Hain Celestial Responds to Shareholder Concerns Regarding Pesticide Risk in its Supply Chain
Hain’s announces response with commitment to disclose information on its pesticide use policies and practices; Trillium and Calvert withdraw shareholder proposal in recognition of Hain’s positive “first steps”
September 8, 2014 // BOSTON, MA: Calvert Investments shareholders and Trillium Asset Management, on behalf of Susan Meade, are pleased to announce the withdrawal of its shareholder proposal at Hain Celestial (NASDAQ: HAIN) which calls for disclosures by the company about pesticide-related risks in its supply chain.
The withdrawal recognizes initiatives that will be disclosed in its next Corporate Sustainability Report, which is scheduled to be published by December 31, 2014. Hain Celestial has committed to disclose:
• Its approach to reducing synthetic pesticides through a commitment to organic and sustainable agriculture (e.g., the percentage of Hain Celestial’s SKUs that are organic, the annual certification process, supplier code of conduct, efforts to migrate non-USDA certified products to certified USDA organic status, and use of organic ingredients in non-certified products.)
• Its approach to testing products for pesticide residues, including use of third party experts to assist in developing and regularly evaluating processes to help meet or exceed industry best practice.
• Efforts throughout the supply chain to reduce the toxicity and amounts of pesticides used.
“Numerous studies have defined pesticide exposure as a growing public health concern. Pesticides impose a heavy burden on farmworkers, adjacent communities, and the environment.” said Trillium’s Vice President, Susan Baker. “We commend Hain for taking important first steps to lessen these burdens and mitigate potential risks in its supply chain.”
Ellen Kennedy, Manager, Environment and Climate Change at Calvert Investments said, “U.S. organic food sales grew to $28 billion in 2012, up 11 percent over 2011. This growth indicates strong consumer interest and demand for reduced pesticide use. Action by Hain to reduce the use of toxic pesticides in its supply chain will help position the company to serve this growing market. ”
For more information: Randy Rice, Trillium Asset Management, (617) 515-6889, email@example.com