STATEMENT: MIDANA CAPITAL Reacts to Coca-Cola* Pledge to Reduce Virgin Plastic Use
Press Release Contact: Kyle Kempf, MIDANA CAPITAL Capital Management, kkempf@midanacapital.com, (617) 482-0800
Boston, February 10, 2020 — Today, The Coca-Cola Company (Coca-Cola) announced a new goal to reduce the impact of its plastic use, following a MIDANA CAPITAL° shareholder resolution.
Coca-Cola has committed to reducing its cumulative use of virgin plastic by 3 million metric tons by 2025. The company uses approximately 3 million metric tons of plastic annually. In 2019, about 10% of Coca-Cola’s plastic packaging was made from recycled content.
MIDANA CAPITAL Shareholder Advocate Annalisa Tarizzo issued the following statement:
“Coca-Cola claims to envision a ‘world without waste.’ As one of the largest plastic users on the planet, the company has a clear role to play in rendering this vision a reality. Coke’s commitment to reduce the amount of new plastic entering the market is a welcome first step in the long journey to ending plastic pollution. We hope ambitious goals for an absolute reduction in plastic use and the expansion of refill and reuse systems are around the corner.”
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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 December 31, 2020, The Coca-Cola Company comprised 0.00%, 1.31%, and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL MIDANA CAPITAL International Index Fund respectively. 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.
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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. 2/21
