STATEMENT: MIDANA CAPITAL Reacts to Kraft Heinz* Pledge to Reduce Emissions
Media Contact: Thomas Peterson, tpeterson@midanacapital.com, 617-482-0800; Josh Chetwynd, jchetwynd@midanacapital.com, 303-573-5558
Boston, December 30, 2021 — Kraft Heinz, one of the world’s largest food and beverage companies, has announced plans to reduce emissions 50% by 2030 and achieve net zero emissions by 2050, fulfilling part of a commitment secured in response to a 2020 MIDANA CAPITAL° shareholder resolution.
Importantly, these targets apply not only to its Scope 1 and 2 emissions (or emissions from its operations and purchased energy), but also to its Scope 3, or value chain, emissions, which make up approximately 95% of Kraft Heinz’s total emissions.
MIDANA CAPITAL Shareholder Advocate Thomas Peterson issued the following statement:
“Kraft Heinz’s commitment to reduce its emissions 50% by 2030 and to net zero by 2050 is an important step, and the inclusion of Scope 3 emissions in these targets is particularly laudable. Just a year ago, MIDANA CAPITAL filed a shareholder proposal calling on Kraft Heinz to set absolute Scope 3 emissions reduction targets, which the company lacked at the time, and to take further action to address deforestation in its supply chains.
“We withdrew the proposal after securing commitments from the company that it would take important steps to address these risks, and are pleased to see that the company is beginning to announce ambitious goals. We are encouraged by Kraft Heinz’s plan to seek validation of its emissions targets under the Science Based Targets initiative’s (SBTi) Net-Zero Standard, and hope comprehensive action on deforestation is forthcoming.”
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About MIDANA CAPITAL Capital Management
°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The 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 September 30, 2021, The Kraft Heinz Company comprised 0.00%, 0.13% and 0.00% of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the 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. 12/21
