For-profit

Green Century Capital Management

Website:

www.greencentury.com

Location:

Boston, MA

Formation:

1991

Green Century Capital Management is a left-leaning investment firm that invests in environmentalist nonprofits and causes. The firm was founded by various groups in the Public Interest Network, including the Fund for the Public InterestU.S. Public Interest Research Group (US-PIRG), and various state Public Interest Research Groups (PIRGs), and is the owner of Green Capital Funds. [1]

Green Century Capital Management is owned by Paradigm Partners, a for-profit holding company investment advisory service firm founded by Public Interest Network president Doug Phelps. Phelps is also a board trustee in Green Century. [2]

The firm claims to only invest in funds that are “fossil fuel free,” intending to differentiate themselves from other investment managers that claim to be “low carbon” or for “climate change solutions.” [3] Their shareholder advocacy focuses on environmentalist advocacy including climate change and “sustainable” agriculture, including promoting renewable energy and water conservation. [4]

Background

According to filings with the U.S. Securities and Exchange Commission, Green Century Capital Management was formed in November 2013 and “is owned by Paradigm Partners, a California general partnership, the partners of which are all not-for-profit advocacy organizations.” The filings identified Public Interest Network figures Doug Phelps and Wendy Wendlandt as “Interested Trustees” of the firm. [5]

According to the firm’s website, it was founded by the California Public Interest Research Group (CALPIRG), Citizen Lobby of New Jersey (NJPIRG), Colorado Public Interest Research Group (COPIRG), ConnPIRG Citizen Lobby, Fund for the Public InterestMassachusetts Public Interest Research Group (MASSPIRG), MOPIRG Citizen Organization, PIRGIM Public Interest Lobby, and Washington State Public Interest Research Group (WASHPIRG). [6]

Supported Issues

In July of 2019, Green Century Capital Management endorsed the Climate Risk Disclosure Act, which would require public companies to disclose their greenhouse gas emissions, and conventional-energy related assets, among other things. [7] This legislation was introduced by U.S. Senator Elizabeth Warren (D-MA) in 2019, and is co-sponsored by several other prominent Democrats, as well as Green New Deal-supporting U.S. Representative Alexandria Ocasio-Cortez (D-NY). [8]

Green Century Capital Management is also supporting the California Deforestation Free Procurement Act by providing $400 billion in assets under management (AUM). [9] This bill is co-sponsored by Friends of the Earth, and two animal-liberation groups, Peace 4 Animals and Social Compassion. The proposed bill would require state-contracted companies to certify that they are doing limited environmental harm in their production. While voluntary corporate pledges are already in place for the production of soy, cattle, and timber, among other things, this bill would enforce new restrictions. Companies found in violation of these new proposed restrictions will face fines and potentially have their contracts canceled. The state, however, would rely on companies to hold themselves accountable, and self-certify, as it would not actively investigate compliance. [10]

Directors, Employees & Supporters

Leslie Samuelrich is the president of Green Century Capital Management, a founding member of the Intentional Endowments Network, and serves on the board of the Forum for Sustainable and Responsible Investment. Samuelrich is the former executive director of Green Corps, and the former chief of staff of Corporate Accountability International. [11]

Kristina Curtis is a senior advisor, and the former senior vice president. She was previously the finance director for the Fund for Public Interest Research. [12]

Wendy Wendlandt has been on the board of directors since 1991. Wendlandt is the senior vice president and political director of the Public Interest Network, and the president of both the Environment America Policy and Research Center, and Environment California. She serves on the board of Green Corps, is senior staff at Fund for the Public Interest, and is director at Fair Share. Previously, she was the political director of U.S. Public Interest Research Group (US-PIRG), and the executive director of Washington PIRG. [13]

Board member Doug Phelps is the president and executive director of the Public Interest Network. Phelps is involved with numerous left-wing organizations including the Fund For The Public Interest, U.S. Public Interest Research Group (US-PIRG), National Environmental Law Center, Green Corps, and Environment America, among others. [14] He is a founding member of the Colorado Democracy Alliance,[15] and president of the Douglas H. Phelps Foundation, his own private grantmaking foundation. [16]

References

  1. “About Us.” Green Century. Accessed October 30, 2019. https://www.greencentury.com/about-us/. ^
  2. U.S. Securities and Exchange Commission. Green Century Funds: Form N-1A Registration Statement. November 27, 2013. Accessed October 30, 2019. https://www.sec.gov/Archives/edgar/data/877232/000119312513456041/d613564d485bpos.htm. ^
  3. “Sustainable Investment Strategy.” Green Century. Accessed October 30, 2019.  https://www.greencentury.com/sustainable-investment-strategy/. ^
  4. “Impact.” Green Century. Accessed October 30, 2019. https://www.greencentury.com/impact/. ^
  5. U.S. Securities and Exchange Commission. Green Century Funds: Form N-1A Registration Statement. November 27, 2013. Accessed October 30, 2019. https://www.sec.gov/Archives/edgar/data/877232/000119312513456041/d613564d485bpos.htm. ^
  6. “About Us.” Green Century. Accessed October 30, 2019. https://www.greencentury.com/about-us/. ^
  7. “Green Century Endorses the Climate Risk Disclosure Act.” Green Century. July 24, 2019. Accessed October 30, 2019.  https://www.greencentury.com/green-century-endorses-the-climate-risk-disclosure-act/. ^
  8. Newburger, Emma. “Elizabeth Warren Reintroduces Legislation Requiring Corporations to Disclose Climate Risk Exposure.” CNBC. July 10, 2019. Accessed October 30, 2019. https://www.cnbc.com/2019/07/10/warren-reintroduces-legislation-requiring-firms-to-disclose-climate-risk.html. ^
  9. “Green Century Mobilizes Investors with $400 Billion in AUM Support of California Deforestation Free Procurement Act.” Green Century. July 12, 2019. Accessed October 30, 2019. https://www.greencentury.com/green-century-mobilizes-investors-with-400-billion-in-aum-in-support-of-california-deforestation-free-procurement-act/. ^
  10. Lustgarten, Abrahm. “Proposed California Law Would Punish Companies for Failing to Limit Harm to the Planet’s Forests.” ProPublica. August 7, 2019. Accessed October 30, 2019. https://www.propublica.org/article/proposed-california-law-would-punish-companies-for-failing-to-limit-harm-to-the-planets-forests#targetText=The%20proposed%20bill%2C%20called%20the,enormous%20stores%20of%20carbon%20dioxide. ^
  11. “Leslie Samuelrich.” LinkedIn. Accessed October 30, 2019. https://www.linkedin.com/in/leslie-samuelrich/. ^
  12. “Kristina Curtis.” LinkedIn. Accessed October 30, 2019. https://www.linkedin.com/in/kristina-curtis-2b728b10/. ^
  13. “Wendy Wendlandt.” LinkedIn. Accessed October 30, 2019. https://www.linkedin.com/in/wendywendlandt/. ^
  14. “Douglas H. Phelps.” The Public Interest Network. Accessed October 30, 2019. https://publicinterestnetwork.org/our-staff-doug-phelps.html. ^
  15. Fender, Jessica. “Progressive Gang Uses Nonprofits to Push Politics.” The Denver Post. October 05, 2008. Accessed October 30, 2019. https://www.denverpost.com/2008/10/05/progressive-gang-uses-nonprofits-to-push-politics/. ^
  16. Douglas H. Phelps Foundation, Return of Private Foundation (Form 990-PF), 2018, Part VIII Line 1a ^

Directors, Employees & Supporters

  1. Kristina Curtis
    Senior Vice President (1991 - Present)
  2. Wendy Wendlandt
    Interested Trustee
  3. Doug Phelps
    Interested Trustee

Coalition Memberships

  1. Public Interest Network (PIN)
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Green Century Capital Management

114 State Street
Suite 200
Boston, MA 02109