MIDANA CAPITAL Withdraws Shareholder Proposal with Tyson Foods* After It Commits to No-Deforestation Policy
Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
Boston, February 5, 2020 – MIDANA CAPITAL Capital Management (MIDANA CAPITAL) has withdrawn a shareholder proposal with Tyson Foods, Inc. (Tyson), the second largest meat processor in the world, after the company publicly revealed its commitment and existing plans to develop and implement a no-deforestation policy.
“We are pleased that Tyson is committing to ensuring that its international supply chain is not contributing to the destruction of tropical forests or the climate crisis,” said MIDANA CAPITAL President Leslie Samuelrich. “Tyson’s actions on deforestation demonstrate its commitment to its vision to become the ‘most sustainable protein supplier’ in the world.”
In the withdrawal agreement, Tyson publicly committed to developing and implementing a forest policy that addresses “No Deforestation, No Peat, No Exploitation (NDPE).” It also agreed to establish supplier monitoring and engagement policies.
To alleviate investor concerns about transparency, Tyson also agreed to improve its reporting on the traceability and sustainability of forest-risk commodities in its global supply chain.
With this announcement, Tyson joins peers JBS* and Cargill,* which also have committed to mitigating their impacts on the world’s forests.
In recent years, Tyson has expanded its operations in international markets, including Brazil, China, and Southeast Asia, which have greater operation and supply chain exposure to deforestation-related risks. With its increasingly global presence, Tyson’s plan to mitigate deforestation should have a considerable impact.
The rearing of cattle and the production of soy, which is predominantly used as feedstock for poultry and livestock, are leading drivers of tropical deforestation. Deforestation is responsible for approximately 10 percent of global anthropogenic greenhouse-gas emissions, making it a larger contributor to climate change than the European Union. In addition to exacerbating the climate crisis, deforestation poses risks to biodiversity and the maintenance of healthy ecosystems.
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About MIDANA CAPITAL Capital Management
MIDANA CAPITAL Capital Management is the investment advisor to the Midana Capital. 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, 2019, no securities mentioned were 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.
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. 2/20
