Contact: Kyle W. Kempf, Green Century Capital Management, email@example.com, 617-482-0800
Boston, November 14, 2018 – Green Century Capital Management applauds Starbucks Corporation for fulfilling its commitment – two years ahead of schedule – to only serve chicken and turkey raised without the use of antibiotics in all of its U.S. company-operated stores.
“The early realization of this goal is confirmation that Starbuck’s reputation as a corporate sustainability leader is well deserved,” stated Leslie Samuelrich, president of Green Century Capital Management (Green Century). “Starbucks listened to its consumers, addressed the concerns of its investors, and helped protect public health in one fell swoop.”
In 2017, Green Century raised its concerns about the reputational and business risks associated with purchasing poultry unnecessarily exposed to medically important antibiotics in meetings with Starbucks executives. Soon after, Starbucks publicly committed to implementing a responsible antibiotic policy for its poultry supply chain by 2020.
The original commitment by Starbucks sought to eliminate the use of medically important antibiotics for disease prevention within the company’s poultry supply chain, but Starbucks has exceeded that goal by working with suppliers to source poultry raised without antibiotics.
“Starbucks ability to cover its poultry supply faster than expected illustrates both its willingness to respond to investor and consumer concerns and the rapid transformation currently underway in the poultry industry to address this growing public health threat,” said Green Century Shareholder Advocate Jared Fernandez. “Producers and buyers are quickly realizing that the routine use of these drugs can be entirely avoided with small improvements in animal husbandry practices.”
In response to investor and consumer concerns, a growing number of companies, including McDonald’s,* Subway,* Jack in the Box,* and KFC* have adopted policies to eliminate the use of medically important antibiotics in their poultry or overall meat supply chains.
An estimated 70 percent of antibiotics used in modern human medicine are sold for use in meat and dairy production and leading experts attribute the misuse of antibiotics in food-animal production as a major contributor to antibiotic resistance in humans.
About Green Century Capital Management
Green Century offers three environmentally and socially responsible mutual funds. Through fossil fuel free investing and our three-pronged approach of sustainable investing, active shareholder advocacy, and support of environmental and public health non-profits we work to curb climate change, improve environmental policies, and limit environmental impacts of company supply chains.
*As of September 30, 2018, Starbucks Corporation, McDonald’s Corporation, and Jack in the Box, Inc. comprised 1.97%, 0.69%, and 0.00%, 0.00%, 1.16%, and 0.00%, and 0.00%, 0.02%, and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century International Index Fund, respectively. Other securities mentioned were not held in the portfolios as of September 30, 2018. 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.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email firstname.lastname@example.org, 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 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. 11/18