DUNKIN DONUTS AGREES TO RUN ON SUSTAINABLE PALM OIL, N.Y. SAYS

(The following is a reformatted version of a press release
issued by the Office of the New York State Comptroller
Thomas P. DiNapoli and received via electronic mail. The release
was confirmed by the sender.) 
DiNAPOLI: DUNKIN DONUTS AGREES TO RUN ON SUSTAINABLE PALM OIL  
New York State Comptroller Thomas P. DiNapoli announced today that Dunkin’ 
Brands Group, owner of Dunkin’ Donuts, has agreed to set a date for 
sourcing 100 percent of the palm oil used to make its products from 
sustainable sources.  
“Dunkin’ Brands should be commended for taking the necessary steps to use 
only sustainably harvested palm oil in its products,” DiNapoli said. 
“Consumers may not realize that many of the foods and cosmetics they eat 
and use contain palm oil that has been harvested in ways that are severely 
detrimental to the environment. Shareholder value is enhanced when 
companies take steps to address the risks associated with environmental 
practices that promote climate change.” 
According to the Rainforest Action Network, palm oil is used in over 50 
percent of all consumer goods and imports to the U.S. have jumped 485 
percent in the last decade.  Production of palm oil from unsustainable 
sources has been found to accelerate deforestation, destroy rain forests 
and promote climate change, all of which present reputational and 
operational risk to companies that participate in the process and 
substantial risk to shareholder value. It has been estimated that 
deforestation and forest degradation account for nearly 20 percent of 
global greenhouse gas emissions. 
In exchange for DiNapoli withdrawing a shareholder resolution that asked 
the company to address the social and environmental concerns associated 
with palm oil production, Dunkin’ Brands Group will: 
· Set a target date in its next Corporate Social Responsibility 
(CSR) report, to be published in the second quarter of 2013 for sourcing 
100 percent sustainable palm oil or for purchasing GreenPalm certificates 
covering 100 percent of sourced palm oil;
·Develop plans in conjunction with its suppliers for independent 
verification of suppliers’ compliance with company policy;
·Include a statement in its 2013 CSR report expressing support for 
a moratorium on palm oil expansion in rainforests and peatlands; and
·Commit to publicly disclosing company progress on this issue in 
future CSR reports. 
In 2010, DiNapoli reached an agreement with Sara Lee Corporation to 
support palm oil produced in an environmentally and socially responsible 
manner by purchasing only from suppliers that are members of the 
Roundtable on Sustainable Palm Oil (RSPO). In 2012, DiNapoli reached an 
agreement with the J.M. Smucker Company to begin purchasing palm oil from 
RSPO certified sources in 2012 and source 100 percent of its direct palm 
oil purchases from responsible and certified sustainable sources by 2015.  
Additionally in 2012, the Comptroller reached agreements with three 
additional companies on ways to address climate risk: CMS Energy agreed to 
provide a unified greenhouse gas reduction target to the Fund by mid-2012, 
Patriot Coal agreed to prepare a report to address environmental harms, 
risks and steps taken to mitigate its mountaintop mining of coal and 
Celgene Corporation agreed to annually report on its environmental, 
economic and social performance. 
In 2013, DiNapoli has filed resolutions with several companies encouraging 
them to foster sustainable business practices by addressing climate change 
risks. Resolutions with electric power providers Ameren, DTE Energy, 
FirstEnergy and SCANA urge the companies to report on actions to increase 
energy efficiency and renewable energy. DTE Energy agreed to the 
Comptroller’s request in late February. 
In November, the Asset Owners Disclosure Project, an international 
not-for-profit global organization whose objective is to protect members' 
retirement savings from the risks posed by climate change by improving the 
level of disclosure and industry best practice, named the New York State 
Common Retirement Fund as the top-ranked United States public pension fund 
in its first-ever global climate investment index. The index shows how 
most of the world’s biggest investors, including pension funds, are 
managing climate risk. 
(rml) NY
 
 
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