January 27, 2014

 
STATEMENT: Investors representing more than $250 billion in assets under management support new steps towards sustainability by Wilmar,¹ world’s biggest palm oil trader

January 30, 2014

When investors speak, companies listen. In response to an initiative by investors from across the globe calling for the development of transparent, traceable, deforestation-free palm oil supply chains, Wilmar – the world’s biggest palm oil trader – has adopted a groundbreaking new forest conservation policy. This “No Deforestation, No Peat, No Exploitation” policy comes at a critical time when forests and biodiversity around the world are disappearing at an unprecedented rate,² and represents major progress in the reduction of the social and environmental risks associated with commodity production.

Companies like Wilmar that reduce environmental risks may enjoy competitive advantages. The production of palm oil and other major agricultural commodities can be associated with significant negative impacts on the environment and communities, including deforestation, increased greenhouse gas emissions, wildlife extinction, and displacement of local communities. Given the impacts and controversies associated with the palm oil industry, incorporating strong environmental and social risk assessments into the due diligence process can help investors make responsible investment decisions that support sustainable and durable business models.

If fully implemented, Wilmar’s new policy may reduce risks for its investors and sets a new standard for sustainable agricultural commodity production that protects forests, peat, and communities. The undersigned investors encourage other companies to demonstrate their commitment to sustainable agricultural production and tackling climate change by adopting similar forest policies that pledge to eliminate deforestation from their supply chains. Companies that adopt strong environmental and social practices can position themselves as sustainability leaders alongside Wilmar, potentially reducing risk and helping to attract investment capital.

The undersigned investors welcome Wilmar’s policy and early signs of implementation, and continue to closely monitor the company’s progress in meeting its stated goals.

Leslie Samuelrich
President
Green Century Capital Management

Catherine Cartier
President
Progressive Asset Management

Cllr Kieran Quinn
Chair
Local Authority Pension Fund Forum

Patrick Doherty
Director – Corporate Governance
Office of the New York State Comptroller

Julie Fox Gorte
SVP for Sustainable Investing
Pax World Management LLC

Francis Sherman
Associate Director
Wisconsin, Iowa, and Minnesota Coalition for Responsible Investment

Gabriel Thoumi, CFA, Certified Ecologist
Sr. Sustainability Analyst
Calvert Investments

Gwen Farry, BVM
Sister
Sisters of Charity, BVM

Jeffery W. Perkins
Executive Director
Friends Fiduciary Corporation

John Sealey
Social Justice Coordinator
Midwest Jesuits

John Streur
President
Portfolio 21

Jonas Kron
SVP, Director, Shareholder Advocacy
Trillium Asset Management, LLC

Joy Peterson
Shareholder Committee
Sinsinawa Dominicans

Judy Byron, OP
Director
Northwest Coalition for Responsible Investment

Krista Strohoffer
Certified Financial Planner™
Principled Investing LLC

Larisa Ruoff
Shareholder Advocacy and Corporate Engagement
The Sustainability Group of Loring, Wolcott & Coolidge

Luan Steinhilber
Director of Operation and Shareholder Advocacy
Miller/Howard Investments, Inc.

M. Cecile Paulik
Special Projects
Sisters of the Sorrowful Mother International Finance, Inc.

Marie Luchet
Head of SRI analysis
Ecofi investissements

Mark Potter
Director of Social Ministries
California Jesuits

Mary Southard
Congregation of St. Joseph

Michael Kramer
Managing Partner, Director of Social Research
Natural Investments

Stephen Viederman, Chair
Finance Committee
Christopher Reynolds Foundation

Nicholas Napolitano
Assistant for Social Ministries
MAR, NEN and NYK Provinces of the Society of Jesus

Patricia Jurewicz
Director
Responsible Sourcing Network

Peter Krull
President
Krull & Company

Racine Dominican SRI Committee

Rev William Antone OMI
Provincial
Missionary Oblates

RJ Devick
President
Bond & Devick Financial Network

Rozanna Patane
Owner
Rozanna Patane Financial Advisor

Ruth Geraets, PBVM
Treasurer
Sisters of the Presentation of the BVM, Aberdeen SD

Sally Ann Brickner
Justice, Peace and Ecology Coordinator
Congregation of Sisters of St. Agnes, 320 County K, Fond du Lac, WI

Susan Ernster, FSPA
Treasurer
FSPA

Susan Vickers
VP Community Health
Dignity Health

United States Province
Justice and Peace Team
School Sisters of St. Francis

Sara Nordbrand
Sustainable Investment – Head of Corporate Engagement
Church of Sweden

¹ As of December 31, 2013, Wilmar International Limited was not held in the portfolios of either the Green Century Equity Fund or the Green Century Balanced Fund. 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.
² http://news.ku.dk/all_news/2012/2012.1/biodiversity/

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