Green Century Applauds Aramark* for Prompt Progress on Deforestation
Press Release Contact: Kyle W. Kempf, Green Century Capital Management, kkempf@greencentury.com, (617) 482-0800
Boston, November 18, 2020 – Green Century° commends Aramark Corporation (Aramark), one of the world’s largest food service providers, for quickly making progress on its no-deforestation commitment. Within less than a year of establishing its no-deforestation policy, Aramark is sourcing 100% of its soy oils, 99% of its palm oil, and 60% of its beef deforestation-free.
“Aramark is a great example of the power of shareholder advocacy,” said Leslie Samuelrich, president of Green Century Capital Management. “Aramark was extremely receptive to our concerns about its lack of a deforestation policy and has moved swiftly to enact meaningful changes in it supply chain. We are looking forward to seeing continued progress from the company as it works toward its 2025 commitment.”
Green century collaborated with Aramark, which serves nearly 2 billion meals each year, on the development of its No-Deforestation policy, after withdrawing a shareholder resolution on forest-related risk in 2019.
The deforestation policy Aramark adopted addresses “No Deforestation, No Peat, No Exploitation” (NDPE) sourcing practices, including legal deforestation, across its entire global supply chain, including paper products.
The rearing of cattle and the production of soy, which is predominantly used as feed for poultry and livestock, are leading drivers of tropical deforestation. Deforestation is responsible for approximately 10% of global anthropogenic emissions. In addition to exacerbating the climate crisis, deforestation drives biodiversity loss, undermines the maintenance of healthy ecosystems, and plays an active role in the spread of infectious diseases.
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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 September 30, 2020, Aramark Corporation comprised 0.00%, 0.04%, 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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