“Zero Companies Doing Enough to Reduce, Reuse, and Recycle Plastics: New Report Reveals Shocking Findings”
A recent report by the shareholder advocacy group As You Sow and sustainability consultancy Ubuntoo has revealed that none of the more than 200 companies with at least $1 billion in annual revenue are doing enough to reduce, reuse, and recycle plastics in their products. The report, titled the 2024 Plastics Scorecard, published on June 12, found that plastic “intensity” is actually increasing among these companies, meaning the amount of plastic used to generate each dollar in sales is rising.
The report assessed 225 companies across 15 industries and awarded each company a grade ranging from A to F based on their efforts to reduce plastic usage, improve recyclability, and reuse post-consumer plastic waste. Shockingly, none of the companies received an A grade, with nearly half of them receiving an F grade.
Fashion house Stella McCartney was the highest-scoring company on the list, earning a B-plus grade. The Coca-Cola Co., H&M Group, SC Johnson, and Keurig Dr Pepper were the only companies to receive a solid B grade. Only 4 percent of the businesses earned a B-minus or better, with the majority falling in the C to F range.
As You Sow and Ubuntoo have urged companies to take action in six key areas to improve their plastic sustainability efforts. These areas include recyclability, reduction of plastic usage, increasing recycled content, recovery of packaging from the environment, exploring reusable packaging options, and supporting extended producer responsibility laws.
While the report highlighted the lack of progress in plastic sustainability among major corporations, it also noted that most companies have set targets for making plastics more recyclable, reducing their use, and incorporating more recycled material. Additionally, more companies are supporting new regulations for extended producer responsibility, with Minnesota passing the nation’s fifth state EPR law in May.
Overall, the report emphasizes the urgent need for companies to step up their efforts in reducing plastic waste and implementing sustainable practices to combat the growing threat of plastic pollution.