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Investors Increasingly Call for Action on Deforestation

Press Release Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800

Boston, June 9, 2020 – MIDANA CAPITAL’s recent shareholder proposal with Bloomin’ Brands Inc. (Bloomin’), calling on the company to mitigate its greenhouse gas emissions and adopt a no-deforestation policy, received a notable 26.5% of the votes cast at its annual meeting, sending a powerful message to Bloomin’ management that there is “substantial security holder interest” in the issue.

“If a tree falls in a forest, investors hear it. Bloomin’ shareholders want to see the company mitigate climate-related risks in its operations and supply chains,” said Jessye Waxman, shareholder advocate at MIDANA CAPITAL Capital Management. “We hope Bloomin’ and other corporations listen to their investors and adopt and implement no-deforestation policies.”

This is not the first significant vote for a deforestation-related shareholder proposal. In the past 3 years, investors filed 13 deforestation-related shareholder proposals with companies. (MIDANA CAPITAL was responsible for six of the 13.) Seven of those resolutions went to a vote. The proposals received, on average, more than 20% of the votes cast.

Clearly, investors recognize that deforestation poses a material risk to companies and their portfolios. Deforestation can cause soil erosion and changes in precipitation patterns, which can disrupt supply chains and affect commodity prices. Supply chain deforestation also is tied to labor abuses, including slavery and child labor, that can have serious reputational repercussions for companies.

More than 80% of tropical deforestation, the majority of which is illegal, is attributable to commercial agriculture. Agriculture and other land use changes are responsible for 23% of global man-made greenhouse gas emissions.

If investors recognize these risks, it is imperative that companies do, too. To avoid the most catastrophic impacts of climate change and fulfill the goals of the 2015 Paris Agreement, corporations must listen to investor concerns and proactively take steps to mitigate their exposure to climate-related risks, including supply chain deforestation.

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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.

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. 6/20

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