Green Century testifies before Maine Board of Environmental Protection on BPA
September 6, 2012—Today, Green Century Capital Management (Green Century) will deliver the findings of its report “Seeking Safer Packaging” to the Maine Board of Environmental Protection. The report documents the progress of food and beverage companies toward creating packaging bisphenol A (BPA) free. The report can be found here. BPA is a chemical that has been linked to an array of diseases and is the focus of increasing public concern and regulatory review.
The purpose of the testimony is to provide an investor perspective to Maine’s Board of Environmental Protection, as it decides whether to implement greater safeguards for the use of BPA in products intended for children. Green Century is proud to share its expertise in responsible corporate practices and do its part as an active investor.
Our report shows that the marketplace is clearly shifting as some companies in the food and beverage industry are not waiting for government action to begin transitioning out of BPA can linings. The overwhelming majority of companies featured in our report acknowledge some efforts to explore BPA-free packaging substitutes. Several have become leaders by making direct company investments in identifying substitutes and some have begun phasing out BPA from packaging.
“In our analysis, we found that in many cases companies are moving faster than regulators in phasing out BPA from food and beverage packaging,” said Will Kletter of Green Century in his prepared remarks. “Given the extensive movement already underway in the marketplace, it is reasonable to conclude that adoption of this regulation would not place an undue burden on businesses and would support and clarify market movement already underway,” he continued.
Green Century Capital Management is an investment advisory firm focused on environmentally responsible investing. Founded by a partnership of non-profit environmental advocacy organizations in 1991, Green Century's mission is to provide people who care about a clean, healthy planet the opportunity to use the clout of their investment dollars to encourage environmentally responsible corporate behavior. Green Century believes that shareholder advocacy is a critical component of responsible investing and actively advocates for greater corporate environmental accountability.
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