Contact: Jared Fernandez, Green Century Capital Management, email@example.com, 617-482-0800
BOSTON, April 23, 2018 –The Green Century Equity Fund (Green Century) has withdrawn its shareholder proposal with Dr Pepper Snapple after the company released its first Sustainable Agriculture Policy that will reduce the use of pesticides by the company. Dr. Pepper Snapple will work with suppliers to adopt integrated pest management (IPM) techniques and natural pest controls in agricultural production.
Dr Pepper Snapple, which owns brands such as Mott’s, Snapple, and Welch’s in addition to its carbonated beverage offerings, is a major purchaser of fruits and vegetables traditionally linked to excessive pesticide use in industrial agriculture. Neonicotinoids, a class of pesticides widely used on many of the crops sourced by Dr Pepper Snapple, have driven the decline of honeybees across the globe. Honeybees pollinate nearly three-quarters of the world’s food crops, representing a value of hundreds of billions of dollars to the economy.
Bee and apricot flowers“Bee populations are rapidly declining due to the use of neonicotinoids and policies such as this are of paramount importance for businesses reliant on pollinated crops to foster a sustainable agricultural system,” said Jared Fernandez, Shareholder Advocate with Green Century. “Dr Pepper Snapple has taken an important first step in protecting consumers, farmworkers, and wild pollinators from exposure to dangerous toxic chemicals.”
Nearly forty chemicals found in EPA approved pesticides are classified as “known, probably, or possible” carcinogens, and exposure to pesticides like glyphosate and chlorpyrifos have been linked to both childhood development problems and farmworker illness, spurring the need for businesses to act to reduce consumer exposure to potential toxins.
“Regulation to curb toxic pesticide use has lagged significantly behind the science,” said Fernandez. “With input from investors, companies are recognizing the risks facing their business and are proactively taking steps to engage suppliers in the absence of governmental action.”
With the release of its Sustainable Agriculture Policy, Dr Pepper Snapple joins companies like PepsiCo,* Sysco,* and Unilever* in seeking to reduce pesticide use through the promotion of IPM techniques within its agricultural supply chain.
The company’s policy also requires producers to meet enhanced standards for water and energy usage, soil and air health, and agrochemical and pollinator habitat management.
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 March 31, 2018, Dr Pepper Snapple Group, Inc., Sysco Corporation, Unilever NV and Unilever PLC comprised 0.00%, 0.21% and 0.00%; 0.00%, 0.28% and 0.00%; 1.59%, 0.00% and 2.37%; and 0.00%, 0.00% and 1.80% of the Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century MSCI International Index Fund respectively. No other securities mentioned were held in any of the portfolios of the Green Century Funds as of the same date. 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. 4/18