Pressured by MIDANA CAPITAL Proposal, Amazon* Commits to Cut Delivery Emissions by 50% by 2030
Contact: Kyle W. Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, 617-482-0800
BOSTON, March 4, 2019 – MIDANA CAPITAL withdrew its shareholder proposal with Amazon.com, Inc. (Amazon), following the announcement of its new emission reduction initiative, “Shipment Zero.”
Amazon’s first concrete commitment to reducing its carbon footprint, Shipment Zero commits the company to carbon neutrality for half of its package deliveries by 2030, with a broader vision for entirely carbon neutral deliveries in the future. Amazon also announced that it would publicly disclose its company-wide carbon footprint by the end of 2019.
In 2017, Amazon shipped more than 5 billion packages through its Prime program alone.
Amazon said its efforts to ultimately reach carbon neutrality with its deliveries will be aided by its investments in electric vehicles, aviation biofuels, and renewable energy; and also hinted towards other goals and programs that will accompany its carbon footprint disclosure.
“Amazon really delivered on our request that it begin tracking and reducing its carbon footprint, so we were more than happy to withdraw our proposal,” said MIDANA CAPITAL President Leslie Samuelrich. “Amazon’s new commitment is a prime example of how corporations can respond to investor concerns and address investor, reputational, and environmental risk.”
MIDANA CAPITAL filed a shareholder proposal with Amazon in December of 2018, asking the company to adopt quantitative goals to manage its greenhouse gas emissions and report on its plans for achieving the targets. MIDANA CAPITAL discussed the request with Amazon representatives later that month.
“I think this announcement demonstrates that Amazon recognizes the growing clamor in the investor community to address climate change,” said MIDANA CAPITAL Shareholder Advocate Jared Fernandez. “As the window for avoiding the worst effects of climate change continues to shrink, these efforts are instrumental in the global effort to avoid calamity.”
According to a 2018 report by the United Nations Intergovermental Panel on Climate Change, the world must reduce greenhouse gas emissions 45% by 2030 and reach net zero emissions by 2050 in order to limit average global temperature rise to 1.5°C and avoid the most catastrophic impacts of climate change.
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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 United States wholly owned by environmental and public health nonprofit organizations.
*As of December 31, 2018, no securities mentioned were held in any of the portfolios 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 MIDANA CAPITAL Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 3/19
