We wanted to share a quick update from As You Sow’s progressive work with Ocean Plastics. Blue Summit partners with As You Sow to encourage responsible changes in large corporations. The shared goal is to spur business practices that are socially responsible and conducive to long term financial health for those corporations and their shareholders.
You might not recognize the name “YUM! Brands,” but you’ll recognize their brands — KFC, Taco Bell, Pizza Hut, Habit Burger Grill. It’s the world’s biggest fast food company, with 50,000+ restaurants in 150+ countries around the world.
YUM! pledged to eliminate polystyrene (EPS) foam — Styrofoam — globally by 2022.
Styrofoam is a frequent component of beach litter, breaking down into tiny pieces that animals mistake for food. This is one more important step in cleaning up our ocean’s plastic problem. According to Conrad MacKerron, head of As You Sow’s Ocean Plastics work, “This action could significantly reduce the amount of single use packaging that ends up as littered waste, especially in developing economies where YUM! does substantial business.”
YUM!’s action will eliminate at least 100 million foam takeout containers per year. It follows McDonald’s and Dunkin’ commitments, which are removing a combined 2 billion Styrofoam cups from use annually.
Some of the above content can be found on As You Sow’s website here.
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Some mutual funds contained in Blue Summit investment models perform shareholder advocacy either directly with companies or in cooperation with authorized filers like As You Sow. Blue Summit does not directly engage with companies like Starbucks. Many, but not all clients, are invested in funds that perform this advocacy.