Nearly One-Third of Dr Pepper Snapple’s* Shareholders Support Proposal to Reduce Pesticide Use and Increase Transparency
Press Release Contact: Marissa LaFave, Green Century Capital Management
PLANO, TX, June 6, 2017 – Thirty-one percent of Dr Pepper Snapple Group’s shareholders supported Green Century’s proposal asking the company to manage, reduce, and disclose pesticide use in its supply chain, according to vote results released at the company’s annual meeting last month. This vote exceeds the average vote for environment-related shareholder proposals by about ten percent, reflecting substantial shareholder concern.
Evidence that pesticide exposure is harmful to public health and pollinator communities is building, posing risks to companies with supply chains that depend on the use of pesticides.
Dr Pepper Snapple sources fruits and other crops that are often grown using pesticides for its key brands, including Mott’s, Snapple, Nantucket Nectars, and Bai. Yet the company does not disclose any policies or procedures that it has in place to address environmental issues in the agricultural supply chain, including the management and reduction of pesticide use.
“Consumers are caring more and more about food quality and safety, and how their food is grown,” said Marissa LaFave, Shareholder Advocate at Green Century. “This vote sends a signal to management that it is time for the company to act to protect public health, pollinators, and shareholder value. It’s no longer a niche concern.”
Several other companies are facing similar pressure from investors this year to better manage pesticide risks in their supply chains.
According to Consumer Reports, 89 percent of Americans think it is critical to protect the environment from chemicals such as pesticides, and 85 percent are concerned about pesticide exposure in food.. Major industry players, including Sysco,* General Mills,* Unilever,* and Whole Foods,* have taken significant steps to reduce pesticide use and improve disclosure.
A number of U.S. states and cities have banned or restricted the use of particularly harmful pesticides, namely neonicotinoids, which are linked to collapses in pollinator populations.
To learn more about Green Century’s sustainable investment strategy, advocacy efforts, and how you can make an impact with the power of your investments, please visit our website or call 1-800-934-7336.
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 March 31, 2017, Dr Pepper Snapple Group, Inc. comprised 0.00%, 0.21%, and 0.00%; Sysco Corporation comprised 0.00%, 0.31%, and 0.00%; General Mills, Inc. comprised 0.01%, 0.41%, and 0.00%; Unilever NV American Depository Receipt comprised 1.47%, 0.00%, and 0.00%; Unilever NV comprised 0.00%, 0.00%, and 2.29%; Unilever PLC comprised 0.00%, 0.00%, and 1.81%; and Whole Foods Market, Inc. comprised 0.75%, 0.11%, and 0.00% of the Green Century Balanced Fund, Green Century Equity Fund, and Green Century 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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The Green Century Funds are distributed by UMB Distribution Services, LLC. 6/17