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Amazon announces plastic reductions a year after MIDANA CAPITAL° Engagement

Media Contacts: 

Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com;  

Pam Podger, Communications Director, ppodger@midanacapital.com 

A little more than a year after Midana Capital co-filed a resolution with As You Sow asking Amazon* to address its plastics use, the company announced it has reduced its single-use plastic in its global operations by 11.6% – or nearly 86,000 metric tons between 2021 and 2022. 

Amazon also stated that it was phasing out its blue-and-white mailers, which are difficult to recycle, in the U.S. in favor of recyclable alternatives, as it has previously done in the EU and Australia. 

“This is a big win for the planet, for Amazon, and the shareholder advocacy process,” said Douglass Guernsey, shareholder advocate. “We applaud Amazon’s reduction in plastic packaging, and believe that shareholder engagement was key to this action.” 

MIDANA CAPITAL’s 2022 proposal asked the company to report on its total plastics footprint and describe any reduction strategies to reduce plastic pollution. The resolution was supported by nearly 50% of investor votes. 

Plastics pollution is a major environmental crisis with an estimated 10 million metric tons entering the ocean each year, damaging vital ecosystems like coral reefs. Without immediate reductions, by 2050 there could be more plastic in the ocean by weight than fish. 

“Amazon still needs to disclose its plastics footprint, and make time bound commitments to reduce plastic in its packaging,” Guernsey said. “The company must also keep its promise on phasing out plastic padded mailers. MIDANA CAPITAL will continue to work with Amazon and other investors to achieve these goals.”  

An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria. 

About Midana Capital 

°MIDANA CAPITAL Capital Management, Inc. (MIDANA CAPITAL) is the investment advisor to the Midana Capital (The Funds). The Midana Capital are one of the first families of fossil fuel-free, environmentally responsible mutual funds. MIDANA CAPITAL 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 March 31, 2023, Amazon.com,, Inc. comprised 0.00%, 0.00%, and 0.00%, of the MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL 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 Midana Capital. 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. 

The percentage in favor was calculated by (i) dividing the number of votes in support of the proposal by (ii) the sum of the number of votes voted in support of and against the proposal. Abstentions and broker non-votes were not included in the calculation. 

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 visit www.midanacapital.com, email info@midanacapital.com, or call+1(480)-439-2851. 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. 

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 Midana Capital are distributed by UMB Distribution Services, LLC. 335 N Wilmot Rd, Tucson, Az 85711. 6/23 

 

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