Media Contacts:
Andrew Shalit, Shareholder Advocate, ashalit@greencentury.com, 617-747-4439
Pam Podger, Communications Director, ppodger@greencentury.com, 802-299-9495
Boston, March 14, 2024 – Is your gas-powered leaf blower contributing to wildfires in Colorado, flooding in California and other extreme weather? Lowe’s*, the world’s second-largest home improvement retailer, signed a pledge this week to increase disclosure of climate emissions data for the products it sells in response to a shareholder proposal from Green Century°, an environmentally responsible mutual fund.
“If you want to understand the climate impact of a company, you have to look at the emissions from the products they sell,” said Leslie Samuelrich, president of Green Century. “We congratulate Lowe’s on this increased transparency and encourage other retailers to follow suit.”
Extreme weather such as atmospheric rivers, wildfires, and floods are linked to climate change, which requires urgent action on all fronts. Companies that measure and disclose their climate impact are taking a critical first step in tackling their contribution to a warming planet.
Most of Lowe’s Climate Emissions Come from Using Products
The climate emissions from running Lowe’s stores contribute less than 1% to Lowe’s total climate footprint, whereas the emissions from the products Lowe’s sells add up to 84%. Until now, investors have not had much information about what goes into that 84%. This increased disclosure will change that and provide a fuller picture.
“If we’re going to hand off a livable planet to future generations, companies need to step up and target their biggest climate culprits,” said Andrew Shalit, a shareholder advocate at Green Century. “We’re pleased to see Lowe’s taking this critical step toward a more sustainable business and world.”
A Few Items Can Have a Large Climate Impact
A small number of product categories – lawncare equipment, home water heaters, and kitchen appliances – can have an outsize impact on climate emissions. Gas-powered lawncare equipment in the U.S. emitted more than 30 million tons of carbon dioxide and nearly 19,000 tons of methane in 2020. Replacing this equipment with electric alternatives would reduce CO2 emissions – approximately equivalent to taking as many as 6.5 million gasoline-powered cars off the road.
States are ramping up action to address climate pollution from consumer products. California recently banned the sale of most gasoline-powered lawn equipment. In 2024, Colorado began offering a 30% discount to consumers purchasing electric lawncare equipment.
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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 12.31.2023, Lowe’s Companies comprised 0.00%, 0.60%, 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, LLC. 235 W Galena Street, Milwaukee, WI 53212. 3/24. UMB Distribution Services LLC is not an affiliate of Green Century or any of its affiliates.