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“The Chemical Footprint Project gives companies across all industries tools to evaluate their progress in reducing Chemicals of High Concern and proactively identify opportunities for further action,” highlighted Joyce Taylor of the Hewlett-Packard Company. “For HP, the footprint tool uses a standardized scoring methodology that gives our customers another way to engage with us and our products and enables HP to continue to create solutions that reduce environmental impact.
Issues for Brands and Manufacturers
Consumers care about health: Study after study shows that consumers value products that are safer for themselves and their families.
Responsible investors want chemical footprint data, which is a critical missing piece in Environmental, Social, and Governance (ESG) assessments.
- Retailers and institutional purchasers want chemical footprint data to recognize and reward suppliers for doing well.
- Toxic chemicals cause health related diseases:
- 3% of developmental disabilities
- 5% of childhood cancer
- 10% of diabetes, Parkinson’s Disease and neuro-developmental disabilities
- 10% of children’s neurobehavioral disorders
- 30% of childhood asthma
- Until CFP, brands and manufacturers lacked the means to publicly demonstrate -- using an independent, third party based tool -- their overall chemical management performance.
- Creates a clear, common logic for communicating, evaluating, and measuring corporate chemical management performance.
- Provides easy to use results: CFP will provide brands with data that readily enables benchmarking chemical management performance relative to industry peers.
- Enables companies to mark where they’ve made progress, to mark where they can make progress, and to set goals to make further progress. CFP evaluates chemicals management on four measures:
- Management Strategy: corporate policies for chemicals management.
- Chemical Inventory: what suppliers know about chemicals in products and manufacturing.
- Progress Measurement: how suppliers assess chemicals, whether they select safer alternatives, and their overall progress in reducing toxic chemical use.
- Public Disclosure: how much information suppliers release to the public about chemicals in their products and their overall chemicals management practices
- Identifies opportunities for improving performance: brands and manufacturers use the survey for self-assessment, identifying areas in chemical management policies and practices for improvement.
- Supports brands and manufacturers to gain overall, internal alignment in development and implementation of chemical management policies and practices.
- Empowers brands and manufacturers to request chemical footprint data from their suppliers.
- Enables brands and manufacturers to recognize and reward suppliers for doing well.
We need metrics for reporting and benchmarking overall corporate performance on chemicals management. CFP is a publicly developed standard which could allow us to benchmark, track and report our overall corporate chemical management performance going forward. We look forward to its launch in 2015.
- Annie Schmidt, Seagate Technology, LLC
The Chemical Footprint Project provides an independent, third party assessment tool that will help companies to think about how to fully integrate their policies into procedures and vice-versa.
- Jane Abernethy, Humanscale
Hazardous chemicals “present reputational, regulatory, and reformulation risks across a broad range of industry sectors. Investors need to understand how companies are meaningfully managing these risks.”
- Susan Baker, Trillium Asset Management, LLC
The Investor Environmental Health Network welcomes the launch of the Chemical Footprint Project. For too long chemicals and health have been missing pieces in Environmental Social Governance (ESG) assessments. Now we have a tool that investors can use to fill in this critical information.
- Richard Liroff, Investor Environmental Health Network
Corporate performance in chemicals management varies widely, from barely being in compliance with regulations to capturing new markets through innovative products based on safer chemicals. We look forward to using a tool that rewards innovators for using safer substitutes.