STATEMENT: P&G Shareholders Resoundingly Support Deforestation Shareholder Proposal
Contact: Kyle Kempf, Green Century Capital Management, email@example.com, (617) 482-0800
Boston, October 13, 2020 — Today, Procter & Gamble (P&G) shareholders overwhelming voted in support of a Green Century shareholder resolution, calling on the company to eliminate deforestation and forest degradation in its supply chain.
Green Century’s resolution received a whopping 67% of the votes cast at the company’s annual meeting. This is the highest ever vote for a deforestation proposal, receiving twice as many shareholder votes as any previous resolution filed on deforestation.
Green Century Shareholder Advocate Jessye Waxman issues the following statement:
“Procter & Gamble shareholders have sent an emphatic message to the company. P&G leadership should heed this clear call to increase its efforts to mitigate deforestation and forest degradation in the company’s supply chain.
The failure to protect old-growth forests such as the Canadian boreal and the biodiversity it contains poses systemic and material risks to P&G and its shareholder, the overall economy and society, and the environment.
As consumer preferences, social license, and the state of our environment evolve, it is imperative that companies adopt comprehensive and ambitious commitments to reduce their environmental impacts.”
- Green Century Presses Procter & Gamble* To End Deforestation and Forest Degradation in Its Supply Chain
About Green Century Capital Management
°Green Century Capital Management (Green Century) is the investment advisor to the Green Century Funds. The Green Century Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. 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 June 30, 2020, Procter & Gamble comprised 0.70%, 2.11%, and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century 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.
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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 percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. 9/20