Disney To Increase Plastic Disclosure, Goals
Media Contacts:
Pam Podger, ppodger@greencentury.com, 802-299-9495
Douglass Guernsey, dguernsey@greencentury.com, 617-747-4447
(Boston, MA) The Walt Disney Company* has agreed to disclose how much plastic it’s using in certain areas of its business and to set an additional plastic reduction goal, thanks to an agreement with Green Century Funds°, an environmentally responsible mutual fund. The Walt Disney Company will release its disclosures in 2025 and will publish the additional plastic reduction goal the following year.
The new commitments come as regulatory and economic pressures have pushed companies to disclose and reduce the use of non-essential single-use plastic.
“It’s crucial that investors know how a company is addressing its environmental risks and Walt Disney’s commitment will provide important information through its new reporting,” said Leslie Samuelrich, President of the Green Century Funds. “It’s a win for the company since single-use plastic is widely unpopular with consumers who recognize that plastics will pollute our environment for generations to come.”
Disney had previously taken significant steps towards reducing single-use plastic, including committing to eliminate single-use plastic on cruise ships by 2025, introducing plastic free packaging, and by committing to achieve zero waste to landfill for its wholly owned and operated parks and resorts by 2030.
These new commitments to disclose and to reduce unnecessary plastic will increase transparency and better position the company for a more sustainable future.
“The green bottom line is that reducing plastic waste is a win for businesses and for the planet,” said Douglass Guernsey, shareholder advocate with Green Century. “Green Century is excited that the company is committed to these transparency measures that investors will value.”
Plastic waste is one of the most durable and growing forms of pollution. It is estimated that every piece of plastic produced in the last 60 years that hasn’t been burned is still in the environment. According to a report from PEW Charitable Trust, if current plastic use trends continue, the amount of plastic leaking into oceans will triple, and the amount of plastic in the oceans will quadruple by 2040.
While many methods will be needed to reduce plastic pollution, recommendations from scientists and experts are for an absolute reduction of single-use plastic. Current recycling methods have resulted in only 9% of plastics being recycled, while most plastics labeled with the chasing arrow label are not actually recyclable.
“Alternatives to non-essential single-use plastic already exist,” said Guernsey. “From refillable and reusable containers to recycled paper, corporations have options to reduce risk in this sector. Frankly, much of the single-use plastic we use is like the name states – non-essential.”
About Green Century Funds
°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 December 31, 2023, The Walt Disney Company. comprised 0.00%, 0.73%, and 0.00% of Green Century Balanced Fund, the Green Century Equity Fund, and the Green Century International Index Fund,. 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.
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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. 1/2024
