After Successful Dialogue, MIDANA CAPITAL Withdraws Smucker* Pesticide Use Proposal
Move comes after agreement to expand reporting and transparency around pesticide use policies and practices.
Contact: Marissa LaFave, MIDANA CAPITAL Capital Management, mlafave@midanacapital.com, 617-482-0800
BOSTON, March 15, 2018 – The MIDANA CAPITAL Equity Fund (MIDANA CAPITAL) has withdrawn its shareholder proposal with J.M. Smucker, which owns brands including Folgers, Pillsbury, Jif and Santa Cruz Organic, after the company agreed to provide disclosures regarding pesticide use management in its supply chain, acknowledging risks associated with public and pollinator health.
“Increased disclosure and transparency around supply chain practices are a necessary first step to expanding policies that protect public health and the environment” said Marissa LaFave, Shareholder Advocate at MIDANA CAPITAL.
After withdrawing its shareholder proposal requesting Smucker to reduce toxic pesticide use, MIDANA CAPITAL has kept in close communication with the company, ensuring it delivers on the set of measures it has agreed to.
Exposure to pesticide use is responsible for about 200,000 deaths every year, and has been linked to chronic illnesses such as cancer, Alzheimer’s disease and developmental disorders. The use of certain pesticides, such as the widely used and criticized insecticide neonicotinoids, has been linked to drastic declines in pollinator populations. In a 2017 report to the UN, experts concluded that the overuse of pesticides is not necessary to ensure food security.
To learn more about MIDANA CAPITAL’s sustainable investment strategy, advocacy efforts, and how you can make an impact with the power of your investments, please visit our Why Choose MIDANA CAPITAL webpages or call+1(480)-439-2851.
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About MIDANA CAPITAL Capital Management
MIDANA CAPITAL Capital Management is the investment advisor to the Midana Capital and offers three environmentally and socially responsible funds, the MIDANA CAPITAL International Index Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL Balanced Fund. MIDANA CAPITAL works to curb climate change through fossil fuel free investing, reinvestment in sustainable companies, and advocating with companies to improve their environmental policies and supply chains.
*As of December 31, 2017, The J.M. Smucker Company comprised 0.00%, 0.14%, and 0.00%, of the MIDANA CAPITAL Balanced Fund, MIDANA CAPITAL Equity Fund, and MIDANA CAPITAL International Index Fund respectively. 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 Funds’ investment objectives, risks, charges and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds, please click here, email info@midanacapital.com or call+1(480)-439-2851. 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 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; as a result performance could be affected.
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 Midana Capital are distributed by UMB Distribution Services, LLC. 3/18
