Walmart and Tractor Supply Won’t Allow Shareholder Vote on Climate Disclosures
Media Contacts:
Andrew Shalit, Shareholder Advocate, ashalit@greencentury.com, 617-747-4439
Pam Podger, Communications Director, ppodger@greencentury.com, 802-299-9495
Boston, April 25, 2024 – National retailers Walmart and Tractor Supply Company will not allow shareholders to vote on proposals to disclose more information about the sources of each company’s planet-warming emissions. The move comes after the SEC notified the companies that they could exclude the shareholder proposals filed by Green Century Capital Management from their annual meeting agenda.
“We are disappointed that Walmart and Tractor Supply have decided not to allow shareholders to weigh in on whether the companies should reveal more about their products’ carbon emissions,” said Leslie Samuelrich, President of Green Century. “These companies sell both highly polluting products and cleaner alternatives. Investors deserve to know how these stores are managing their product portfolios as we transition to a low-carbon economy.”
If implemented, Green Century’s proposals would have provided important insight into the greenhouse gas emissions caused by the products sold at the stores, such as gasoline powered lawn mowers and leaf blowers.
Most Emissions Come from Products, Not Stores
Pollution from the production and use of retail products is a major contributor to Walmart and Tractor Supply’s overall carbon footprint. And while both companies provide a breakdown of their emissions from operations, they do not disclose which product categories are responsible for the emissions caused by the products that they sell. Product emissions are many times greater than operational emissions.
“Walmart and Tractor Supply have an opportunity to shed light on the climate pollution from their products,” said Andrew Shalit, shareholder advocate at Green Century. “We hope the companies will follow the example set by Lowe’s and provide this additional information.”
In January, Lowe’s agreed to provide this expanded disclosure in response to outreach and discussion with 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 a family of fossil fuel-free, environmentally responsible mutual funds. 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.
A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
*As of March 31, 2024, Tractor Supply Company comprised 0.02%, 0.12%, and 0.00%, Walmart comprised 0.00%, 0.00%, and 0.00%, and Lowe’s Companies, Inc. comprised 0.00%, 0.62%, and 0.00% of 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.
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