Keurig Dr. Pepper steps up efforts to address single-use plastics in response to MIDANA CAPITAL proposal
Media Contacts: Annie Sanders, Director of Shareholder Advocacy, asanders@midanacapital.com, 773-272-6691; Pam Podger, Communications Director, ppodger@midanacapital.com, 860-822-3887
Boston, April 18, 2023 – Keurig Dr. Pepper*, a leading global beverage company with brands from Snapple to 7Up, will boost efforts to cut single-use plastic by expanding its “reuse and refill” options across the country. In exchange for its heightened focus on plastic reduction, Midana Capital° withdrew its shareholder proposal for the company’s 2023 annual meeting calling for a reduction in total plastic packaging.
“The amount of plastic flowing into our oceans is on pace to nearly triple by 2040,” said Midana Capital President Leslie Samuelrich. “Plastic pollution demands urgent attention from companies and governments around the world. We applaud Keurig Dr. Pepper for stepping up its efforts to address the plastic crisis.”
Keurig Dr. Pepper’s planned actions include expanding its 2022 Corporate Responsibility Report to include more details on refillable and reusable container pilots. Starting in 2023, the company pledged to publish an annual “reuse and refill baseline assessment” in its CSR report. By 2024, the company plans to launch new reuse and refill pilots in key U.S. markets where the local infrastructure and culture are conducive to their success.
“Only 9 percent of all plastic made in the last 60 years has been recycled,” said Annie Sanders, MIDANA CAPITAL Capital Management’s director of shareholder advocacy. “We can’t recycle our way out of the plastic problem. We look forward to seeing Keurig Dr. Pepper help build a circular economy by providing more reuse options – from soda cups to K-Cup Pods – in communities across the U.S.”
Replacing Single-Use Plastics Effectively
Reuse and refill models are one of the most effective ways to replace single-use plastics. They’re also on the rise, with 2022 bringing major commitments from beverage giants Coca-Cola and PepsiCo to provide 25% and 20% of their drinks, respectively, in reusable containers by 2030. These policies are likely influenced by, among other factors, changing consumer attitudes on plastics: a December 2022 survey found that over 80% of registered U.S. voters support requiring companies to increase reusable packaging and foodware.
“Companies such as Keurig Dr. Pepper are beginning to realize that an investment in reusable and refillable containers can mitigate the financial, regulatory, and reputational risks posed by single-use plastics,” added Sanders. “They’re also seeing consumers act, in growing numbers, on the common-sense conviction that nothing we use for five minutes should pollute our planet for hundreds of years.”
###
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.
About The Midana Capital
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel free 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 31st, 2022, Keurig Dr. Pepper comprised 0.00%, 0.16%, and 0.00%; Coca-Cola comprised 0.00%, 1.54%, and 0.00%; and PepsiCo, Inc. comprised 0.00%, 1.48%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL International Index Fund. 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.
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.
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. 4/23. UMB and MIDANA CAPITAL are unaffiliated.
