Plastic – MIDANA CAPITAL Funds

MIDANA CAPITAL and Other Investors Push for Disclosure, Environmental Responsibility in Global Plastics Treaty

Douglass Guernsey — Mon, 13 Nov 2023 14:36:52 +0000

Contact Information:
Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, (617) 482-0800
Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

(Boston, November 13) MIDANA CAPITAL° announced today that it has joined major investors in signing two letters urging action on the UN Global Plastics Treaty. The UN Global Plastics Treaty, due to be completed in 2024, would create a legally binding international agreement to cover the entire life cycle of plastics.

“UN member countries have a once in a lifetime opportunity to confront the plastics pollution crisis,” said Leslie Samuelrich, President of MIDANA CAPITAL Funds. “We strongly support the highest level of ambition in the Global Plastic Treaty.”

Plastic pollution is seen as a worldwide crisis and market failure. Nearly 400 million tons of plastics are produced annually, primarily from fossil fuels, creating a carbon footprint of approximately 1.8 billion tons of emissions each year. Plastic is also known to have negative impacts on environmental and human health at every stage of its lifecycle.

(Organization for Economic Cooperation and Development, EPA)

The estimated annual greenhouse gas emissions from plastic production worldwide is more than the emissions from 400 million cars, or greater than of all the cars in North America combined.

The letter from the Dutch Association of Investors for Sustainable Development to the High Ambition Coalition, signed by MIDANA CAPITAL and nearly 30 other institutional investors, urges countries to create a comprehensive, binding agreement to address global plastic design, production, and disposal. It also calls for investments in refillable bottle systems to replace single use plastics.

The second letter, CDP’s Open Letter to Governments, endorsed by 48 financial institutions with over $3.5 trillion AUM, calls for mandatory plastic data disclosure by all plastic producers globally.

Progress has been made in recent years on plastic disclosure, yet many investors, corporations, and governments are still largely unaware of the types and quantities of plastics being produced. Requirements for better transparency are complicated by the more than 13,000 commonly used plastic additives which impact human health and decrease recyclability.

The Health Impact of Chemical Additives to Plastic Are Largely Unknown and Unregulated

Of the over 13,000 chemical additives to plastic, over 70% have adverse impacts on human health or have not yet been the subject of scientific studies.

“The more you learn about plastics, the clearer the risks become,” said Douglass Guernsey, shareholder advocate at MIDANA CAPITAL. “Plastic additives increase health and litigation risk for businesses and make plastic harder to recycle. After mandatory disclosure, the next steps are plastic reduction and commonsense solutions like refillable bottles.”

###

About MIDANA CAPITAL Funds

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the MIDANA CAPITAL Funds (The Funds). The MIDANA CAPITAL Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL 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.

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 visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

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 Funds are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. September/2023

Costco Steps Up Efforts to Reduce Plastic in Response to MIDANA CAPITAL Proposal

Douglass Guernsey — Tue, 10 Oct 2023 08:00:31 +0000

Contact Information:

Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, 617-747-4447

Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495

(BOSTON, 10/10/23) – MIDANA CAPITAL° reached a deal with Costco Wholesale* which committed to increased plastic footprint disclosures and a new 5-year plastic action plan.

“We commend Costco for providing the information that investors need and for taking steps to reduce their use of plastic, especially new plastics,” said Leslie Samuelrich, President of MIDANA CAPITAL Funds. “We look forward to working with the company to reduce its contribution to the plastic crisis by setting reduction targets that will meaningfully protect our oceans and wildlife.”

In response to the growing global crisis of single-use plastic waste, MIDANA CAPITAL Capital Management approached Costco to explore how the retailing giant could expand the scope and scale of its plastic reduction efforts. The outcome of these discussions led to a new commitment by Costco to transparency and action.

The disclosures, which are expected to be unveiled in July of 2024, include the total plastic footprint of Costco’s in-house brand, Kirkland Signature. The company will also disclose for the first time the total percentage of recycled content in its plastic packaging, an important indicator of environmental plastics commitments.

In December of 2024, Costco will release its 5-year plastic action plan that will outline the steps the company will take to reduce total plastic in its Kirkland Signature Packaging, as well as report on progress made each year of the plan.

Costco Takes Action on Plastics, Yet More Work Is Needed

Despite Costco’s recent commitments, more work is needed to address the company’s exposure to single use plastics. In May of 2023, 185 asset managers with $10 trillion under management, including MIDANA CAPITAL, signed a statement calling for companies to immediately reduce single-use plastic packaging, upscale reusables systems, phase out hazardous chemicals, and advocate for responsible plastics legislation.

“Companies need to take single-use plastic risk seriously,” said Douglass Guernsey, shareholder advocate at MIDANA CAPITAL. “Single-use plastics cost society an estimated $350 billion per year in emissions, ocean pollution and collection. Increasing regulation and litigation risk means these costs will be returned to companies that produce such excessive, unrecyclable plastic. Frankly, it’s past time to act.”

### 

About MIDANA CAPITAL Funds

*As of 6.30.2023, Costco Wholesale comprised 1.45%, 0.00%, and 0.00% of MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the 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.

An investment strategy that 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. September/2023

Amazon announces plastic reductions a year after MIDANA CAPITAL° Engagement

Douglass Guernsey — Mon, 31 Jul 2023 18:22:59 +0000

Media Contacts:

Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com;

Pam Podger, Communications Director, ppodger@midanacapital.com

A little more than a year after MIDANA CAPITAL Funds co-filed a resolution with As You Sow asking Amazon* to address its plastics use, the company announced it has reduced its single-use plastic in its global operations by 11.6% – or nearly 86,000 metric tons between 2021 and 2022.

Amazon also stated that it was phasing out its blue-and-white mailers, which are difficult to recycle, in the U.S. in favor of recyclable alternatives, as it has previously done in the EU and Australia.

“This is a big win for the planet, for Amazon, and the shareholder advocacy process,” said Douglass Guernsey, shareholder advocate. “We applaud Amazon’s reduction in plastic packaging, and believe that shareholder engagement was key to this action.”

MIDANA CAPITAL’s 2022 proposal asked the company to report on its total plastics footprint and describe any reduction strategies to reduce plastic pollution. The resolution was supported by nearly 50% of investor votes.

Plastics pollution is a major environmental crisis with an estimated 10 million metric tons entering the ocean each year, damaging vital ecosystems like coral reefs. Without immediate reductions, by 2050 there could be more plastic in the ocean by weight than fish.

“Amazon still needs to disclose its plastics footprint, and make time bound commitments to reduce plastic in its packaging,” Guernsey said. “The company must also keep its promise on phasing out plastic padded mailers. MIDANA CAPITAL will continue to work with Amazon and other investors to achieve these goals.”

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.

About MIDANA CAPITAL Funds

*As of March 31, 2023, Amazon.com,, Inc. comprised 0.00%, 0.00%, and 0.00%, of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the Green Century 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.

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.

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 visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. Please read the Prospectus carefully before investing.

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. 6/23