazon comprised 0.00%, 0.00%, and 0.00%, Home Depot comprised 1.10%, 1.67%, and 0.00%, UPS comprised 0.00%, 0.00%, and 0.00%, Walmart comprised 0.00%, 0.00%, and 0.00%, and Target comprised 0.98%, 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