Boston, February 20, 2025 – Bloomin’ Brands, parent company of several of the largest U.S. restaurant chains, has agreed to strengthen its commitment to protect forests when sourcing ingredients for its 1,480 restaurants around the world. The move came after Green Century Capital Management filed a shareholder proposal asking the company to assess its impact on biodiversity and nature loss.
“We congratulate Bloomin’ Brands on strengthening its forest protection policies,” said Leslie Samuelrich, president of Green Century Funds. “When you go out for dinner, you shouldn’t have to worry that people are cutting down forests in the Amazon so you can eat your meal.”
Bloomin’ Brands owns Outback Steakhouse, Carrabba’s Italian Grill, Bonefish Grill and several other casual dining chains. Through direct ownership and franchises it is responsible for 1,150 restaurants in the United States and smaller numbers in other countries.
Beef and Palm Oil Drive Tropical Deforestation
Beef and palm oil production are among the largest reasons for the loss of rainforests worldwide. In exchange for Green Century withdrawing its shareholder proposal, Bloomin’ Brands agreed to strengthen its policies to protect forests when sourcing these ingredients. For the first time, the company will disclose the percentage of beef sourced from Brazil. In addition, Bloomin’ says it will ensure that 60% of that Brazilian beef will come from verified deforestation-free sources. The company says it aims to increase this commitment to 100% in the future.
Bloomin’ will also improve the traceability of its palm oil products and agreed to include biodiversity impacts in the double-materiality assessment it is undertaking in 2025.
“Bloomin’ Brands has a significant presence in Brazil, raising the possibility that beef sold in the company’s restaurants contributes to forest loss in the Amazon,” said Andrew Shalit, shareholder advocate at Green Century. “We appreciate the company’s willingness to begin tracking and disclosing its beef sourcing specific to Brazil. We hope this will pave the way for a commitment to 100% deforestation-free beef in the near future.” Green Century has been pressing Bloomin’ Brands to improve its forest protection policies for several years. In 2023, 43% of the company’s shareholders voted in favor of a shareholder proposal by Green Century to address climate change and improve forest protection.
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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 12.31.2024, Bloomin’ Brands comprised 0.00%, 0,00%, 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.
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