Release: Green Century Launches Fossil Fuel Free Investment Video
Tuesday, March 11, 2014 – Green Century Capital Management (Green Century) launches an animated fossil fuel free investing educational video and outreach program to educate the public and reach potential investors who are interested in moving their investments out of fossil fuel companies for moral and financial reasons. The video shows a family who cares about the planet and already takes action against global warming by using more energy-efficient light bulbs and signing petitions, yet without realizing it, might be financing the very companies that are fueling climate change—resulting in damaging storms and wildfires – through their mutual fund investments.
“I’m like any parent. I worry about my daughter and the world she’ll inherit,” said Leslie Samuelrich, President of Green Century Capital Management. “The last thing I and many parents want to do is fund the companies that threaten to make her world a more chaotic, more dangerous place. That’s why thousands of Americans are taking this simple, yet bold and liberating step of investing fossil fuel free—moving their retirement savings, college fund or other investments out of the companies that fuel climate change by mining for coal, fracking for gas, and drilling for oil.”
According to climate action leader Bill McKibben these companies have five times as much carbon in the ground as even the most conservative government says we can burn before we do irreversible damage to our children’s future.¹ To build the public pressure needed to enact climate change protections, 350.org and others launched a fossil fuel divestment campaign that has spread to over 400 institutions in just 18 months. Last fall, Green Century, 350.org and Trillium Asset Management published Extracting Fossil Fuels from Your Portfolio: A Personal Guide to Divestment and Reinvestment in response to the growing interest from individuals who wanted to know more about this topic.
Green Century is uniquely positioned to lead this education campaign since it is the first and only family of fossil fuel free responsible and diversified mutual funds.* Green Century also is the only mutual fund company founded and owned by a partnership of non-profit environmental advocacy organizations; 100% percent of the net profits earned by Green Century Capital Management on the fees it receives for managing the Green Century Funds belong to its founding organizations, the state Public Interest Research Groups (PIRGs). The video was produced with Fenton Communications.
Green Century Capital Management (Green Century) is an environmentally responsible investment advisory firm that manages two mutual funds – the Green Century Balanced Fund (GCBLX) and the Green Century Equity Fund (GCEQX). Founded in 1991, Green Century also leverages its power as a shareholder to press companies to adopt more environmentally responsible corporate behavior. Recent shareholder advocacy victories include company policy changes at Kellogg’s** on palm oil and Tyson Foods** on factory farming.
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*The Green Century Balanced Fund has been fossil fuel free since 2005 and the Green Century Equity Fund will be completely fossil fuel free by April 1, 2014.
** As of December 31, 2013, Kellogg Company comprised 0.24% of the Green Century Equity Fund and 0.00% of the Green Century Balanced Fund. Other securities mentioned were not held in the portfolios as of December 31, 2013. 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 Funds.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 3/14