Shareholder advocacy progress report
Shareholder advocacy progress report Sept. 30, 2016
Advocacy priorities Environmental sustainability
Issue
Company
Fund holdings
Company engagements
Climate change (greenhouse gas emissions and renewable energy)
AES
Praxis Value Index Fund (0.12%)
Sept. 2016 Sent a letter with other shareholders
Climate change (greenhouse gas emissions and renewable energy)
Duke Energy
Praxis Value Index Fund (0.82%)
Aug. 2016 Dialogued with Duke about its latest sustainability report and what investors would like to see from the company moving forward. Key points of conversation were Duke’s long-range planning documents detailing infrastructure needs, fuel mix and demand trajectories. Aug. 2016 Sent letter to Duke asking for a discussion about details of the company’s coal ash management that are not available in current public disclosures.
Corporation
Fund holdings listed are as of Sept. 30, 2016, and are subject to change. To obtain holdings as of the most previous quarter, visit praxismutualfunds.com. The Fund’s stewardship investing strategy could cause the fund to sell or avoid securities that may subsequently perform well, and the application of social screens may cause the fund to lag the performance of its index.
asking AES Corporation – a carbon-intensive utility – how it is planning for the future envisioned by the 2015 Paris Agreement. AES’s future business model is key to the success of the global agreement to keep the increase in global average temperatures caused by climate change within 2 degrees Celsius.
A fund family of Everence
You should consider the fund’s investment objectives, risks and charges and expenses carefully before you invest. The fund’s prospectus or summary prospectus contains this and other information. Call (800) 977-2947 or visit praxismutualfunds.com for a prospectus or summary prospectus, which you should read carefully before you invest. Praxis Mutual Funds are advised by Everence Capital Management and distributed through BHIL Distributors LLC, member FINRA/SIPC. Investment products offered are not FDIC insured, may lose value and have no bank guarantee.
2161067
Advocacy priorities Environmental sustainability (continued)
Issue
Company
Eco-efficiency
Numerous
Fund holdings
Company engagements Aug. 2016 Signed investor letters addressed to
many companies promoting eco-efficiency – or the efficient use of energy, water and other natural resources and the elimination of wastes – as a good way to reduce operational costs, mitigate supply chain and climate change risk, and achieve corporate sustainability goals. Chemicals of concern
U.S. Food
Sept. 2016 The U.S. Food and Drug Administration removed triclosan and triclocarban from certain antibacterial hand and body washes, citing corporate failure to demonstrate that these chemicals are both safe and effective. For more than five years, Praxis and other investors have encouraged companies to stop using these chemicals.
and Drug Administration
Antibiotic resistance
McDonald’s
Antibiotic resistance
Yum Brands
Antimicrobial resistance
United Nations
Modern slavery Ethical labor recruitment practices
Target
Responsibility engagements
Securities and
Mandatory sustainability disclosures
Exchange Commission
Praxis Growth Index Fund (0.74%) Praxis Value Index Fund (0.66%)
July 2016 Sent follow-up letter to McDonald’s
asking it to phase out routine use of antibiotics in livestock production. The letter praised McDonald’s for its leadership in reducing antibiotics in poultry production, and pressed the company to extend its efforts to pork and beef.
Praxis Growth Index July 2016 Sent follow-up letter to Yum Brands that Fund (0.32%) asked it to phase out routine use of antibiotics in livestock production. The letter welcomed Yum’s progress on developing a comprehensive policy on the issue, and asked for its continued attention to it. Sept. 2016 Participated in investor statement on antibiotic use in livestock and its contribution to antimicrobial resistance, ahead of a United Nations meeting on the issue. The statement notes the role investors can play and shows support for a multisectoral approach to address the problem.
Praxis Growth Index Fund (0.08%) Praxis Value Index Fund (0.50%)
Sept. 2016 Target announced it would join the
Shrimp Sustainable Supply Chain Task Force, something shareholders have long been asking for. This task force helps to ensure Thailand’s seafood supply chain effectively addresses the risks of forced labor and human trafficking. July 2016 Sent a letter to the Securities and Exchange Commission during its public comment period supporting a move to include sustainability in public policy disclosures. Praxis supports increased corporate disclosure on environmental, social and governance factors.
Fund holdings listed are as of Sept. 30, 2016, and are subject to change. To obtain holdings as of the most previous quarter, visit praxismutualfunds.com. The Fund’s stewardship investing strategy could cause the fund to sell or avoid securities that may subsequently perform well, and the application of social screens may cause the fund to lag the performance of its index.
You should consider the fund’s investment objectives, risks and charges and expenses carefully before you invest. The fund’s prospectus or summary prospectus contains this and other information. Call (800) 977-2947 or visit praxismutualfunds.com for a prospectus or summary prospectus, which you should read carefully before you invest. Praxis Mutual Funds are advised by Everence Capital Management and distributed through BHIL Distributors LLC, member FINRA/SIPC. Investment products offered are not FDIC insured, may lose value and have no bank guarantee. 2161067
Advocacy priorities Environmental sustainability
Issue
Company
Fund holdings
Company engagements
Climate change (greenhouse gas emissions and renewable energy)
AES
Praxis Value Index Fund (0.12%)
Sept. 2016 Sent a letter with other shareholders
Climate change (greenhouse gas emissions and renewable energy)
Duke Energy
Praxis Value Index Fund (0.82%)
Aug. 2016 Dialogued with Duke about its latest sustainability report and what investors would like to see from the company moving forward. Key points of conversation were Duke’s long-range planning documents detailing infrastructure needs, fuel mix and demand trajectories. Aug. 2016 Sent letter to Duke asking for a discussion about details of the company’s coal ash management that are not available in current public disclosures.
Corporation
Fund holdings listed are as of Sept. 30, 2016, and are subject to change. To obtain holdings as of the most previous quarter, visit praxismutualfunds.com. The Fund’s stewardship investing strategy could cause the fund to sell or avoid securities that may subsequently perform well, and the application of social screens may cause the fund to lag the performance of its index.
asking AES Corporation – a carbon-intensive utility – how it is planning for the future envisioned by the 2015 Paris Agreement. AES’s future business model is key to the success of the global agreement to keep the increase in global average temperatures caused by climate change within 2 degrees Celsius.
A fund family of Everence
You should consider the fund’s investment objectives, risks and charges and expenses carefully before you invest. The fund’s prospectus or summary prospectus contains this and other information. Call (800) 977-2947 or visit praxismutualfunds.com for a prospectus or summary prospectus, which you should read carefully before you invest. Praxis Mutual Funds are advised by Everence Capital Management and distributed through BHIL Distributors LLC, member FINRA/SIPC. Investment products offered are not FDIC insured, may lose value and have no bank guarantee.
2161067
Advocacy priorities Environmental sustainability (continued)
Issue
Company
Eco-efficiency
Numerous
Fund holdings
Company engagements Aug. 2016 Signed investor letters addressed to
many companies promoting eco-efficiency – or the efficient use of energy, water and other natural resources and the elimination of wastes – as a good way to reduce operational costs, mitigate supply chain and climate change risk, and achieve corporate sustainability goals. Chemicals of concern
U.S. Food
Sept. 2016 The U.S. Food and Drug Administration removed triclosan and triclocarban from certain antibacterial hand and body washes, citing corporate failure to demonstrate that these chemicals are both safe and effective. For more than five years, Praxis and other investors have encouraged companies to stop using these chemicals.
and Drug Administration
Antibiotic resistance
McDonald’s
Antibiotic resistance
Yum Brands
Antimicrobial resistance
United Nations
Modern slavery Ethical labor recruitment practices
Target
Responsibility engagements
Securities and
Mandatory sustainability disclosures
Exchange Commission
Praxis Growth Index Fund (0.74%) Praxis Value Index Fund (0.66%)
July 2016 Sent follow-up letter to McDonald’s
asking it to phase out routine use of antibiotics in livestock production. The letter praised McDonald’s for its leadership in reducing antibiotics in poultry production, and pressed the company to extend its efforts to pork and beef.
Praxis Growth Index July 2016 Sent follow-up letter to Yum Brands that Fund (0.32%) asked it to phase out routine use of antibiotics in livestock production. The letter welcomed Yum’s progress on developing a comprehensive policy on the issue, and asked for its continued attention to it. Sept. 2016 Participated in investor statement on antibiotic use in livestock and its contribution to antimicrobial resistance, ahead of a United Nations meeting on the issue. The statement notes the role investors can play and shows support for a multisectoral approach to address the problem.
Praxis Growth Index Fund (0.08%) Praxis Value Index Fund (0.50%)
Sept. 2016 Target announced it would join the
Shrimp Sustainable Supply Chain Task Force, something shareholders have long been asking for. This task force helps to ensure Thailand’s seafood supply chain effectively addresses the risks of forced labor and human trafficking. July 2016 Sent a letter to the Securities and Exchange Commission during its public comment period supporting a move to include sustainability in public policy disclosures. Praxis supports increased corporate disclosure on environmental, social and governance factors.
Fund holdings listed are as of Sept. 30, 2016, and are subject to change. To obtain holdings as of the most previous quarter, visit praxismutualfunds.com. The Fund’s stewardship investing strategy could cause the fund to sell or avoid securities that may subsequently perform well, and the application of social screens may cause the fund to lag the performance of its index.
You should consider the fund’s investment objectives, risks and charges and expenses carefully before you invest. The fund’s prospectus or summary prospectus contains this and other information. Call (800) 977-2947 or visit praxismutualfunds.com for a prospectus or summary prospectus, which you should read carefully before you invest. Praxis Mutual Funds are advised by Everence Capital Management and distributed through BHIL Distributors LLC, member FINRA/SIPC. Investment products offered are not FDIC insured, may lose value and have no bank guarantee. 2161067
