On Your Behalf - April Report on Socially Responsible Investing
Update on Genetically Modified Organisms
| Whole Foods Shareholders Applaud Company's New Policy to Label Genetically Engineered Foods
Prompted by a shareholder resolution, Whole Foods Market (NASDAQ: WFMI) announced at their annual stockholder meeting on April 4, 2005 in New York City, a new policy of labeling its private label foods to indicate that they are not sourced from genetically engineered seed.
The shareholder group that filed the proposal included Portfolio 21, Progressive Investment Management, Green Century Capital Management, the General Board of Pension and Health Benefits of The United Methodist Church, and Jennifer Clark of Austin, Texas. Their combined holdings in Whole Foods are over 200,000 shares currently worth $20.3 million.
Although Whole Foods and Wild Oats (NASDAQ: OATS) simultaneously announced in October 2001 that their private label brands' ingredients would be sourced exclusively from non-genetically engineered seed, this information had not been conveyed on product labels or packaging. This prompted a group of Whole Foods shareholders to begin pressing for explicit product labels that state that genetically engineered foods were deliberately avoided.
For more details, please read the full press release.
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Through the advances of agricultural science, scientists have identified ways to alter plant DNA. This process, known as genetic modification, yields plants that are believed to be immune to certain herbicides and to certain insects, in much the same manner as humans can become immune and/or made able to resist certain diseases via vaccines and antibiotics. A number of plants have been genetically modified including soybeans. Since many processed foods contain soy, an estimated 30,000 other products could be considered genetically modified.
United Methodist Church's Position on Genetically Modified Organisms
The United Methodist Church has resolved to address the threats to bio and agricultural diversity posed by genetic modification. According to the Resolution 104, "Guidelines for Developing Genetically Modified Organisms," of the Book of Resolutions "Our relationship with creation is one of entrustment. And we have not fulfilled that trust." To that end, the resolution urges caution with regard to genetic modification and urges North American Christians to seek repentance and wisdom regarding the next wave of genetic modification such that we do not hasten the destruction of the earth.
In addition to the Book of Resolutions, the 2004 United Methodist Book of Discipline also acknowledges humanity's mandate to stewardship. Social Principle 162-M of the Discipline reads, "The responsibility of humankind to God's creation challenges us to deal carefully with the possibilities of genetic research and technology. We welcome the use of genetic technology for meeting fundamental human needs for health, safe environment, and an adequate food supply.... Because of the effects of genetic technologies on all life, we call for effective guidelines and public accountability to safeguard against any action that might lead to abuse of these technologies, including political or military ends." Social Principle 160-F of the 2004 Discipline says, "We support policies that protect the food supply.... We call for rigorous inspections and controls on the biological safety of all foodstuffs.... We call for clear labeling of all processed or altered foods, with pre-market safety testing required."
The General Board Responds
In support of UMC Resolution 104 and the UMC social principles, the General Board, in collaboration with the UMC Church and Society, has engaged several companies known to produce or to sell genetically modified vegetation in dialogue, and has taken other action as deemed appropriate. For example, the General Board has filed a shareholder proposal requesting Whole Foods to adopt a policy to identify and to label all Whole Foods private label products with respect to their presence or absence of genetically engineered (GE) ingredients within them, and to report to shareholders by October 2005 on progress toward this implementation. While the proposal did not receive a majority vote, CEO John Mackey announced that the company will begin to label its private label foods that do not contain genetically modified ingredients. The General Board has filed similar proposals with Ruby Tuesday, the Kellogg Company and Safeway. Regarding the Kellogg Company and Safeway Inc. the General Board is requesting them to report on genetically modified foods in reference to the following:
- Scope of products,
- Environmental impacts,
- Contingency plan for removal from the ecosystem should the circumstances warrant, and
- Evidence of long-term testing indicating safety for human and animal consumption and for the environment.
In addition to the concerns raised by the General Board, there are a number of other concerns that are being addressed by various sources with varying self-interests. However, for the moment, testing, labeling and other public disclosure seems sufficient to address consumer confidence and thus to sustain genetic modification. Of course, the ultimate test of the success of genetic modification will be the survival of the planet and its inhabitants.
View a more in-depth look at the theological perspective of genetically modified organisms.
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