Contact Information:
Pam Podger, Communications Director, ppodger@greencentury.com, 802-299-9495
Douglass Guernsey, Shareholder Advocate, dguernsey@greencentury.com, 617-747-4447
(March 13, Boston, MA) Marriott International, Inc*, the world’s largest hospitality company, will set a single-use plastic reduction goal by the end of 2025 and disclose a baseline footprint of single-use plastics starting in 2026, thanks to an agreement with Green Century°.
“We welcome Marriott’s commitment to transparency and to cutting its plastic use,” said Leslie Samuelrich, president of the Green Century Funds. “Customers, investors, and business leaders value sustainability, so Marriott is taking the right approach to prepare for the future.”
Regulatory and economic pressures have pushed companies to disclose and reduce the use of non-essential single-use plastic.
Marriott has taken steps toward reducing single-use plastic in its operations, including transitioning away from tiny, single-use toiletry bottles to more-sustainable, larger bottles for bath amenities. The bigger bottles are more recyclable and help reduce plastic waste.
“Given Marriott’s scale, with more than 1.5 million hotel rooms worldwide, small changes make massive impacts,” said Douglass Guernsey, shareholder advocate with Green Century. “We are pleased that the company is working to create a more sustainable business and planet.”
Plastic Pollution Continues its Explosive Growth
Plastic pollution entering the oceans has been doubling every six years, killing 1 million marine creatures annually. More than 91% of plastics are not recycled.
Experts agree that reducing non-essential single-use plastic is necessary to address the growing plastic pollution crisis.
While some plastic doesn’t have viable alternatives, many single-use applications do.
“Companies first need to understand the scale of the problem and disclose the risks associated with it,” said Guernsey. “Only with reliable information can investors make cogent decisions to reduce the tidal wave of plastic pollution.”
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, Marriott International Inc. comprised 0.00%, 0.27%, 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. March/2024