Target and Hasbro commit to participating in the Chemical Footprint Project

Shareholder advocacy |

The decisions follow engagement with investors

In the past year, both Target and Hasbro have made plans to participate in the Chemical Footprint Project (CFP) after dialogues with Praxis Mutual Funds® and other investors. The mission of the CFP is to transform global chemical use by measuring and disclosing data on business transition to safer chemicals. It provides a tool for benchmarking companies as they select safer alternatives and reduce their use of chemicals of high concern.

For more than eight years, Praxis has joined other investors to encourage manufacturers and retailers – including Target and Hasbro – to develop safe chemicals policies and products, specifically regarding chemicals of concern. These substances, commonly found in personal care products have been linked to health problems including cancer, infertility, learning disabilities and behavioral problems. While technically legal to use, these health concerns make them a risk to companies that use them.

Participating companies in the CFP answer a 20-question survey, scored to 100 points. The survey evaluates companies and their chemicals management policies and practices based on four key pillars:

  • Management strategy
  • Chemical inventory
  • Footprint measurement
  • Public disclosure and verification

Companies can choose whether to make their responses public. A primary goal of the CFP is to recognize corporate leadership, and the CFP will publicly profile top performers in its annual report. The results provide valuable data to investors, retailers and other organizations seeking to identify companies that use best practices in chemicals management.

Chris Meyer

Author

Chris Meyer
Manager of Stewardship Investing Research and Advocacy

Shareholder Advocacy

At Praxis, our investments generate a competitive financial return and deliver a clear and direct benefit to people and our planet. We believe it is our responsibility to encourage companies toward responsible business behavior.

 

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Disclosure

As of July 31, 2019, the Praxis Value Index Fund has invested 0.31% of its assets in Target. Fund holdings are subject to change. To obtain holdings as of the most previous quarter, visit praxismutualfunds.com.