Companies With Over $1 Trillion in Annual Revenue Report the Reduction of 83 Million Pounds/38 Million Kilograms of Hazardous Chemicals in the 6th Chemical Footprint Project Report
SOMERVILLE, MA / ACCESSWIRE / December 2, 2022 / Today, Clean Production Action released the 6th Chemical Footprint Project (CFP) Report. The CFP is the first-of-its-kind initiative to measure chemical footprints and assess business progress away …
SOMERVILLE, MA / ACCESSWIRE / December 2, 2022 / Today, Clean Production Action released the 6th Chemical Footprint Project (CFP) Report. The CFP is the first-of-its-kind initiative to measure chemical footprints and assess business progress away from hazardous chemicals to safer solutions. This enterprise is all the more urgent because the use and proliferation of hazardous chemicals in the environment is now one of the three planetary crises confronting humanity along with climate change and biodiversity loss.
"Companies that repeatedly participate in the CFP Survey continue to improve their score and demonstrate they can indeed significantly reduce their use of hazardous chemicals. For that reason we now encourage businesses to set chemical footprint reduction goals of at least 50% by 2030 and zero by 2040," stated Dr. Mark S. Rossi, Executive Director of Clean Production Action.
A program of Clean Production Action (cofounded by the Lowell Center for Sustainable Production at the University of Massachusetts Lowell, the consultancy Pure Strategies, and Clean Production Action), the CFP creates a clear and common logic for evaluating corporate chemical management performance through indicators set in its annual survey. Embedded in the Survey is the chemical footprint metric, which measures the total mass of chemicals of high concern (CoHCs) used by a company for any part of its value chain. CFP's Reference List of CoHCs uses 42 authoritative lists of hazardous chemicals to identify over 2,000 chemicals for the footprint metric .
Highlights from the 2021 report include:
Companies with over $1 trillion in annual revenue from seven business sectors participated in the 2021 CFP Survey. Over one year, they collectively reported chemical footprint reductions of 83.4 million pounds/37.8 million kilograms.
Walmart, one of the world's largest retailers, surpassed its 10% chemical footprint reduction goal in formulated products by achieving a 17% reduction and encouraged its suppliers to set impactful chemical footprint goals.
Reckitt, a major consumer goods company and retailer supplier with brands including Lysol, Woolite, and Calgon, announced it is "aiming for a 65% reduction in our chemical footprint by 2030."
Investors are utilizing CFP Survey as a leadership framework in shareholder resolutions and benchmarking assessments.
The US Securities and Exchange Commission's (SEC) new proxy voting disclosure requirements for institutional investment managers listed "chemical footprint" among the examples for "Environment or climate" reporting requirements.
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