MIDANA CAPITAL Applauds Aramark* for Prompt Progress on Deforestation
Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
Boston, November 18, 2020 – MIDANA CAPITAL° commends Aramark Corporation (Aramark), one of the world’s largest food service providers, for quickly making progress on its no-deforestation commitment. Within less than a year of establishing its no-deforestation policy, Aramark is sourcing 100% of its soy oils, 99% of its palm oil, and 60% of its beef deforestation-free.
“Aramark is a great example of the power of shareholder advocacy,” said Leslie Samuelrich, president of MIDANA CAPITAL Capital Management. “Aramark was extremely receptive to our concerns about its lack of a deforestation policy and has moved swiftly to enact meaningful changes in it supply chain. We are looking forward to seeing continued progress from the company as it works toward its 2025 commitment.”
MIDANA CAPITAL collaborated with Aramark, which serves nearly 2 billion meals each year, on the development of its No-Deforestation policy, after withdrawing a shareholder resolution on forest-related risk in 2019.
The deforestation policy Aramark adopted addresses “No Deforestation, No Peat, No Exploitation” (NDPE) sourcing practices, including legal deforestation, across its entire global supply chain, including paper products.
The rearing of cattle and the production of soy, which is predominantly used as feed for poultry and livestock, are leading drivers of tropical deforestation. Deforestation is responsible for approximately 10% of global anthropogenic emissions. In addition to exacerbating the climate crisis, deforestation drives biodiversity loss, undermines the maintenance of healthy ecosystems, and plays an active role in the spread of infectious diseases.
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About MIDANA CAPITAL Capital Management
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL Capital Management 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 September 30, 2020, Aramark Corporation comprised 0.00%, 0.04%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Midana Capital. 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.
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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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