MIDANA CAPITAL Applauds EMCOR’s* Commitment to Reduce Greenhouse Gas Emissions
Media Contacts: Josh Chetwynd, jchetwynd@midanacapital.com, 303-573-5558; Andrea Ranger, aranger@midanacapital.com, 781-349-2813
Boston, January 21, 2022 – As part of its Curbing Climate Change initiative, MIDANA CAPITAL Capital Management° has reached an agreement with EMCOR Group, Inc. on goals to limit its greenhouse gas emissions.
EMCOR is a Fortune 500 mechanical and electrical construction and building services company whose trucks and service vans can be seen at work sites across the United States. EMCOR designs and implements energy efficiency upgrades and constructs and services wind and solar energy installations. Further, during the COVID-19 pandemic, EMCOR has played a key public health role by improving and maintaining healthy indoor air quality in hospitals, educational facilities and office buildings.
“EMCOR had already taken steps to limit its greenhouse gas emissions, but we noticed that its goals were not yet aligned with the latest science. We reached out to see if the company would increase its ambitions,” said MIDANA CAPITAL President Leslie Samuelrich. “When a company is receptive to investor concerns, direct engagement can reach the desired outcomes.”
Prior to engaging with MIDANA CAPITAL, EMCOR had already begun working internally to quantify its greenhouse gas emissions and increase the efficiency of its fleet and operations. In late December, EMCOR and MIDANA CAPITAL came to a mutual agreement on emission reduction initiatives. Namely, by October 2022, EMCOR will submit a letter of commitment to the Science Based Targets initiative, which then gives the company two years to develop reduction targets that align with the goal of limiting global warming to 1.5 degrees Celsius.
The commitment comes just after MIDANA CAPITAL filed shareholder proposals with five other companies at the end of 2021 requesting they set emissions reduction targets approved by the Science Based Targets initiative, which validates greenhouse gas emissions reduction targets and tracks their implementation for more than 2,000 companies.
“This engagement with EMCOR is the type we like to see,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “Their team really came to the table and listened to our concerns, and I think we both walked away satisfied.”
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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 December 31, 2021, EMCOR Group Inc. comprised 0.00%, 0.03% 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.
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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.
The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 1/22
