APRIL 7, 2016: Trillium Asset Management and The Sustainability Group of Loring, Wolcott & Coolidge, along with Green Century Funds, have published a letter to shareholders of PepsiCo, Inc. (NYSE: PEP) urging them to vote in favor or our Pollinator Protection proposal, which appears as item # 6 on the company’s 2016 proxy card. Shareholders will vote on the proposal at the Pepsico’s annual meeting, which takes place on May 4, 2016.
The use of neonicotinoids (neonics), a class of insecticide linked to dangerous declines in pollinators and other beneficial organisms, is a growing public concern. Multi-year double digit declines in pollinators in the United States and Europe pose risks to our food system. According to the United States Department of Agriculture, “bee-pollinated commodities account for $20 billion in annual United States agricultural production and $217 billion worldwide.”
More than 90 percent of corn and 30 – 40 percent of soybeans planted in the United States are pre-treated with neonics, even as questions about the benefits of neonics on crop yields are being raised. Pepsico is a major purchaser of corn, oats and potatoes — crops routinely pre-treated with neonics.
Shareholders are requesting that:
“…within six months of the 2016 annual meeting, the Board publish a report, at reasonable expense and omitting proprietary information on the Company’s options to minimize impacts on pollinators of neonics in its supply chain.”
You can read more about our rationale for a “Yes” vote by clicking here.
For more information: Randy Rice, Trillium Asset Management, firstname.lastname@example.org, 617-515-6889
Important disclosure: The information provided in this material should not be considered a recommendation to buy or sell the security mentioned. It should not be assumed that investments in such security has been or will be profitable. To the extent a specific security is mentioned, it was selected by the authors on an objective basis to illustrate views expressed in the commentary and it does not represent all of the securities purchased, sold or recommended for advisory clients. The information contained herein has been prepared from sources believed reliable but is not guaranteed as to its timeliness or accuracy, and is not a complete summary or statement of all available data. This piece is for informational purposes and should not be construed as a research report.
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