Press Release Contact: Kyle W. Kempf, Green Century Capital Management, firstname.lastname@example.org, (617) 482-0800
BOSTON, August 27, 2018 – Green Century is calling on Darden Restaurants (NYSE: DRI) to eliminate the use of medically important antibiotics in its supply chain.
“Antibiotic-resistant bacteria represents a tremendous threat to human health and companies have an obligation to address the use of medically important antibiotics in their supply chains,” said Jared Fernandez, Shareholder Advocate at Green Century Capital Management. “Darden’s failure to institute a policy in line with its competitors exposes it to significant risks associated to changing consumer preferences, reputational damage, and strengthening regulation.”
Green Century’s shareholder proposal requests that Darden Restaurants issue a report to shareholders evaluating the feasibility of adopting a policy to eliminate the use of medically important antibiotics for disease prevention in its supply chain.
As Green Century’s briefing memo outlines, such a report would serve the long-term interests of the company and its investors, safeguard public health, and reduce the risk of Darden being positioned as an industry laggard.
Approximately 70% of medically important antibiotics in the U.S. are sold for use in livestock, often for routine use as a means of disease prevention. This overuse of antibiotics in animal agriculture makes it more likely that antibiotic-resistant bacteria will flourish and spread. These bacteria move through air, waste, water, and workers, potentially infecting people regardless of their meat consumption.
Antibiotic resistance kills 23,000 people annually in the U.S. This number is expected to rise to 300 million globally by 2050, killing more people than cancer kills today.
Green Century will present its proposal at Darden Restaurants’ September 19 shareholder meeting.
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 June 30, 2018, Darden Restaurants, Inc. comprised 0.00%, 0.00%, and 0.12% of the Green Century Green Century International Index Fund, the Green Century Balanced Fund and the Green Century Equity Fund, respectively. 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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