Boston, April 16, 2024 – Mattel, Inc., one of the largest toy companies in the world, has agreed to report on its single-use plastic in packaging to the standardized reporting framework CDP in 2025 after reaching an agreement with Green Century, an environmentally responsible mutual fund.
Mattel uses plastic packaging for its popular toy brands like Barbie, Hot Wheels, and Fisher-Price, and continues to develop ways to improve the sustainability of its packaging.
“We have tremendous respect for the team at Mattel and applaud the company’s commitment to transparency,” said Leslie Samuelrich, president of Green Century. “Accurate data is critical for decision making, and this new commitment will let investors look ‘into the box’ to view how Mattel is reducing plastic waste.”
Mattel and Green Century had previously reached a deal in which Mattel agreed to set a company-wide plastic reduction goal. Mattel fulfilled that agreement in 2022 by committing to reduce its plastic packaging by 25% per product by 2030.
This additional commitment to disclose information on single-use plastic in packaging to CDP will help stakeholders better understand Mattel’s sustainable packaging efforts through a recognized, standardized reporting platform.
Mattel to join 3,000 global companies reporting to CDP Plastic
Standardized reporting is an essential first step in reducing plastic pollution.
“Right now, each company discloses plastic information in different ways, making it nearly impossible for governments, recyclers, and investors to really know what plastic is out there,” said Douglass Guernsey, shareholder advocate at Green Century. “We really view CDP as the gold standard when it comes to voluntary disclosure.”
Plastic pollution continues explosive growth
The current plastic waste system has failed to keep plastic out of the ecosystem. Only 9% of plastic waste is recycled, while plastic pollution has doubled every six years.
Plastic waste makes its way into waterways, killing marine life and disrupting ecosystems. Additionally, as plastic doesn’t break down like other materials, small particles of “microplastics” have been found in every environment and even the human bloodstream.
The issue has increasingly alarmed consumers and investors. Over 75% of respondents to a recent survey have asked companies to use less single-use plastic.
Companies’ efforts to improve sustainability of their products and packaging are an important aspect of helping to protect the planet for future generations.