Contact Information:
Pam Podger, Communications Director, ppodger@greencentury.com, 802-299-9495
Douglass Guernsey, Shareholder Advocate, dguernsey@greencentury.com, 617-747-4447
(Boston, MA) Choice Hotels International*, one of the world’s leading lodging franchisors, has agreed to take the first step in addressing plastic pollution by conducting a program measure single-use plastic and develop strategies for single-use plastic reduction after engagement by Green Century°.
Choice Hotels, which has a diverse portfolio of 22 brands including Comfort Inn, Cambria Hotels, and Econo Lodge, will conduct a plastics reduction inventory program in 2024 and use it to set a new goal to reduce single-use plastic next year.
“As investors learn that plastic used for a minute can pollute our environment for hundreds of years, it has become a risk that companies need to manage,” said Leslie Samuelrich, President of the Green Century Funds. “We welcome Choice Hotel’s move to set a new plastic reduction goal.”
Choice Hotels, On of The Leading Lodging Franchisors, Agrees to Single-Use Plastic Study, Reduction
Choice Hotel’s commitment comes as consumers, investors, and regulators increasingly focus on the negative impacts of single-use plastic on the planet. According to a recent survey, 80% of U.S. respondents from across the political spectrum support requiring companies to reduce single-use plastic.
“Delighting guests and reducing single-use plastics are clearly compatible,” said Douglass Guernsey, shareholder advocate at Green Century. “Customers want hospitality that doesn’t compromise the beauty of the places they might have traveled thousands of miles to visit.”
It is estimated that two garbage trucks worth of plastic enter the ocean every minute.
Recycling, long touted as the solution to the plastic waste crisis, has resulted in only 9% of plastic being recycled. Scientists and experts agree that the best way to reduce plastic pollution is to cut the amount of plastic companies are producing, and to replace non-essential single-use plastic with tested alternatives like reuseable containers.
“Choice is taking the first steps in addressing plastic pollution by better understanding how and how much plastic is used for its hotels,” added Guernsey. “The next step is to implement reductions, which will return long term value to consumers, the business, and investors.”
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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, Choice Hotels International, Inc. comprised 0.00%, 0.02%, 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. February/2024