<SEC-DOCUMENT>0001214659-23-006623.txt : 20230508
<SEC-HEADER>0001214659-23-006623.hdr.sgml : 20230508
<ACCEPTANCE-DATETIME>20230508133352
ACCESSION NUMBER:		0001214659-23-006623
CONFORMED SUBMISSION TYPE:	PX14A6G
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20230508
DATE AS OF CHANGE:		20230508
EFFECTIVENESS DATE:		20230508

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Mondelez International, Inc.
		CENTRAL INDEX KEY:			0001103982
		STANDARD INDUSTRIAL CLASSIFICATION:	FOOD & KINDRED PRODUCTS [2000]
		IRS NUMBER:				522284372
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		PX14A6G
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16483
		FILM NUMBER:		23896947

	BUSINESS ADDRESS:	
		STREET 1:		905 WEST FULTON MARKET
		STREET 2:		SUITE 200
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60607
		BUSINESS PHONE:		847-943-4000

	MAIL ADDRESS:	
		STREET 1:		905 WEST FULTON MARKET
		STREET 2:		SUITE 200
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60607

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	KRAFT FOODS INC
		DATE OF NAME CHANGE:	20000121

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GREEN CENTURY FUNDS
		CENTRAL INDEX KEY:			0000877232
		STANDARD INDUSTRIAL CLASSIFICATION:	UNKNOWN SIC - 0000 [0000]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			0731

	FILING VALUES:
		FORM TYPE:		PX14A6G

	BUSINESS ADDRESS:	
		STREET 1:		114 STATE STREET
		STREET 2:		SUITE 200
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02109
		BUSINESS PHONE:		617-482-0800

	MAIL ADDRESS:	
		STREET 1:		C/O UMB FUND SERVICES
		STREET 2:		803 WEST MICHIGAN STREET SUITE A
		CITY:			MILWAUKEE
		STATE:			WI
		ZIP:			53233
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>NAME OF REGISTRANT:</B> Mondel&emacr;z International, Inc.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>NAME OF PERSON RELYING ON EXEMPTION:</B> Green Century Equity
Fund</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>ADDRESS OF PERSON RELYING ON EXEMPTION:</B> 114 State Street,
Suite 200, Boston, MA 02109</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: justify"><B>Written materials are submitted pursuant to Rule 14a-6(g)(1)
promulgated under the Securities Exchange Act of 1934.&nbsp;Submission is not required of this filer under the terms of the Rule but is
made voluntarily in the interest of public disclosure and consideration of these important issues.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="padding: 1%; border: Black 1pt solid">

<P STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>Shareholder
Proposal No. 6 on Mondel&emacr;z International, Inc. 2023 Proxy Statement:</B></P>


<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Publish Annual Benchmarks for Achieving Company&rsquo;s 2025
Cage-Free Egg Goal</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0; text-align: center"><B>Mondel&emacr;z International. Symbol: MDLZ</B></P>


<P STYLE="font: 10pt Times New Roman; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Filed
by: Green Century Equity Fund&nbsp;</P>

</DIV>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">In December 2022, Green Century filed a shareholder proposal with Mondel&emacr;z
seeking enhanced disclosure of the Company&rsquo;s path to its 100% cage-free egg commitment by 2025. After discussing the proposal with
Mondel&emacr;z, Green Century decided it would be in its best interest to let the proposal go to a vote.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">As per SEC rule 14a-8(m)(3)(ii), issuers are required to send their opposition statements
to proponents such that proponents have at least 30 days in which to submit an exempt solicitation in response. Once the proxy statement
is published, issuers are not allowed to materially change their response to the shareholder proposal.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Mondel&emacr;z published its proxy statement on April 6, 2023, but the Company issued
an exempt solicitation on April 21, 2023, which we believe contains materially relevant information and may be in violation of SEC rules.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">We have filed this exempt solicitation to respond to what we consider to be new information
regarding our proposal that Mondel&emacr;z has now published.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Mondel&emacr;z has issued several cage-free egg commitments, targets, and disclosures
over the past decade including its goal to source 100% cage-free eggs by 2025<SUP>1,2,3</SUP>.</B> While we applaud these efforts, we
are concerned that Mondel&emacr;z has not disclosed interim goals to reach its 2025 cage-free egg target. Publishing a glidepath that
maps its intended progress would help investors understand whether the Company is on track to meet its targets; further, doing so has
become common practice among peers and many other companies.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Mondel&emacr;z reveals new information in its April 21, 2023, DEFA14A filing.</B>&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Mondel&emacr;z revealed it only increased its cage-free egg supply by 4% in 2022.<SUP>4</SUP>
Mondel&emacr;z also states in a footnote it does not include eggs purchased from 3rd party manufacturers as part of its cage-free egg
commitment.<SUP>5</SUP> Additionally, Mondel&emacr;z states that because it spends less than 1% of its overall raw material annually on
eggs, eggs are not material to its product portfolio.<SUP>6</SUP> These late disclosures by Mondel&emacr;z are troubling especially since
Green Century was not provided at least 30 days in which to review and respond to this new information.&nbsp;&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>1</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.reuters.com/article/us-mondelez-intl-eggs/cadbury-maker-mondelez-to-switch-to-cage-free-eggs-by-2020-in-u-s-idUSKCN0UT1XF</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>2</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.hsi.org/news-media/mondelez-international-cage-free-041417/</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>3</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">http://fiinpro.com/News/Detail/10420444?lang=en-US</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>4</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://ir.mondelezinternational.com/node/27651/html</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>5</SUP> Ibid</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>6</SUP> Ibid</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">We are concerned that as Mondel&emacr;z has only added 4% to its total cage-free
egg supply in the past year, it is not on track to reach its 2025 cage-free egg commitment. We also found it surprising that Mondel&emacr;z
does not consider eggs purchased from 3rd party manufacturers part of its cage-free egg commitments, leading to reasonable questions about
how many of its 100% cage-free products contain 100% cage-free eggs.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Finally, we are surprised that Mondel&emacr;z states eggs are not material to
its product portfolio, as eggs are key ingredients in some of its most well-known brands.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Mondel&emacr;z states that less than 1% of its overall raw material spend annually
is spent on eggs, and therefore eggs are not material to its business. Mondel&emacr;z also notes that in its document, the word &ldquo;material&quot;
is not used in the same sense and should not be confused with the term as defined for SEC reporting purposes.<SUP>7</SUP></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>In fact, Mondel&emacr;z uses eggs in some of its most well-known and recognizable
brands, including the Cadbury Egg<SUP>8</SUP> and Toblerone<SUP>9</SUP></B>. Additionally, Mondel&emacr;z uses eggs in some of its 7Days,<SUP>10</SUP>
Barni,<SUP>11</SUP> Kinh Do,<SUP>12</SUP> Perfect Snacks,<SUP>13</SUP> and Tate&rsquo;s Bakeshop products.<SUP>14</SUP> It is therefore
surprising that Mondel&emacr;z does not consider eggs material, as they are often essential ingredients. Further, in terms of risk, brands
prominently linked to eggs, such as the Cadbury Egg, could suffer from the perception that Mondel&emacr;z supports unpopular animal welfare
practices, such as battery cages for laying hens.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>The Green Century proposal asks for disclosure.</B> If Mondel&emacr;z makes a
public commitment, the company should publicly share a strategy for reaching its commitment. Mondel&emacr;z additionally states it is
driving progress through industry collaboration. By not disclosing a plan, strategy, or benchmarks, it seems highly unlikely that Mondel&emacr;z
is collaborating with others in the industry, and it certainly is not being transparent with shareholders.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Conclusion</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Mondel&emacr;z should disclose its strategy and benchmarks for achieving its commitments
to a cage-free egg supply chain. Additionally, the Proponent is concerned that Mondel&emacr;z did not provide the information released
in the April 21, 2023, DEFA14A in its opposition statement, which may be a violation of SEC rule 14a-8(m)(3)(ii).&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">Mondel&emacr;z revealed it has only increased its cage-free egg supply by 4% this
year, and that it excludes eggs purchased from its 3<SUP>rd</SUP> party manufacturers from its cage-free egg goal. Finally, despite the
Company claiming that eggs are not material to its business, prominent brands such as Cadbury Egg and Toblerone, along with products in
7Days, Barni, Kinh Do, Perfect Snack, and Tate&rsquo;s Bakeshop use eggs in their production.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><SUP>7</SUP> Ibid</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>8</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.cadbury.co.uk/products/cadbury-creme-egg-11467</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>9</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.toblerone.co.uk/en/products/4-5kg-bar#?send-a-feeling=Mega&amp;sku=12914705</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>10</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://snack7days.com/products/7days-cake-bars-chocolate-filling-2-12oz-pack-of-16?pr_prod_strat=use_description&amp;pr_rec_id=5643f6f8f&amp;pr_rec_pid=7524543234278&amp;pr_ref_pid=6214984794261&amp;pr_seq=uniform</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>11</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.mondelezinternational.com/-/media/Mondelez/Our-Brands/Brands/Barni/barni_fact_sheet.pdf?la=en</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>12</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://www.kdc.vn/en/bai-viet/mua-trung-thu-2014-kinh-do-phuc-vu-thi-truong-2-800-tan-banh-new</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>13</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://perfectsnacks.com/products/dark-chocolate-chip-peanut-butter-with-sea-salt</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>14</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://media.tatesbakeshop.com/ingredients/default/Ingredients.pdf</FONT></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">By not addressing and disclosing progress towards its goals, Mondel&emacr;z is exposing
investors risks inherent in falling short of its sustainability goals, which according to its own 10-k, could &ldquo;materially and adversely
affect our financial condition.&rdquo;<SUP>15</SUP></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><B>Shareholders are urged to vote FOR the proposal asking Mondel&emacr;z to disclose
or create any annual glidepath benchmarks for achieving its global cage-free egg goal by 2025.</B></P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><I>For questions regarding this proposal, please contact Andrea Ranger, Green Century
Capital Management, Inc. at </I><I>aranger@greencentury.com</I>.</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="padding: 1%; border: Black 1pt solid">

<P STYLE="text-align: justify; font: 10pt Times New Roman; margin: 0pt 0"><B>This is not a solicitation of authority
to vote your proxy. Please DO NOT send us your proxy card; Green Century Equity Fund&nbsp;is not able to vote your proxies, nor does this
communication contemplate such an event.&nbsp; Green Century Capital Management urges shareholders to vote for Item Number 6 following
the instruction provided on the management&rsquo;s proxy mailing.</B></P>

</DIV>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0">_____________________________</P>

<P STYLE="font: 10pt Times New Roman; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman"><SUP>15</SUP></FONT> <FONT STYLE="font-family: Times New Roman; font-size: 10pt">https://ir.mondelezinternational.com/static-files/d414de93-1ae9-418a-a78e-33d62b198689</FONT></P>

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