Green Century’s Top Highlights from 2023
We have had a terrific 2023 and have made great strides in helping protect our planet and in making the world a better place through our robust shareholder advocacy, nonprofit ownership, and environmentally responsible funds. Here are some highlights.
- Renewable energy plans for top chipmakers
Silicon chips are found everywhere these days — in computers, cell phones, cars, and other consumer and industrial products. Green Century helped convince five top chipmakers to map out their paths to cut carbon emissions. This industry-wide win included some familiar names — Intel Corporation*, Texas Instruments*, as well as NVIDIA*, Advanced Micro Devices* and ON Semiconductor*. We’re pleased these companies agreed to specify the actions and milestones they will take to reduce carbon and source more renewable energy for the health of our planet.
- Convincing insurers to move away from fossil fuels
Unfortunately, this year brought more frequent hurricanes, tornadoes, and intense storms due to climate change. Consequently, several insurance companies have stopped issuing new policies for homeowners in California and Florida because of mounting claims. We think it makes sense for them to stop offering insurance coverage to the very industry that has driven these problems. That’s why Green Century led the second year of our campaign to get insurers to stop underwriting and supporting new oil and gas projects. This year, Chubb*, one of the world’s largest insurance companies, agreed to announce it would immediately stop insuring oil and gas projects in conservation areas. This means that worldwide nature reserves, wilderness areas, and marine protected areas will be better safeguarded.
- Deforestation rates hit decades-low in Indonesia
Did you know that for decades tropical forests were destroyed for the cultivation of palm oil, which is found in products ranging from crackers, cookies, and cosmetics, and that Indonesia is the world’s largest producer of palm oil? Burning those forests eliminates habitats for orangutans, Sumatran Elephants and other wildlife while releasing tons of carbon pollution into the air.
So, it’s heartening that deforestation rates have declined steadily each year in Indonesia for the last 10 years. And in 2021, it hit a 22-year low!
For the last 10 years, Green Century has pressed companies to switch to producing, trading, buying, and changing how palm oil is grown in Indonesia to protect the environment and this year, Green Century convinced Kraft Heinz*, one of the largest food and beverage companies, to adopt the most comprehensive global forest protection policy we have ever seen from a food company.
- Met people eager to invest with their values throughout the country
Green Century traveled to events in every region of the country from Los Angeles to New York City, and wherever we went, we found individuals and financial advisors eager to invest in environmentally responsible ways. From the Land Rally in Oregon to ESG (Environmental, Social and Governance) for Impact! in Colorado, we look forward to building on the connections and conversations we experienced.
- Addressing the plastic pollution crisis
Given the global and growing crisis of plastic pollution, Green Century has redoubled its efforts to encourage companies to recycle, reuse and reduce use of plastics. This year, we engaged companies one-by-one and joined forces with major investors in the UN Global Plastics Treaty, an ambitious global effort to end the age of plastic by 2024 in a legally binding document.
Our latest win involves Costco Wholesale*, one of the largest retailers in the world. Our shareholder advocates convinced Costco to expand its plastics reduction efforts. The company committed to increased plastic footprint disclosures and creating a 5-year plastic action plan. This victory, along with the policies we have secured from 12 other companies including Keurig Dr Pepper*, will help keep plastic out of our oceans and protect wildlife.
- Our nonprofit partners helped protect nature.
Native bees will be less likely to encounter deadly pesticides thanks to new state laws spearheaded by Environment Colorado and Environment California. Together with many allies, they also secured new protections for the Boundary Waters (Minnesota), Bristol Bay (Alaska), Chaco Canyon (New Mexico) and the Grand Canyon region (Arizona). In November, voters approved an Environment Texas-backed $1 billion bond to fund the largest expansion of parks in the state history.
- Won Right to Repair victories for Chromebooks users and farmers
Green Century and nonprofit owner, Colorado Public Interest Research Group (CoPIRG) worked together on an effort that led to the Centennial State becoming the first in the nation ensuring farmers can fix their tractors and other equipment.
This victory builds on our earlier engagements with Deere & Company*, the manufacturer of the iconic
John Deere tractor and a wide array of other agriculture equipment, to reverse its opposition to the right-to-repair movement. Additionally, Green Century and CoPIRG together called on Google* to extend software on Chromebooks used by school districts and students across the nation. Green Century engagement led to the company announcing plans to continue software updates for Chromebooks for up to 10 years starting in 2024. This win means millions of serviceable laptops continued to be used instead of ending up in landfills.
- Led the Fossil Fuel Free Movement
Green Century became one of the first families of fossil fuel free mutual funds in 2014 and this April we updated our popular Fossil Fuel Free Investing Guide, co-authored this year with Green America. Get your free copy and listen to our webinar Greening Your Investments if you or your family members are interested in joining thousands of individuals and institutions, including Harvard University and the Church of England, avoid the coal, oil and gas industry in your investments.
“We must stop climate change. And we can if we used the tactics that worked in South Africa against the worst carbon emitters.”
— The late Archbishop of South Africa, Desmond Tuto
- Green Century’s president named to prestigious Barron’s List
In April, I had the honor of being named to Barron’s 100 Most Influential Women in U.S. Finance, joining the ranks of prominent women including Treasury Secretary Janice Yellen and female leaders at the Federal Reserve, International Money Fund, Alphabet, and other places. As one of the very few women recognized in the socially and environmentally responsible investing field, I am heartened that our role in championing values-aligned investing and exposing greenwashing was recognized. We’re proud to help people understand the significant differences between investing strategies and shareholder engagement that sets Green Century apart from others.
- We appreciate investors – like you!
Our top highlight is our supportive Green Century Funds investors. Our efforts to hold corporations accountable would not have happened without you.
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.
Sincerely,
Leslie Samuelrich
President
P.S. Please act today to contribute to your IRA or open an account.
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (the Funds).
The Green Century Funds are a family of fossil fuel-free, environmentally responsible mutual funds. 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, 2023, Intel Corporation comprised 0.00%, 0.78% and 0.00%; Texas Instruments, Inc. comprised 0.00%, 0.76% and 0.00%; NVIDIA comprised 1.34%, 5.62% and 0.00%; Advanced Micro Devices, Inc. comprised 0.00%, 0.87% and 0.00%; ON Semiconductor Corporation comprised 0.00%, 0.21% and 0.00%; Chubb Ltd. comprised 0.00%, 0.45% and 0.00%; The Kraft Heinz Company comprised 0.00%, 0.15% and 0.00%; Costco Wholesale Corporation comprised 1.62%, 0.00% and 0.00%; Keurig Dr. Pepper, Inc. comprised 0.00%, 0.15% and 0.00% and Deere & Company comprised 0.58%, 0.55% and 0.00% of 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.
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 visit www.greencentury.com, email info@greencentury.com, 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.
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. 1/24. UMB and Green Century are not affiliated.
