Green Century Commends Nike Resignation from Chamber Board, Urges Full Withdrawal
BOSTON, MA -- The environmentally-responsible Green Century Equity Fund (“Green Century”) commends Nike* for its withdrawal from the U.S Chamber of Commerce Board of Directors but continues to press the company to “Just Do It” and drop its membership in the U.S. Chamber of Commerce (“the Chamber”) completely.
According to Emily Stone, Shareholder Advocate for Green Century Capital Management, “The Green Century Funds applaud Nike for resigning from the Board of Directors of the U.S. Chamber of Commerce. Nike’s resignation is clearly a dramatic blow to the Chamber and illustrates the failure of the Chamber’s last-ditch effort to revise its backwards position on climate policy.” She continued, “We are encouraged that moving forward Nike will continue to evaluate its membership. We will continue to urge the company to preserve its strong record of sustainability leadership by fully withdrawing from the Chamber, as PG&E*, PNM Resources* and Exelon* have all done.”
On September 29th, Green Century sent a letter to Nike urging the company to withdraw from the U.S Chamber due to the severe misalignment of Nike’s position and that of the Chamber on climate change. Green Century, a Nike shareholder, commends Nike in the letter for its leadership on climate issues, including its founding membership in Business for Innovative Climate and Energy Policy (BICEP) and public statements supporting climate legislation and urged the company to withdraw from the Chamber entirely.
Green Century’s letter to Nike can be found here.
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 firstname.lastname@example.org. Please read the prospectus carefully before investing. The Green Century Funds are distributed by UMB Distribution Services, LLC 9/09
* As of June 30, 2009, Nike was not held by the Green Century Balanced Fund and comprised 0.48% of the Green Century Equity Fund. As of June 30, 2009, neither the Green Century Balanced Fund nor the Green Century Equity Fund owned Pacific Gas & Electric Company, PNM Resources or Exelon. 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.
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