April 26, 2017 // Boston, MA – Trillium Asset Management and The Sustainability Group of Loring, Wolcott & Coolidge, have sent a letter to shareholders of PepsiCo, Inc. (NYSE: PEP) urging them to vote in favor of our shareholder proposal regarding Pesticide Pollution. The proposal appears as item #5 on the company’s 2017 proxy card.
Co-filers of the proposal include: Benedictine Sisters of Baltimore, Benedictine Sisters of Mount St. Scholastica, Domini Impact Investments, and School Sisters of Notre Dame Cooperative Investment Fund.
The letter describes our rationale for requesting PepsiCo to report on options to protect public health and pollinators. In March 2017, United Nations experts reported on the negative consequences that pesticide practices have on human health and the environment.
Additionally, numerous reports linking pesticide use to declines in pollinator populations raise important concerns for companies and shareholders since pollinators contribute more than $24 billion to the U.S. economy. As a global food company, PepsiCo is remarkably silent on pesticides relative to peers.
Three-quarters of the U.S. population says it considers sustainability when making food purchasing decisions. PepsiCo has an opportunity to respond to consumer preferences and reduce risks in its supply chain by reporting on its pesticide practices.
Shareholders are requesting:
“the Board publicly report on company strategies and policy options to protect public health and pollinators through reduced pesticide usage in PepsiCo’s supply chain…”
You can read our letter by clicking here.
Contact: Caroline White, Communications Manager, Trillium Asset Management, firstname.lastname@example.org
Trillium Asset Management is the oldest investment advisor focused exclusively on sustainable and responsible investing. Trillium manages over $2 billion in assets for clients including individuals, foundations, endowments, religious institutions, and other non-profits. Trillium leverages the power of stock ownership to promote social and environmental change while providing both impact and performance to our investors. To learn more, please visit www.trilliuminvest.com.
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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