Hilton to Measure, Reduce Plastic Waste
Contact Information:
Pam Podger, Communications Director, ppodger@greencentury.com, 802-299-9495
Douglass Guernsey, Shareholder Advocate, dguernsey@greencentury.com, 617-747-4447
(BOSTON) Green Century° and Hilton Worldwide Holdings* reached a multi-year agreement for the major hotel chain to release an assessment of its single-use plastic by 2025 and set a plastic reduction goal by 2026.
The announcement comes after competitors Marriott and Choice Hotels also agreed to measure and reduce single-use plastic, following agreements with Green Century.
“Neither Hilton nor its investors want to be stuck holding the bill for the environmental and health impacts of single-use plastic,” said Leslie Samuelrich, president of Green Century Funds. “We applaud Hilton for committing to reduce its contribution to the plastic pollution crisis.”
Plastic Pollution Crisis Continues to Grow
Plastic pollution has been doubling every six years. Plastics don’t degrade, but break into small pieces called microplastics, which impact oceans, soil, the atmosphere, and human health.
“Consumers learn more everyday about the serious issues with plastic,” said Douglass Guernsey, shareholder advocate at Green Century. “Companies need a strategy for the future beyond single-use plastic.”
Hilton, like its competitors, provides single-use plastic in its rooms, guest common spaces, and food service locations.
While the environmental and health impacts of single-use plastic have long alarmed scientists, the scale of crisis is just starting to be better understood by consumers.
According to a recent study, seventy-five percent of Americans want to see the private-sector offer plastic free options, and 72% agree that companies should stop producing and using so much single-use plastic.
Recycling may not be the solution it once promised. Only 9% of plastics have been recycled, and many plastics aren’t recyclable at all, despite sporting the famous chasing arrows symbols.
Even plastics that are commonly recyclable, like #1 PET, pose significant challenges. Color, size, shape, chemical additives, and downcycling prevent many plastics from being turned into new products.
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, Hilton Worldwide Holdings, Inc. comprised 0.00%, 0.22%, 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
