Company agrees to undertake a companywide sustainability assessment and publicly report conclusions.
Contact: Marissa LaFave, Green Century Capital Management, [email protected], 617-482-0800
BOSTON, January 31, 2017 – The Green Century Equity Fund (Green Century) has withdrawn its shareholder proposal regarding renewable energy sourcing with The Western Union Company (Western Union), a leading financial services company, after a productive dialogue.
The company has agreed to undertake a study to gather and assess data on its companywide sustainability practices and to publicly report on its efforts.
“As a company with a worldwide presence, Western Union has a unique opportunity to take the lead in its industry and demonstrate its commitment to building a better world,” said Marissa LaFave, Shareholder Advocate at Green Century. “Understanding and expanding its sustainability efforts are strong first steps.”
Incorporating sustainability goals into company strategies and operations is a critical step in mitigating business risk, strengthening brand reputation, and helping contribute to a more sustainable future.
In 2015, 196 parties at the UN Climate Change Conference agreed to limit climate change to an average global warming of 2 degrees Celsius. Experts estimate that to reach this goal, the U.S. must reduce annual greenhouse gas emissions by 80 percent by the middle of this century.
In response, companies have taken steps to limit their contribution to global climate change as part of their sustainability efforts. In fact, nearly half of Fortune 500 companies have at least one climate or renewable energy target, and over 100 companies have committed to powering their businesses with 100 percent renewable energy, including Google,* Apple,* and Bank of America.*
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 December 31, 2017, The Western Union Company comprised 0.00%, 0.08%, and 0.00%; Alphabet, Inc. comprised 2.77%, 6.19%, 0.00%; Apple Inc. comprised 2.69%, 0.00%, 0.00%; and Bank of America comprised 0.73%, 0.00%, 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund and the Green Century MSCI International Index 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.
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 risks including interest rate, credit, and inflation. The Funds’ environmental criteria limit the investments available to the Funds compared to mutual funds that do not use environmental criteria.
You should carefully consider the Funds’ 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 [email protected], or call 1-800-934-7336. Please read the Prospectus carefully before investing.
This information has been prepared from sources believed reliable. The views expressed are as of the date of this writing and are those of the Advisor to the Green Century Funds.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 2/18