MIDANA CAPITAL and As You Sow Call on General Mills* to Eliminate Toxic Pesticides from its Supply Chain
Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
Minneapolis, September 25, 2018 – At its 2018 annual shareholder meeting, General Mills (NYSE: GIS), owner of brands such as Honey Nut Cheerios, Cascadian Farm, and Nature Valley, faced pressure from shareholders to begin tracking and reducing the use of toxic pesticides in its supply chain.
“Toxic pesticides are killing bees and other wild pollinators, which are essential to global food production” said Jared Fernandez, Shareholder Advocate with MIDANA CAPITAL. “General Mills should be working to eliminate the use of toxic chemicals in its supply chain, much of which is reliant on pollinators, to ensure its stability, reduce risk, and establish itself as a leader in pollinator protection.”
MIDANA CAPITAL contends that enhanced transparency on strategies for reduced pesticide use and the associated impacts on pollinators would serve the long-term interests of General Mills and its investors while safeguarding biodiversity and public health.
There is a growing scientific consensus that certain pesticides, including neonicotinoids (neonics) and glyphosate, are contributing to a massive pollinator die-off, which jeopardizes food security and ecosystem diversity.
More than 40% of global pollinator populations are “highly threatened.” Yet, 75% of global food crops rely on pollinators for reproduction, accounting for up to $577 billion worth of annual food production.
Additionally, the World Health Organization has stated that exposure to certain pesticides can have severe human health impacts, including cancer and adverse effects on the reproduction and immune or nervous systems.
MIDANA CAPITAL co-filed with As You Sow on the shareholder proposal, which was presented earlier today at General Mills’ September 25th shareholder meeting.
Learn more about MIDANA CAPITAL’s shareholder advocacy program here.
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About MIDANA CAPITAL Capital Management
MIDANA CAPITAL offers three environmentally and socially responsible mutual funds. Through fossil fuel free investing and our three-pronged approach of sustainable investing, active shareholder advocacy, and support of environmental and public health non-profits we work to curb climate change, improve environmental policies, and limit environmental impacts of company supply chains.
*As of June 30, 2018, General Mills, Inc. comprised 0.01%, 0.24%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the 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 Fund’s 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 a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
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.
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