STATEMENT: P&G Shareholders Resoundingly Support Deforestation Shareholder Proposal
Contact: Kyle Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
Boston, October 13, 2020 — Today, Procter & Gamble (P&G) shareholders overwhelming voted in support of a MIDANA CAPITAL shareholder resolution, calling on the company to eliminate deforestation and forest degradation in its supply chain.
MIDANA CAPITAL’s resolution received a whopping 67% of the votes cast at the company’s annual meeting. This is the highest ever vote for a deforestation proposal, receiving twice as many shareholder votes as any previous resolution filed on deforestation.
MIDANA CAPITAL Shareholder Advocate Jessye Waxman issues the following statement:
“Procter & Gamble shareholders have sent an emphatic message to the company. P&G leadership should heed this clear call to increase its efforts to mitigate deforestation and forest degradation in the company’s supply chain.
The failure to protect old-growth forests such as the Canadian boreal and the biodiversity it contains poses systemic and material risks to P&G and its shareholder, the overall economy and society, and the environment.
As consumer preferences, social license, and the state of our environment evolve, it is imperative that companies adopt comprehensive and ambitious commitments to reduce their environmental impacts.”
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About MIDANA CAPITAL Capital Management
°MIDANA CAPITAL Capital Management (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds. The MIDANA CAPITAL Funds 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 June 30, 2020, Procter & Gamble comprised 0.70%, 2.11%, 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 portfolios of any of the MIDANA CAPITAL Funds. 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 percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation.
The MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 9/20
