Kroger* to Adopt Deforestation Policy, Following Green Century Engagement
Press Release Contact: Kyle W. Kempf, Green Century Capital Management, kkempf@greencentury.com, (617) 482-0800
BOSTON, May 7, 2019 – Green Century is pleased to announce that Kroger, the largest grocery chain in the U.S., will develop and implement a no-deforestation policy. This new commitment will cover Kroger’s private label Our Brands products.
“Kroger prides itself on ‘nourishing our communities and preserving our planet’ and, as one of the largest retailers in the world, this new commitment certainly will help preserve the world’s forests,” said Green Century Shareholder Advocate Jessye Waxman. “By listening to our concerns about deforestation risks in its supply chain and agreeing to implement a no-deforestation policy, Kroger is making real progress on this important and material sustainability issue.”
“Kroger’s Zero Hunger | Zero Waste plan reflects Kroger’s commitment to help conserve the natural resources we all share,” said Lisa Zwack, Kroger’s head of sustainability. “As our current sustainability goals near their 2020 timeline, we are shaping new long-term targets that extend our zero-waste approach. We are committed to meaningful stakeholder engagement, and we appreciate Green Century’s dialogue and feedback during this process.”
In 2019, Kroger will assess its exposure to deforestation and use those findings to inform the development of its no-deforestation commitments. Moving forward, Kroger will also share progress on its commitments to address deforestation in its annual Sustainability Report, by joining the Roundtable for Sustainable Palm Oil (RSPO) and by completing the CDP Forests questionnaire.
“Kroger is a giant company with an immense supply chain, so this new commitment is a big deal,” said Green Century President Leslie Samuelrich. “I’m pleased that Kroger listened to our concerns and is committing to improving its protection of tropical forests.”
Green Century was lead on the deforestation resolution filed with Kroger, and worked with Seventh Generation Interfaith and two co-filers, the Sisters of the Presentation of the Blessed Virgin Mary and the School Sisters of Notre Dame Central Pacific Province, on the engagement.
The conversion of tropical forests to agricultural plantations is the primary cause of deforestation, which is a leading contributor to climate change. Forest destruction contributes nearly the same amount of global greenhouse-gas emissions as the entire transportation sector. Deforestation also poses a risk to the preservation of biodiversity and the maintenance of healthy ecosystems.
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About Green Century Capital Management
Green Century is the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. Green Century invests in sustainable companies, 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 March 31, 2019, Kroger Co. comprised 0.00%, 0.16%, and 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.
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