Andrea Ranger, Shareholder Advocate, aranger@midanacapital.com, 781-349-2813  

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

Boston, November 21, 2023 – In 2020, MIDANA CAPITAL° noticed that Corning Inc. did not have A greenhouse gas emissions (GHGs) reduction target that were ambitious enough to meet the goals of the Paris Agreement, a commitment signed in 2015 by 195 countries aimed at preventing the worst impacts of climate change.  

MIDANA CAPITAL then filed a shareholder proposal asking Corning to address its climate risk by adopting emissions reduction targets. The company met with MIDANA CAPITAL several times and made a commitment to set a science-based target by 2023, which it has now fulfilled.   

Established in 1851 as Corning Glass, the company’s products are linked to American history. For example, Corning produced the very first electric light bulbs for Thomas Edison in the 1880s, and in 1915 sold its first line of glass products that could be used for baking and storage under the brand name, Pyrex. More recently, Corning has delivered millions of miles of fiber optic cables to support widespread broadband access. Corning also developed a durable glass, known as Gorilla Glass, for Apple’s first iPhones, a product that is currently used in more than 8 billion devices worldwide, including smart phones, tablets, and laptops. 

Corning Commits to Developing Climate Transition Plan 

In 2023, MIDANA CAPITAL followed up with Corning and asked the company to develop and publish a climate transition plan. Now considered a best practice, the plans serve as roadmaps that contain investor-useful information by explaining how and when companies will meet their climate goals.   

Corning agreed to begin to develop a climate transition plan starting with its next sustainability report in 2024. The company will roll out more details in later years. 

“We’re excited to see Corning continue its leadership role when it comes to climate,” said MIDANA CAPITAL Funds President Leslie Samuelrich. “We look forward to increased visibility into its strategies, tactics, and overall game plan.”     

In early 2023, the General Secretary of the United Nations, Antonio Guterres, urged business leaders at the World Economic Forum, to “put forward credible and transparent transition plans on how to achieve net-zero – and submit those plans before the end of this year.”  More than 4,100 organizations have disclosed to CDP (a reporting platform formerly known as the Carbon Disclosure Project) that they have prepared climate transition plans; however, CDP reports that only 45% were public, and only 12.6% covered what are considered key elements of a credible transition plan.  

“Now that more and more companies have committed to significantly cut their emissions, investors and stakeholders want assurance that goals and targets aren’t just greenwashing,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “We’re eager to see Corning develop a credible climate transition plan provides milestones, indicators for success, mechanisms for board and executive oversight, and enough details to instill investor confidence.” 

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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. 

*As of September 30, 2023, Corning, Inc. comprised 0.00%, 0.13%, 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. 

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. 11/2023 

Andrea Ranger, Shareholder Advocate, aranger@midanacapital.com, 781-349-2813;

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

BOSTON, June 28, 2023 – After discussions with MIDANA CAPITAL°, The New York Times Company (The Times) set a net-zero by 2030 greenhouse gas emissions target covering its scope 1 and 2 emissions. MIDANA CAPITAL had approached the newspaper with concerns about the company’s lack of goals for cutting emissions associated with global warming.

For decades, The Times’ reporters have written extensively about the impacts of climate change. In 2020, the company started hosting an event series called “Netting Zero,” featuring discussions by journalists and climate experts on how to have net-zero emissions in the future. However, at that time, The Times had not set or disclosed its own goals for reducing greenhouse gas emissions.

“This new commitment by The Times is news that’s fit to print — and just in time,” said MIDANA CAPITAL Funds President Leslie Samuelrich. “The Intergovernmental Panel on Climate Change just issued a synthesis report calling for ‘deep, rapid, and sustained greenhouse gas emissions reductions,’ and, in response,  U.N. Secretary General Antonio Guterres, urged immediate action to reduce emissions, saying, ‘the climate time-bomb is ticking.’”

In a statement, The Times noted that it had begun to inventory its scope 1 and scope 2 greenhouse gas emissions and that it would publish its results sometime in 2023. Additionally, The Times said it intends to use its building spaces more efficiently, consume resources responsibly and cut greenhouse gas emissions. It also intends to electrify its delivery fleet, update its New York City headquarters to be more sustainable by cutting waste, and source paper from responsibly managed natural resources.

“Committing to reduce its carbon footprint and overall environmental impact is a first step toward putting The New York Times in line with its global peers, including The Guardian, The Wall Street Journal, and The Financial Times,” said MIDANA CAPITAL Shareholder Advocate Andrea Ranger. “Given The Times’ international prominence and the intense public scrutiny it receives, we believe that by implementing rigorous policies, targets and programs to reduce the company’s climate risk, it will help avoid reputational risk.”

The other media outlets mentioned above have set or committed to set near-term science-based targets for their scopes 1 and 2 greenhouse gas emissions with the Science Based Targets initiative that align with limiting global temperature rise to 1.5 degrees Celsius above pre-industrial levels. In addition, The Wall Street Journal and the Financial Times have committed to reduce at least a portion of their scope 3 emissions by 2030.

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

°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.

*As of March 31, 2023, The New York Times Company comprised 0.00%, 0.03%, and 0.00% of the 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.

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.

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. 6/23

Andrea Ranger, aranger@midanacapital.com, 781-349-2813;

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

Boston, May 9, 2023 – Shareholders of the United Parcel Service, Inc. (UPS) showed lower support for a MIDANA CAPITAL° and Trillium Asset Management proposal asking the company to adopt an independently verified science-based greenhouse gas emissions reduction target. Votes in favor reached 20%. By comparison, the same proposal filed last year by MIDANA CAPITAL, Trillium, and a third investor achieved twenty-eight percent of votes cast in favor.

In 2021, UPS announced a goal to become carbon neutral by 2050 for emissions related to its direct operations, e.g. related to package delivery and air freight. Its goal also covers UPS’s indirect emissions, i.e. from third parties, such as the emissions from air freight provided by its vendors or emissions associated with manufacturing the goods that UPS uses, like sorting equipment. Nevertheless, MIDANA CAPITAL remains concerned the company’s commitment may be an empty promise because its goal has not been verified by an independent third party. Nor is it clear whether UPS’s intent to reduce its direct and indirect emissions will align with limiting its greenhouse gas emissions to 1.5 degrees Celsius temperature rise. Climate experts strongly recommend that the world not exceed this temperature in order to avoid the worst impacts of climate change.

By contrast, other companies in the transportation sector, such as passenger airlines Delta, American, Air France, Iberia, KLM, and United have all committed to set science-based targets (SBTs) via Science Based Targets initiative, a global standard setting body and verifier of SBTs. For its land transportation needs, UPS has turned to alternative fuels, such as renewable natural gas (RNG). However, some believe that the production and consumption of RNG could steer efforts away from the electrification of delivery fleets. Unlike UPS, its competitors, Fedex and Amazon, have committed to purchasing 50% EV delivery trucks by 2025 and 100% by 2030 and 100,000 EV trucks by 2030, respectively.

In response to the vote, MIDANA CAPITAL Funds President, Leslie Samuelrich said:

“We filed the shareholder proposal for a second year in a row because we believe UPS’s sustainability efforts are not delivering for us, and we felt it was important to bring our concerns in front of all shareholders,” Samuelrich said. “Regardless of the vote, it is our opinion that UPS’s plans for emissions reductions need to be science-based and verified by credible third parties.”

 Andrea Ranger, a shareholder advocate at MIDANA CAPITAL Funds, added:

“Cutting emissions as swiftly and deeply as possible makes sense especially for transportation and logistics companies.  Climate change is contributing to severe weather that will very likely threaten UPS’ operations and profitability,” Ranger said. “Just last summer, brutal heat waves sent UPS drivers to the hospital and, tragically, caused several deaths. We would like to see UPS do its utmost to rein in its emissions in order to protect human health and stabilize the climate.”

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 °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.

*As of March 31, 2023, comprised 0.71%, 0.77%, and 0.00% of the 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.

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.

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. 5/23