Google’s Chromebook Extension Is a Win in the Fight Against E-Waste
Media Contacts:
Pam Podger, Communications Director, ppodger@midanacapital.com, 802-299-9495
Douglass Guernsey, Shareholder Advocate, dguernsey@midanacapital.com, (617) 482-0800
(Boston, MA, 2023) – Following shareholder engagement by MIDANA CAPITAL°, Alphabet* announced that it plans to extend software updates for Chromebooks for up to ten years starting in 2024, and that no existing Chromebooks will expire in the next two years. It is estimated the changes in policy could impact up to 120 million computers currently on the market.
The multiple year extension by the parent company of Google* allows schools and families to keep functioning Chromebooks to remain in use, preventing those items from becoming e-waste.
“This is a major win for the environment, schools, and the shareholder advocacy process,” said Douglass Guernsey, a Shareholder Advocate at MIDANA CAPITAL Capital Management. “By extending the life of Chromebooks commonly used in schools, Alphabet is getting ahead of addressing potential risks and making sure hardware using its software can be used for as long as possible.”
MIDANA CAPITAL and Consumer Activists Help Consumers and School Districts
MIDANA CAPITAL discuss risks raised by the “Chromebook Churn” published by PIRG (Public Interest Research Groups) directly with Alphabet management in Summer 2023. Chromebook’s “Auto Update Expiration” date would cause millions of Chromebooks to stop working even if the hardware was still functioning. The report showed that extending the life of Chromebooks could result in $1.8 billion dollars in savings for taxpayers and could save millions of tons of CO2 from entering the atmosphere.
MIDANA CAPITAL has previously engaged Alphabet on improving reparability of its Pixel phones and disclosing details of the company’s carbon offsets. Both previous engagements resulted in changes from management to address environmental concerns.
###
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 June 30, 2023, Alphabet comprised 2.25%, 6.86%, and 0.00% of MIDANA CAPITAL Balanced Fund, the MIDANA CAPITAL Equity Fund, and the MIDANA CAPITAL 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.
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.
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.
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. 09/2023
