Boston – Mattel, Inc.*, one of the largest toy companies in the world, has agreed to report on its single-use plastic in packaging to the standardized reporting framework CDP in 2025 after reaching an agreement with Green Century°, an environmentally responsible mutual fund.
Mattel uses plastic packaging for its popular toy brands like Barbie, Hot Wheels, and Fisher-Price, and continues to develop ways to improve the sustainability of its packaging.
“We have tremendous respect for the team at Mattel and applaud the company’s commitment to transparency,” said Leslie Samuelrich, president of Green Century Funds. “Accurate data is critical for decision making, and this new commitment will let investors look ‘into the box’ to view how Mattel is reducing plastic waste.”
Mattel and Green Century had previously reached a deal in which Mattel agreed to set a company-wide plastic reduction goal. Mattel fulfilled that agreement in 2022 by committing to reduce its plastic packaging by 25% per product by 2030.
This additional commitment to disclose information on single-use plastic in packaging to CDP will help stakeholders better understand Mattel’s sustainable packaging efforts through a recognized, standardized reporting platform.
Mattel to join 3,000 global companies reporting to CDP Plastic
Standardized reporting is an essential first step in reducing plastic pollution.
“Right now, each company discloses plastic information in different ways, making it nearly impossible for governments, recyclers, and investors to really know what plastic is out there,” said Douglass Guernsey, shareholder advocate at Green Century. “We really view CDP as the gold standard when it comes to voluntary disclosure.”
Plastic pollution continues explosive growth
The current plastic waste system has failed to keep plastic out of the ecosystem. Only 9% of plastic waste is recycled, while plastic pollution has doubled every six years.
Plastic waste makes its way into waterways, killing marine life and disrupting ecosystems. Additionally, as plastic doesn’t break down like other materials, small particles of “microplastics” have been found in every environment and even the human bloodstream.
The issue has increasingly alarmed consumers and investors. Over 75% of respondents to a recent survey have asked companies to use less single-use plastic.
Companies’ efforts to improve sustainability of their products and packaging are an important aspect of helping to protect the planet for future generations.
An investment strategy that incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
About Green Century
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are one of the first families of fossil fuel-free, environmentally responsible mutual funds. Green Century 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.
*As of 12.31.2023, Mattel, Inc. comprised 0.00%, 0.03%, and 0.00% of 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.
You should carefully consider the Fund’s investment objectives, risks, charges, and expenses before investing. To obtain a Prospectus that contains this and other information about the Funds please visit www.greencentury.com, email info@greencentury.com, or call 1-800-934-7336. Please read the Prospectus carefully before investing.
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.
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.
The Green Century Funds are distributed by UMB Distribution Services, LLC. 235 W Galena Street, Milwaukee, WI 53212. UMB Distribution Services, LLC is not an affiliate of Green Century or any of its affiliates. 4/2024