Shareholders Support ADM’s* No-Deforestation Commitment at Annual Shareholder Meeting
Contact: Lucia von Reusner, Green Century Capital Management, 617-482-0800, firstname.lastname@example.org
May 7, 2015: After working closely with Archer Daniels Midland (ADM) to develop its precedent setting no-deforestation sourcing commitment, Green Century Capital Management will attend ADM’s annual shareholder meeting today to support the company as it officially announces its new policy.
“ADM’s commitment to end deforestation across its global supply chains is both enlightened and prudent,” stated Lucia von Reusner, Shareholder Advocate for Green Century Capital Management, an environmentally responsible investment advisor that manages two fossil fuel free mutual funds. “Leadership is often demonstrated by taking a new approach to traditional ways of doing things, and ADM’s no-deforestation sourcing commitment shows that ADM is prepared to lead the industry in a new direction that breaks the link between agriculture and deforestation.”
Deforestation is one of the most urgent risks facing global agriculture production. The rapid loss of forests around the world has led to high rates of soil erosion, declines in local rainfall, biodiversity loss, land conflicts with local communities, and climate change — all of which pose significant risks to global agricultural production. While this environmental degradation associated with deforestation is widely recognized as posing risks to agricultural production and global food security, the industry has been slow to act on the knowledge that deforestation is primarily caused by clearing forests for agriculture.
“The fact that agriculture is both the main victim and main driver of deforestation illustrates that business as usual is unsustainable and self-defeating for the industry,” noted Leslie Samuelrich, President of Green Century Capital Management. “As one of the world’s largest agricultural suppliers, ADM has realized it is uniquely positioned to reverse this trend in order to protect future food security and shareholder value.”
ADM is among the top three agricultural suppliers globally, and is the first company to adopt a no-deforestation policy for the soy it sources, in addition to the palm oil it sources. Soy and palm oil production are leading drivers of rainforest destruction in South America and Southeast Asia, respectively.
In the past year, Green Century also has persuaded major companies including Kellogg’s,* Smuckers,* and ConAgra* to only purchase palm oil from deforestation-free sources, due to the risks associated with purchasing from suppliers engaged in rampant deforestation. Responding to pressure from investors and customers, top palm oil suppliers representing approximately 96% of globally traded palm oil have adopted No-Deforestation policies for the palm oil they trade.
Click here to read the statement that Green Century delivered at ADM’s annual shareholder meeting.
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Green Century Capital Management is the investment advisor to the Green Century Funds and offers two environmentally and socially responsible funds, 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. Green Century also is the only U.S. mutual fund company owned by environmental non-profits, the Public Interest Research Groups (PIRGs).
*As of March 31, 2015, Kellogg Company comprised 0.00% and 0.24% and The JM Smucker Company comprised 0.49% and 0.16% of the Green Century Balanced Fund and the Green Century Equity Fund, respectively. Other securities mentioned were not held in the portfolios as of March 31, 2015. 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, or the market as a whole and may perform worse than the market. 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.
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This information has been prepared from sources believed to be 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. 5/15