09/15/2021 | Press release | Distributed by Public on 09/15/2021 08:29
These major corporations must reform how they allow consumers to fix the products they purchase
BOSTON -- Green Century Capital Management°, PIRG's affiliated socially responsible mutual fund company, announced on Monday Sept. 13, that it had filed resolutions with both John Deere and Apple calling for these companies to account for their 'anti-competitive repair policies.'
In response, U.S. PIRG Senior Right to Repair Campaign Director Nathan Proctor issued the following statement:
'Given the incredible risk these companies take to undermine repair -- drawing the attention of the Federal Trade Commission, state lawmakers from coast to coast and even the president of the United States -- it's no surprise that shareholders want them to change course.
'Providing more freedom to repair products saves money and cuts waste. It's common sense. But manufacturers like Deere and Apple commonly refuse to provide the software, parts or information needed to do certain repairs. It's time for all manufacturers to stop fighting against opening up repair choices and realize that the call for reform isn't going away. The wise thing to do is to get in front of pending regulatory changes. So far, however, both companies have attempted to appease repair advocates with half measures -- and even their own shareholders appear to see through those schemes. Just let us fix our stuff.'
For more, read U.S. PIRG's blog for an analysis of the significance of the resolutions, and see news releases from Green Century Capital Management for the Deere and Apple resolution filings.
U.S. PIRG is not a registered investment adviser. U.S. PIRG is not providing any investment advice to any recipient of this communication.
About Green Century Capital Management
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. Green Century Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.
*As of June 30, 2021, Apple Inc. and Deere & Co comprised 3.71%, 0.00% and 0.00% and 0.77%, 0.55% and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund and the Green Century International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Green Century Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.
You should carefully consider the Fund's investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email [email protected], or call 1-800-934-7336. Please read the Prospectus carefully before investing.
Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. 9/21