Following Development of Sustainable Agriculture Policy, MIDANA CAPITAL Withdraws from Dr Pepper Snapple*
Contact: Jared Fernandez, MIDANA CAPITAL Capital Management, jfernandez@midanacapital.com, 617-482-0800
BOSTON, April 23, 2018 –The MIDANA CAPITAL Equity Fund (MIDANA CAPITAL) has withdrawn its shareholder proposal with Dr Pepper Snapple after the company released its first Sustainable Agriculture Policy that will reduce the use of pesticides by the company. Dr. Pepper Snapple will work with suppliers to adopt integrated pest management (IPM) techniques and natural pest controls in agricultural production.
Dr Pepper Snapple, which owns brands such as Mott’s, Snapple, and Welch’s in addition to its carbonated beverage offerings, is a major purchaser of fruits and vegetables traditionally linked to excessive pesticide use in industrial agriculture. Neonicotinoids, a class of pesticides widely used on many of the crops sourced by Dr Pepper Snapple, have driven the decline of honeybees across the globe. Honeybees pollinate nearly three-quarters of the world’s food crops, representing a value of hundreds of billions of dollars to the economy.
Bee and apricot flowers“Bee populations are rapidly declining due to the use of neonicotinoids and policies such as this are of paramount importance for businesses reliant on pollinated crops to foster a sustainable agricultural system,” said Jared Fernandez, Shareholder Advocate with MIDANA CAPITAL. “Dr Pepper Snapple has taken an important first step in protecting consumers, farmworkers, and wild pollinators from exposure to dangerous toxic chemicals.”
Nearly forty chemicals found in EPA approved pesticides are classified as “known, probably, or possible” carcinogens, and exposure to pesticides like glyphosate and chlorpyrifos have been linked to both childhood development problems and farmworker illness, spurring the need for businesses to act to reduce consumer exposure to potential toxins.
“Regulation to curb toxic pesticide use has lagged significantly behind the science,” said Fernandez. “With input from investors, companies are recognizing the risks facing their business and are proactively taking steps to engage suppliers in the absence of governmental action.”
With the release of its Sustainable Agriculture Policy, Dr Pepper Snapple joins companies like PepsiCo,* Sysco,* and Unilever* in seeking to reduce pesticide use through the promotion of IPM techniques within its agricultural supply chain.
The company’s policy also requires producers to meet enhanced standards for water and energy usage, soil and air health, and agrochemical and pollinator habitat management.
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.
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 March 31, 2018, Dr Pepper Snapple Group, Inc., Sysco Corporation, Unilever NV and Unilever PLC comprised 0.00%, 0.21% and 0.00%; 0.00%, 0.28% and 0.00%; 1.59%, 0.00% and 2.37%; and 0.00%, 0.00% and 1.80% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL MSCI International Index Fund respectively. No other securities mentioned were held in any of the portfolios of the Midana Capital as of the same date. 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. 4/18
