STATEMENT: AGCO Announces Plan for Climate Roadmap
Media Contacts:
Andrea Ranger, aranger@greencentury.com, 781-349-2813
Pam Podger, ppodger@greencentury.com, 802-299-9495
Boston, April 19, 2024 – AGCO Corporation* committed to developing its first climate roadmap, also known as a climate transition plan, after Green Century° filed a shareholder proposal with the company in late 2023. Companies across industries are increasingly adopting climate transition plans to show how they will reduce their contributions to climate change by adopting new business strategies and making climate-friendly products.
“It’s important that companies set goals to reduce their carbon pollution, but target-setting with robust planning, which is what climate transition plans are, is even more effective,” commented Green Century President Leslie Samuelrich. “Done well, these plans have milestones and timelines, which demonstrate that businesses’ genuine commitment, needed resources, and thoughtful planning is in place.”
In its most recent sustainability report, AGCO remarked on the urgency of climate change and set credible goals to drastically reduce its greenhouse gas emissions. Additionally, AGCO noted its first climate transition plan would set out “key levers to reduce our climate impact.”
AGCO designs and manufactures agricultural equipment including tractors, combines, sprayers, and other farm equipment and is based in Duluth, GA. Its products are sold in 140 countries, and recently, the company has been designing and testing tractors that run off renewable fuels such as vegetable oil, green hydrogen, and biomass. It is also now sells an electric tractor. tractor.
AGCO announces new sustainability goals
AGCO also announced a new goal for cutting greenhouse gas emissions from its operations by 55% by 2033, and it is actively working with farmers to reduce their greenhouse gas emissions by testing ways to make soils healthier, which can prevent carbon from leaving the soil and entering the atmosphere. Further, AGCO’s advanced agricultural equipment provides environmental benefits to farmers by helping them cut down on fertilizer while increasing yields.
“We’re pleased that AGCO recognizes the importance of climate transition plans to investors like us,” said Green Century Shareholder Advocate Andrea Ranger. “The company is working on many fronts to cut emissions from its operations, help farmers save money by farming smarter, and make sure carbon stays in the soil.”
A sustainable investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
About Green Century
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. Green Century 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 03.31.2024, AGCO Corporation comprised 0.00%, 0.03%, 0.00% 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. UMB Distribution Services, LLC is not an affiliate of Green Century or any of its affiliates. April 2024.
