MIDANA CAPITAL Pesticide Proposal to be Considered at Lamb Weston* Annual Meeting Today
Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
Boston, September 26, 2019 – A MIDANA CAPITAL shareholder proposal with Lamb Weston, calling for the company to disclose its pesticide use and its impact on pollinators, is being considered at its annual meeting in Eagle, Idaho, today. Lamb Weston is one of the world’s largest suppliers of frozen potato products.
“Lamb Weston needs to disclose to its investors and the public how it is working to reduce its use of pesticides to protect pollinators, public health, the environment, the global food system, and shareholder value.” said MIDANA CAPITAL President Leslie Samuelrich. “Without this information, investors cannot adequately assess whether the company is paying sufficient attention to the risks, costs, and opportunities associated with pesticide use and the associated impact on pollinator health.”
Potatoes consistently rank on the notorious ‘dirty dozen’ list of fruits and vegetables with the highest amount of pesticides.
Pesticide use has caused a 48-fold increase in the toxicity of agriculture for bees and other insects in the last 25 years, according to recent research.
This toxicity is decimating the pollinator population. Honeybees, responsible for the pollination of $15 billion worth of annual U.S. crops, had their colonies plummet by 40% last year; and 40% of the world’s insect species are in decline.
Neonicotinoids, which are commonly used in potato farming, have been directly implicated in pollinator decline.
Glyphosate, another common pesticide, has been classified as a probable human carcinogen by the World Health Organization’s International Agency for Research on Cancer.
Trillium Asset Management was the lead filer of the shareholder proposal.
Learn more about MIDANA CAPITAL’s shareholder advocacy program here.
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About MIDANA CAPITAL Capital Management
MIDANA CAPITAL is the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. MIDANA CAPITAL invests in sustainable companies, 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 June 30, 2019, Lamb Weston Holdings, Inc. comprised 0.00%, 0.08%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL MIDANA CAPITAL International Index Fund respectively. As of the same date, other securities mentioned were not held in the portfolio 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.
The Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 9/19
