VBDO's Call to Action on Plastics: Accelerate Action on Plastics to Reduce Environmental Impact
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The Dutch Association of Investors for Sustainable Development (VBDO), managing €10 trillion in assets, has called on corporations to accelerate action on plastics to reduce their environmental impact. The VBDO has called for corporations to set ambitious targets to reduce plastic use and eliminate single-use plastics to reduce their environmental impact. This call to action is expected to have significant effects on corporations across the globe in terms of sustainability and ESG. This call to action by the VBDO regarding corporate action on plastics, is a strong reminder of the importance of sustainability and environmental, social, and governance (ESG) considerations for companies worldwide.
According to a report by ESG News, plastic production has increased twenty-fold since 1964, and it is predicted that by 2050, there will be more plastic than fish in the ocean if current trends continue. Companies that do not comply with this call to action could face negative impacts such as financial loss and damage to their reputation.
As Angélique Laskewitz, the CEO of VBDO, explains, "Reducing plastic waste is a crucial issue, and companies need to step up their efforts to address it. This is not only an environmental imperative but also a business opportunity."
The VBDO's call to action is supported by investors managing more than $2 trillion in assets, who have called on the world's largest corporate plastic producers, including Dow Chemical and ExxonMobil, to end "the production, use and sale of single-use plastics" (Reuters). This investor-led initiative further underscores the importance of sustainability and ESG considerations for corporations.
Photo by Volodymyr Hryshchenko on Unsplash
It’s exceedingly important for companies to take this call to action seriously and take steps to reduce their plastic footprint, set ambitious reduction targets, and collaborate with others across the value chain to achieve them. It’s a matter of planet, people and profit. Fortunately, there are software solutions available to help companies manage their sustainability and ESG efforts. Sustaira, for instance, is a software solution that can help companies track their environmental impact, identify areas for improvement, and measure progress towards their sustainability goals. With the help of software like Sustaira, companies can take a data-driven approach to sustainability and ESG, making it easier to identify opportunities for improvement and make real progress towards a more sustainable future. Ultimately, sustainability is a digital issue that agile solutions can help to solve.
In conclusion, the VBDO's call to action on plastics reiterates the importance of sustainability and ESG considerations for corporations worldwide. New policies, regulations and even investment firms are making decisions based on sustainability and ESG data. Companies that take steps to reduce their plastic footprint and collaborate with others across the value chain can benefit financially from reduced production costs and increased demand for sustainable products, and those that do not will likely face more serious consequences.
Sources:
Reuters: Title: Investors managing $2 trillion urge firms to cut use of plastics URL: https://www.reuters.com/article/investors-companies-plastics-idAFL8N3713EY Author: Simon Jessop Publication date: April 20, 2021
ESG News: Title: Dutch Association of Investors for Sustainable Development managing €10 trillion urge faster corporate action on plastics URL: https://esgnews.com/dutch-association-of-investors-for-sustainable-development-managing-10-trillion-urge-faster-corporate-action-on-plastics/ Author: ESG News Desk Publication date: April 20, 2021
Financial Times: Title: Investors with $2tn in assets call on plastic producers to reduce waste URL: https://www.ft.com/content/20461b08-76d4-4413-bebd-49b78c3f5de9 Author: Leslie Hook Publication date: April 20, 2021
