Shareholder Advocacy: Engagements with Companies
Green Century believes it is important to pressure a wide variety of companies to become more environmentally responsible, including those with the most egregious impact on the environment. As a result, we advocate for change at some companies that neither of the Green Century Funds invest in because they do not pass our Funds' screens for environmental responsibility.
Climate and Energy
ExxonMobil Corporation*: Green Century filed a resolution asking the company to prepare a report discussing possible long-term risks to the company’s finances and operations posed by the environmental, social and economic challenges associated with the oil sands.
ConocoPhillips*: Green Century filed a resolution asking the company to prepare a report on the environmental damage that would result from the company’s expanding oil sands operations in the Canadian boreal forest.
Southern Company*: Green Century filed a resolution asking the company to prepare a report on the company’s efforts, above and beyond current compliance, to reduce environmental and health hazards associated with coal combustion waste, and how those efforts may reduce legal, reputational and other risks to the company’s finances and operations.
FirstEnergy Corporation*: Green Century filed a resolution asking the company to prepare a report on the company’s efforts, above and beyond current compliance, to reduce environmental and health hazards associated with coal combustion waste, and how those efforts may reduce legal, reputational and other risks to the company’s finances and operations. Green Century withdrew the resolution after FirstEnergy agreed to publicly commit to a long-term strategy of using only dry storage to manage its coal ash and disclosed plans to stop using its enormous 1,000-acre ash storage pond in Pennsylvania.
Xcel Energy Inc.*: Green Century filed a resolution asking the company to prepare a report on the company’s efforts, above and beyond current compliance, to reduce environmental and health hazards associated with coal combustion waste, and how those efforts may reduce legal, reputational and other risks to the company’s finances and operations.
Wilderness and Biodiversity
Costco Wholesale Corporation*: Green Century filed a resolution asking the company to prepare a sustainability report including strategies to reduce greenhouse gas emissions and addressing other environmental and social impacts of Costco’s operations such as water use and seafood sustainability. Green Century withdrew the resolution after Costco released its first sustainability report that covered greenhouse gas emissions and included the company’s strategy and objectives for sustainably sourced seafood.
Safeway, SYSCO, Target, Wal-Mart*: Green Century sent letters encouraging these retailers to adopt strong sustainable procurement policies for seafood and commit to stop selling the most critically depleted species.
Toxics and Environmental Health
Occidental Petroleum Corporation*: Green Century filed a resolution asking the company to prepare a report on the implications of a policy for reducing potential harm and the number of people in danger from potential catastrophic chemical releases by increasing the inherent security of OxyChem facilities through steps including reducing the use, storage and transportation of extremely hazardous substances, reengineering processes, and locating facilities outside high-population areas.
Whole Foods Market Inc.*: Green Century has been engaging in dialogue with Whole Foods since 2006 on the issue of bisphenol A (BPA). After the company agreed to eliminate BPA from bottles sold in the store, Green Century is now pressuring Whole Foods to use BPA-free can linings for its private-label canned goods.
Dow Chemical Company*: Green Century is pressuring Dow Chemical, a major producer of BPA, to stop selling BPA for potentially harmful uses and proactively contribute to the development of BPA-free can linings.
Packaged food/beverage companies and BPA: Green Century continues to pressure packaged food and beverage companies, including Campbell’s Soup Company*, H.J. Heinz*, Hain Celestial*, Kellogg*, and PepsiCo*, to explore and implement BPA-free packaging for all canned products.
Corporate Accountability and Responsibility
Family Dollar Stores*: Green Century filed a resolution asking the company to prepare a sustainability report including strategies to reduce greenhouse gas emissions and addressing other environmental and social impacts. Green Century withdrew the resolution after the company agreed to produce a sustainability report by June 2010.
K.B Home*: Green Century filed a resolution encouraging KB to increase its disclosure of political spending, including annual disclosure of all contributions made with corporate funds and dues paid to trade associations and other tax-exempt groups.
Hess Corporation*: Green Century filed a resolution encouraging Hess to increase its disclosure of political spending, including annual disclosure of all contributions made with corporate funds and dues paid to trade associations and other tax-exempt groups.
Nucor Corporation*: Green Century filed a resolution encouraging Nucor to increase its disclosure of political spending, including annual disclosure of all contributions made with corporate funds and dues paid to trade associations and other tax-exempt groups.
Pulte Homes, Inc.*: Green Century filed a resolution encouraging Pulte to increase its disclosure of political spending, including annual disclosure of all contributions made with corporate funds and dues paid to trade associations and other tax-exempt groups.
U.S. Chamber of Commerce and climate change: Green Century has sent letters to and/or engaged in dialogue with over 40 companies that support political action on climate, encouraging these companies to voice their disagreement with the U.S. Chamber's antagonistic lobbying against strong climate legislation.
Water
Alliant Energy*, Avista Corporation*, Calpine Corporation*, Cleco Corporation*, IDACORP, Inc.*, Madison Gas and Electric*, NiSource Inc.*, OGE Energy Corporation*, and Portland General Electric*: Green Century sent letters encouraging these electric companies to address the business risks faced by companies that produce energy using traditional power plants and urged the companies to disclose their water use and invest in less water intensive generation methods.
NiSource Inc.*: Green Century filed a resolution with NiSource asking the company to publicly disclose the amount of water withdrawn in its thermoelectric production and encourages it to explore investments in less water intensive generation methods such as wind. Green Century withdrew its resolution after the company agreed to comprehensively disclose its water use and its commitment to less water intensive generation methods.
EOG Resources*: Green Century filed a resolution encouraging EOG to prepare a report disclosing the environmental impacts of the company’s hydraulic fracturing operations and to take measures to reduce or eliminate hazards to air, water and soil quality, including switching to less toxic fracturing fluids.
Williams Companies, Inc.*: Green Century filed a resolution encouraging Williams to prepare a report disclosing the environmental impacts of the company’s hydraulic fracturing operations and to take measures to reduce or eliminate hazards to air, water and soil quality, including switching to less toxic fracturing fluids.
Chesapeake Energy Corporation*: Green Century filed a resolution encouraging Chesapeake to prepare a report disclosing the environmental impacts of the company’s hydraulic fracturing operations and to take measures to reduce or eliminate hazards to air, water and soil quality, including switching to less toxic fracturing fluids.
Ultra Petroleum*: Green Century co-filed a resolution with As You Sow encouraging Ultra to prepare a report disclosing the environmental impacts of the company’s hydraulic fracturing operations and to take measures to reduce or eliminate hazards to air, water and soil quality, including switching to less toxic fracturing fluids.
XTO Energy*: Green Century co-filed a resolution encouraging XTO to prepare a report disclosing the environmental impacts of the company’s hydraulic fracturing operations and to take measures to reduce or eliminate hazards to air, water and soil quality, including switching to less toxic fracturing fluids.
Food and Agriculture
Chipotle Mexican Grill, Inc.*: Green Century co-filed a resolution with Trillium Asset Management and Calvert Investments encouraging Chipotle to produce a report disclosing how the company is reducing pesticide use throughout its supply chain.
*As of March 31, 2010, neither the Green Century Equity Fund nor the Green Century Balanced Fund was invested in ExxonMobil Corporation, ConocoPhillips, Southern Company, First Energy Corporation, Xcel Energy Inc., Wal-Mart, Occidential Petroleum Corporation or Dow Chemical Company. As of March 31, 2010 Costco Wholesale Corporation comprised 1.21% of the Green Century Balanced Fund and 0.49% of the Green Century Equity Fund; Safeway comprised 0.00% of the Green Century Balanced Fund and 0.19% of the Green Century Equity Fund; SYSCO comprised 1.03% of the Green Century Balanced Fund and 0.32% of the Green Century Equity Fund; Target Corporation comprised 0.00% of the Green Century Balanced Fund and 0.73% of the Green Century Equity Fund; Whole Foods Market Inc. comprised 0.54% of the Green Century Balanced Fund and 0.11% of the Green Century Equity Fund; Campbell’s Soup Company comprised 0.00% of the Green Century Balanced Fund and 0.17% of the Green Century Equity Fund; H.J Heinz comprised 0.00% of the Green Century Balanced Fund and 0.27% of the Green Century Equity Fund; Hain Celestial comprised 0.00% of the Green Century Balanced Fund and 0.01% of the Green Century Equity Fund; Kellogg comprised 0.00% of the Green Century Balanced Fund and 0.28% of the Green Century Equity Fund; PepsiCo comprised 0.00% of the Green Century Balanced Fund and 1.98% of the Green Century Equity Fund; Family Dollar Store comprised 0.00% of the Green Century Balanced Fund and 0.09% of the Green Century Equity Fund; K.B.Home comprised 0.00% of the Green Century Balanced Fund and 0.03% of the Green Century Equity Fund; Hess Corporation comprised 0.00% of the Green Century Balanced Fund and 0.37% of the Green Century Equity Fund; Nucor Corporation comprised 0.00% of the Green Century Balanced Fund and 0.26% of the Green Century Equity Fund; Pulte Homes Inc. comprised 0.00% of the Green Century Balanced Fund and 0.08% of the Green Century Equity Fund; Alliant Energy comprised 0.00% of the Green Century Balanced Fund and 0.07% of the Green Century Equity Fund; Avista Corporation comprised 0.00% of the Green Century Balanced Fund and 0.02% of the Green Century Equity Fund; Calpine Corporation comprised 0.00% of the Green Century Balanced Fund and 0.07% of the Green Century Equity Fund; Cleco Corporation comprised 0.00% of the Green Century Balanced Fund and 0.03% of the Green Century Equity Fund; IDACORP Inc. comprised 0.00% of the Green Century Balanced Fund and 0.03% of the Green Century Equity Fund; Madison Gas and Electric comprised 0.00% of the Green Century Balanced Fund and 0.00% of the Green Century Equity Fund; NiSource Inc. comprised 0.00% of the Green Century Balanced Fund and 0.08% of the Green Century Equity Fund; OGE Energy comprised 0.00% of the Green Century Balanced Fund and 0.06% of the Green Century Equity Fund; Portland General Electric comprised 0.00% of the Green Century Balanced Fund and 0.03% of the Green Century Equity Fund; EOG Resources comprised 0.00% of the Green Century Balanced Fund and 0.43% of the Green Century Equity Fund; Williams Companies Inc. comprised 0.00% of the Green Century Balanced Fund and 0.25% of the Green Century Equity Fund; Chesapeake comprised 0.00% of the Green Century Balanced Fund and 0.28% of the Green Century Equity Fund; Ultra Petroleum comprised 0.00% of the Green Century Balanced Fund and 0.12% of the Green Century Equity Fund; XTO Energy comprised 0.00% of the Green Century Balanced Fund and 0.50% of the Green Century Equity Fund; Chipotle Mexican Grill Inc. comprised 0.44% of the Green Century Balanced Fund and 0.00% of the Green Century Equity Fund.
Portfolio composition will change due to ongoing management of the Funds. Please refer to the Green Century Funds website for current information regarding the Funds' portfolio holdings. These holdings are subject to risk as described in the Funds' prospectus. References to specific investments should not be construed as a recommendation of the securities by the Funds, their administrator, or their distributor.
