May 4, 2017
Shareholders’ rights to engage with companies are under fierce attack in Congress. The ability to file a shareholder resolution, a critical way to bring issues to the attention of top management and press for changes that increase long-term sustainability, would be eliminated for the vast majority of investors under a provision in the proposed Financial Choice Act 2.0.
The bill would raise the requirements for filing a proposal so high that only the very largest investors in the country would be eligible, effectively eliminating access for large institutional investors such as pension funds and all the responsible mutual funds, including Green Century. For example, an investor would need to hold $7 billion of Apple* stock or $2.7 billion of Wells Fargo.*
Shareholder engagement has contributed to some dramatic improvements in policies and practices over the last 25 years. It has improved transparency around political spending, demonstrated the need for companies to source clean energy, and helped alert companies to reputational risk.
The time for investors to voice their concerns is now. Thank you for your support and willingness to get involved. Let Congress know that you oppose the Financial Choice Act.
Green Century Capital Management
P.S. – This bill isn’t just bad for shareholders – it is bad for all consumers. The Financial Choice Act 2.0 would gut the protections of the Dodd-Frank Act, which was put in place to protect consumers after the financial crisis, and weakens the Consumer Financial Protection Bureau (CFPB), which was designed to prevent another financial crisis. Our owners, the state Public Interest Research Groups are fighting now to protect consumers. Please join them, and us, in asking Congress to reject the Financial Choice Act.
Photo credit: Fearless Girl Statue by Kristen Visbal New York City Wall Street by Anthony Quintano via Flickr CC BY 2.0
*As of March 31, 2017 Apple, Inc. comprised 0.96%, 0.00%, and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century MSCI International Index Fund, respectively. Other securities mentioned were not held in the portfolios of any of the Green Century Funds as of March 31, 2017. 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 Funds’ investment objectives, risks, charges and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds, please click here for more information, email firstname.lastname@example.org 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 or political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. 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.
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 Funds.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. 5/17