2010 Will Be Record-Setting Campaign Season for Green Century
Shareholder Advocacy Program Having Filed More Resolutions Than Ever Before
Boston, MA, January 8, 2010––Green Century Capital Management, Inc. (Green Century), the Boston-based environmentally responsible investment advisor and manager of the Green Century Funds, announces that the 2010 proxy season will be a record-setting year for its shareholder advocacy program. Since August, Green Century has filed 20 resolutions, more than it had in any prior proxy season, asking companies to take action on critical environmental issues including the impacts of Canadian tar sands oil extraction, coal ash, water use by electric utilities, the impacts of natural gas hydraulic fracturing and the disclosure of political contributions.
“At Green Century, we believe environmentally responsible investing is about more than not investing in environmentally irresponsible companies,” says Larisa Ruoff, Director of Shareholder Advocacy. “We have the right and the responsibility to hold companies accountable for their environmental performance. Environmentally-destructive practices and policies are not just bad for the planet—they can also create significant risks and disadvantages for companies,” she continues.
In the last three months, Green Century sent over 50 letters to CEOs and other corporate leaders urging changes to company policies and practices. Many of the letters were sent to companies that support climate change legislation, encouraging these firms to distance themselves from the backward positions of the U.S. Chamber of Commerce on climate change. In some cases, the letters led to constructive dialogue between Green Century and these companies.
Green Century’s advocacy team is also engaging Congress as it debates climate legislation. In December, Green Century coordinated a letter to the U.S. Senate opposing carbon-intensive fuels such as tar sands, coal-to-liquid, and oil shale. The letter was signed by financial services organizations and shareholder advocacy groups representing approximately $127.5 billion in assets under management.
“We are committed to fostering a more sustainable economy and we believe our record-setting advocacy efforts will contribute to a healthier, more sustainable world,” said Ruoff.
Green Century Capital Management is an investment advisory firm focused on environmentally responsible investing. Founded by a partnership of non-profit environmental advocacy organizations in 1991, Green Century's mission is to provide people who care about a clean, healthy planet the opportunity to use the clout of their investment dollars to encourage environmentally responsible corporate behavior. Green Century believes that shareholder advocacy is a critical component of responsible investing and actively advocates for greater corporate environmental accountability.
You should consider the Green Century Funds' investment objectives, risks, charges, and expenses carefully before investing. For a prospectus that contains this and other information about the Funds, call 1-800-93-GREEN, visit www.greencentury.com or email email@example.com. Please read the prospectus carefully before investing.
The Green Century Funds are distributed by UMB Distribution Services, LLC 1/10
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