A mutual-fund management firm with holdings of Smithfield Foods Inc. stock is asking the pork processor and hog-raising company to adopt specific goals for reducing greenhouse gases from its operations, including its hog farms.
Greenhouse gases, including those from livestock operations, contribute heavily to global warming, Calvert Asset Management Co. of Bethesda, Md., contended in a proxy statement for Smithfield's annual shareholders meeting on Sept. 1.
However, "Smithfield, the world's largest producer of pork, does not currently disclose the climate change impact of its total operations," Calvert said in the document.
Calvert is seeking shareholder approval for a resolution that would have Smithfield adopt quantitative goals for cutting its greenhouse-gas emissions and report to shareholders by February on its plan. Part of Calvert's investment strategy focuses on the social, ethical and environmental practices of publicly traded companies. The company said its Summit S&P Mid Cap Index Portfolio owns 15,385 shares of Smithfield.
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