Media Contacts: Josh Chetwynd, email@example.com, 303-573-5558; Annalisa Tarizzo, firstname.lastname@example.org, 617-482-0800
Boston, January 25, 2022 – Following an engagement with Green Century,° Choice Hotels International, which includes such brands as Comfort Inn & Suites and Econolodge, has announced two new commitments to reducing plastic use across its operations. The chain is one of the largest in the world with franchises in more than 7,000 hotels worldwide.
As part of an agreement with Green Century, Choice Hotels will phase out single-use polystyrene products by the end of 2023 and transition to bulk amenities by the close of 2025 across its domestic brands. The polystyrene commitment excludes the Ascend Collection and the bulk amenity commitment excludes extended stay brands or the Ascend Collection. In its transition to bulk amenities, the company will replace miniature bottles of products like shampoo and conditioner with larger dispensers in order to reduce waste.
“We applaud Choice Hotels’ commitment to reducing its impact on the plastic waste crisis and look forward to seeing the company implement its new goals in the coming years,” said Annalisa Tarizzo, shareholder advocate with Green Century.
Green Century filed and then withdrew a shareholder proposal with the company in 2020. This announcement fulfills the withdrawal agreement reached by both parties.
While Choice Hotels has not disclosed how the announcement will impact its plastic use, a similar transition to bulk toiletry dispensers across Marriott’s* portfolio of hotels resulted in a 30% reduction in plastic use.
“As more states pass laws banning single-use plastics, Choice Hotels’ new commitments will help the company mitigate regulatory risk, in addition to reducing the chain’s environmental impact,” Tarizzo said.
About Green Century Capital Management
°Green Century Capital Management, Inc. (Green Century) is the investment advisor to the Green Century Funds (The Funds). The Green Century Funds are the first family of fossil fuel free, responsible, and diversified mutual funds in the United States. Green Century Capital Management 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 December 31, 2021, Choice Hotels International, Inc. comprised 0.00%, 0.03%, and 0.00% and Marriott International, Inc. comprised 0.00%, 0.21%, and 0.00% of the 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 click here, email email@example.com, or call 1-800-934-7336. Please read the Prospectus carefully before investing.
A sustainable investment strategy which incorporates environmental, social and governance criteria may result in lower or higher returns than an investment strategy that does not include such criteria.
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. 1/22