{"id":195,"date":"2021-09-15T13:40:07","date_gmt":"2021-09-15T17:40:07","guid":{"rendered":"https:\/\/dev.pirg-test.com\/northcarolina\/edfund\/articles\/apple-and-john-deere-shareholders-file-resolutions-questioning-their-anti-repair\/"},"modified":"2022-08-06T07:17:00","modified_gmt":"2022-08-06T11:17:00","slug":"apple-and-john-deere-shareholders-file-resolutions-questioning-their-anti-repair-stances","status":"publish","type":"article","link":"https:\/\/dev.pirg-test.com\/northcarolina\/edfund\/articles\/apple-and-john-deere-shareholders-file-resolutions-questioning-their-anti-repair-stances\/","title":{"rendered":"Apple* and John Deere* shareholders file resolutions questioning their anti-repair stances"},"featured_media":12363,"template":"","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":false,"_yoast_wpseo_meta-robots-nofollow":false,"_yoast_wpseo_opengraph-title":"","_yoast_wpseo_opengraph-description":"","_yoast_wpseo_twitter-title":"","_yoast_wpseo_twitter-description":""},"campaign_tax":[141],"display_option":[],"issue_tax":[],"person_tax":[],"region_tax":[],"state":[5,7,8,9,12,13,16,18,23,24,25,28,29,2,32,33,34,36,38,40,41,42,46,50,52],"topic_tax":[125],"class_list":["post-195","article","type-article","status-publish","hentry"],"acf":{"details":{"helper_taxonomies":{"topics":[125],"collection":false,"press_type":false,"person_type":false,"resource_type":false,"event_type":false,"campaigns":141,"department":false,"level":false,"states":[2,5,7,8,9,12,13,16,18,23,24,25,28,29,32,33,34,36,38,40,41,42,46,50,52],"act_option":false,"display_option":false,"primary":{"topic":125}},"featured_image":12363,"caption_override":"","excerpt":"Shareholders press these leading Right to Repair opponents to explain themselves as regulatory pressure mounts\u00a0","updated_on":null,"sidebar_action":null,"hide_hero_image":false,"sidebar_action_query_string":""},"helper_people_group":{"title":"Authors","entities":[{"type":"dynamic","dynamic_person":{"site":16,"people":"131"},"information":{"name":"","image":"","role":"","biography":"","contact":{"twitter":"","facebook":"","email":"","phone":""}}}]},"page_layout":[{"acf_fc_layout":"layout_wysiwyg","_acfe_flexible_toggle":"","component_wysiwyg":{"content":"

On Monday, September 13, Green Century Capital Management\u00b0, PIRG\u2019s affiliated socially responsible mutual fund company, announced that it had filed resolutions with both John Deere<\/a> and Apple<\/a> calling for an account on the companies\u2019 \u201canti-competitive repair policies.\u201d\u00a0<\/p>\n

The resolutions represent an increase in pressure on both companies to resolve the way in which they restrict certain repairs to their \u201cauthorized\u201d repair shops with proprietary repair materials.\u00a0<\/p>\n

\u201cInvestors are extremely concerned about Apple\u2019s disingenuous combination of promoting environmental sustainability while inhibiting product repair,\u201d said Green Century President Leslie Samuelrich. Regarding Deere, Samuelrich explained: \u201cDepriving farmers of the ability to fix their machinery runs counter to the ethos founder John Deere surely set for this iconic brand. Now, for the betterment of the company and all Americans, it must stop.\u201d<\/p>\n

Just let us fix stuff\u00a0<\/strong><\/p>\n

It\u2019s common sense: When things break, you fix them or take them to your preferred repair shop. But when only the manufacturer has the ability to repair something \u2014 whether it be a tablet or a tractor \u2014 they can charge us whatever for their work. They can also push us into buying a brand new product altogether, adding to our waste problems.<\/p>\n

That\u2019s why U.S. PIRG is pressing for Right to Repair reforms<\/a>, which require manufacturers to provide access to what we need to fix modern equipment such as diagnostic software, spare parts and service documentation.\u00a0<\/p>\n

These reforms have been met with full-throated opposition from major manufacturers, including John Deere<\/a> and Apple<\/a>, which have been two of the most prominent opponents. But despite the avalanche of lobbying<\/a> against Right to Repair, pressure has been mounting for change.\u00a0<\/p>\n

President Joe Biden issued an executive order<\/a> calling for action to stop repair restrictions, and specifically named farm equipment and smartphones<\/a> as areas to target enforcement. The Federal Trade Commission (FTC) has also signaled it will begin enforcing violations<\/a> to antitrust laws regarding repair. Meanwhile, 27 states<\/a> and the U.S. Congress<\/a> have introduced legislation so far in 2021.\u00a0<\/p>\n

Frankly, it is no surprise that shareholders in Deere and Apple are wondering whether these companies\u2019 stances are inviting trouble and risk for shareholders.\u00a0\u00a0<\/p>\n

Deere probed about its double-talk on repair\u00a0<\/strong><\/p>\n

Shareholders are raising questions about how the companies have attempted to spin their approach to repair.\u00a0<\/p>\n

Both corporations make their products in such a way that requires the use of proprietary tools to conduct many repairs. For example, John Deere equipment repair might require a calibration process to finalize installation of a spare part. This function is limited to software tools only available to dealerships<\/a>.\u00a0<\/p>\n

Green Century Capital Management notes that Deere \u201crepresentatives are quick to point out that less than 2% of all repairs require a software update.\u201d However, shareholders are assuming big-time risks \u2014 the risk of new regulation, antitrust enforcement and permanent brand damage \u2014 for what the company insists<\/a> is a tiny portion of repairs. Why not just find a resolution to those 2% of repairs and avoid all this trouble?\u00a0<\/p>\n

\u201cDeere\u2019s approach flies in the face of the ingenuity and self-reliance that are at the heart of America\u2019s great agricultural tradition,\u201d says<\/a> Green Century\u2019s Samuelrich.\u00a0<\/p>\n

Apple repair stance undermines environmental record\u00a0<\/strong><\/p>\n

Apple has ambitious climate<\/a> and environmental<\/a> goals and is often lauded for leadership on issues of sustainability. That said, its stance on repair, especially the company\u2019s very prominent anti-Right to Repair lobbying<\/a>, has damaged Apple\u2019s environmental reputation<\/a>.\u00a0<\/p>\n

In their news release, Samuelrich notes<\/a>: \u201cThe company risks losing its reputation as a climate leader if it does not cease its anti-repair practices.\u201d\u00a0<\/p>\n

The release also points out the stakes of undermining repair: \u201cElectronic waste is the world\u2019s fastest growing waste stream, and by 2040 internet-connected devices will account for 14% of all greenhouse gas emissions. Access to product repair is critical for extending the lifespan of electronic devices, thereby preventing wasted resources and reducing emissions \u2026 Green Century will press Apple to reverse its anti-repair practices in order to mitigate regulatory and reputational risks and bolster the company\u2019s ambitious climate commitments.\u201d<\/p>\n

As support for Right to Repair continues to grow \u2014 from coast to coast and even in the White House \u2014 it forces people to ask these companies: Why are you so against allowing people to fix their stuff?\u00a0<\/p>\n

After all, it\u2019s common sense. It saves money, protects farmers\u2019 livelihood, cuts pollution and electronic waste. Perhaps it\u2019s time these companies realized this isn\u2019t going away and they must finally let people fix their stuff.\u00a0<\/p>\n

\u00a0<\/p>\n

###<\/p>\n

\u00a0<\/p>\n

U.S. PIRG is not a registered investment adviser.\u00a0\u00a0 U.S. PIRG is not providing any investment advice to any recipient of this communication.<\/p>\n

About Green Century Capital Management<\/strong><\/p>\n

\u00b0Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. Green Century Capital Management hosts an award-winning and in-house shareholder advocacy program and is the only mutual fund company in the U.S. wholly owned by environmental and public health nonprofit organizations.<\/p>\n

*As of June 30, 2021, Apple Inc. and Deere & Co. comprised 3.71%, 0.00% and 0.00% and 0.77%, 0.55% and 0.00% of the Green Century Balanced Fund, the Green Century Equity Fund and the Green Century International Index Fund, respectively. As of the same date, other securities mentioned were not held in the portfolios of any of the Green Century Funds. References to specific securities, which will change due to ongoing management of the Funds, should not be construed as a recommendation by the Funds, their administrator, or their distributor.<\/p>\n

You should carefully consider the Fund\u2019s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please click here, email info@greencentury.com<\/a>, or call 1-800-934-7336. Please read the Prospectus carefully before investing.<\/em><\/strong><\/p>\n

Stocks will fluctuate in response to factors that may affect a single company, industry, sector, country, region or the market as a whole and may perform worse than the market. Foreign securities are subject to additional risks such as currency fluctuations, regional economic and political conditions, differences in accounting methods, and other unique risks compared to investing in securities of U.S. issuers. Bonds are subject to a variety of risks including interest rate, credit, and inflation risk. A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.<\/p>\n

This information has been prepared from sources believed reliable. The views expressed are as the date of this writing and are those of the Advisor to the Funds.<\/p>\n

The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. 9\/21<\/p><\/body><\/html>","":null}}]},"yoast_head":"\nApple* and John Deere* shareholders file resolutions questioning their anti-repair stances<\/title>\n<meta name=\"description\" content=\"Shareholders press these leading Right to Repair opponents to explain themselves as regulatory pressure mounts\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dev.pirg-test.com\/northcarolina\/edfund\/articles\/apple-and-john-deere-shareholders-file-resolutions-questioning-their-anti-repair-stances\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Apple* and John Deere* shareholders file resolutions questioning their anti-repair stances\" \/>\n<meta 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