Media Contacts:
Andrew Shalit, Shareholder Advocate, ashalit@greencentury.com, 617-747-4439
Pam Podger, Communications Director, ppodger@greencentury.com, 802-299-9495
Boston, April 30, 2024 – Shareholders will have their say on Green Century’s° shareholder proposal asking PepsiCo* to assess and report its impacts on nature & biodiversity at its May 1 annual general meeting. PepsiCo touts itself as an environmentally responsible company, but it does not publish a comprehensive report on its nature-related dependencies, impacts, opportunities, and risks.
“PepsiCo shouldn’t take nature for granted,” said Green Century Funds President Leslie Samuelrich. “The company depends on nature for the ingredients that go into its snacks and the water that goes into its sodas. It should report clearly and fully on how its operations and sourcing impact nature, and how it can lessen that impact.”
Investors Increasingly Concerned with Nature & Biodiversity
Investor concern over nature and biodiversity loss have been on the rise as the planet has experienced increased wildfires, megadroughts, the loss of pollinators, and widespread plastic pollution. The Taskforce on Nature-related Financial Disclosure (TNFD) announced in January that 320 companies had committed to reporting under its framework.
Green Century’s resolution at PepsiCo is among the first asking a company to report under TNFD. The vote will give an indication of how the broader investment community views this issue. Several large investment groups have signaled their support in advance of the vote, including Allianz Global Investors, Norges Bank Investment Management, the New York City Comptroller, and Storebrand Asset Management.
“Companies in the food and beverage sector are highly reliant on nature and they have a major impact on nature through their sourcing and packaging,” said Andrew Shalit, shareholder advocate at Green Century. “PepsiCo owes investors a full accounting of the risks it faces and the impact it has, and it owes the planet a full assessment of how it can make its supply chain more nature positive.”
PepsiCo’s annual general meeting will be held on May 1st. The result of the vote will be announced in the following days.
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, PepsiCo comprised 0.00%, 1.02%, and 0.00% of the 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. UMB Distribution Services, LLC is not an affiliate of Green Century or any of its affiliates. April 2024.