Target and Hasbro commit to participating in the Chemical Footprint Project
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.