With Rising Regulatory Risks for Toxic Chemicals, Investors Praise Discount Retailers Five Below and Dollar General for New Chemical Safety Commitments

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SOMERVILLE, Mass. –News Direct– Clean Production Action

SOMERVILLE, Mass., May 23, 2022 /3BL Media/ — The Presbyterian Church (USA) and Trinity Health have withdrawn shareholder resolutions in response to commitments by Dollar General and Five Below to expand and improve chemical safety programs. This comes at a time when retailers are under increasing regulatory pressure to remove toxic chemicals from consumer products. As of 2018, 38 states have adopted 257 policies to limit and in some cases ban chemicals in products ranging from baby bottles and personal care products to toys and cleaning products.

“Dollar General’s commitment to increase the number of chemicals of concern and products covered by its chemicals policy and to become a signatory to the Chemical Footprint Project sends a signal to investors and customers that the company plans to do product safety a fundamental value. said Katie Carter of the Office of Faith-Based Investments and Corporate Engagement of the Presbyterian Church (USA) “The company’s restriction of eleven additional chemicals, including lead and bisphenol A (BPA), by the end of 2023 is a step towards the best practices and financial due diligence we see in other major retailers.

Organizations like the Campaign for Healthier Solutions are working to reduce the use of harmful chemicals in consumer products sold at discount stores. Reporting standards from companies such as the Sustainability Accounting Standards Board (SASB) now include chemical risk and product safety in their materiality index for retailers like Five Below and Dollar General. Major retailers, including Walmart, Target and Dollar Tree, participate in the Chemical Footprint Survey to benchmark their progress against key performance indicators aligned with SASB-defined disclosure metrics.

“Five Below is reaching a critical milestone with its commitment to adopt the SASB standard to assess and manage the risks associated with chemicals of very high concern in their private label products by the end of 2023,” said Cathy Rowan, Director of Socially Responsible. Investments for Trinity Health. “We welcome Five Below’s commitment and view it as a key part of the company’s due diligence on product safety and brand competitiveness in a market increasingly focused on environmental issues.”

Across the economy, the costs of exposure to toxic chemicals are rising. A 2017 study showed that the costs associated with environmental chemical exposures around the world likely exceed 10% of global GDP or $11 trillion. [1]. Over the past decade, the mismanagement of regulatory, legal, and reputational risks related to hazardous chemicals in products has imposed financial costs on businesses. Trinity Health and Presbyterian Church (USA) are members of the Investor Environmental Health Network (IEHN), a program of Clean Production Action, which works with companies representing all segments of our economy to establish market best practices in chemicals management.

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About the Investor Environmental Health Network (IEHN) (https://iehn.org/)

IEHN is a membership-based investor collaboration that promotes the use of safer chemicals to improve shareholder value, public health and the environment. IEHN recognizes that a company’s brand reputation, public trust and market share are linked to environmental and human health risks and the safety of its products. Through direct business engagement, IEHN members provide solutions and strategies to transform business practices. The IEHN is a Clean Production Action program.

About Clean Production Action (https://www.cleanproduction.org/)

Clean Production Action is an independent non-profit organization based in the United States. Our mission is to design and deliver strategic solutions for green chemicals, sustainable materials and eco-friendly products. With IEHN, our main programs are: GreenScreen® for safer chemicals, BizNGO and the Chemical Footprint Project.

The Office of Faith-Based Investments and Business Engagement of the Presbyterian Church (USA) is a member of the Committee on Mission Accountability Through Investment (MRTI). MRTI was established in recognition of the church’s unique opportunity to advance its mission faithfully and creatively through the financial resources entrusted to it. MRTI implements the denomination’s policies on socially responsible investing by engaging companies in which church investment agencies hold stock with a focus on the pursuit of peace; racial, social and economic justice; environmental responsibility and the promotion of women’s rights.

About Trinity Health is one of the nation’s largest not-for-profit Catholic healthcare systems. It’s a family of 115,000 colleagues and nearly 26,000 physicians and clinicians caring for diverse communities in 25 states. Recognized nationally for its care and experience, Trinity Health System includes 88 hospitals, 131 continuing care facilities, the second largest PACE program in the nation, 125 urgent care facilities and many other health and wellness. Based in Livonia, Michigan, its annual operating revenue is $20.2 billion, of which $1.2 billion is returned to its communities in the form of charitable care and other health programs. community benefits.

[1] https://ehjournal.biomedcentral.com/track/pdf/10.1186/s12940-017-0340-3?site=ehjournal.biomedcentraI.com

See additional media and more ESG stories from Clean Production Action at 3blmedia.com

See source version at newsdirect.com: https://newsdirect.com/news/with-regulatory-risks-on-the-rise-for-toxic-chemicals-investors-commend-discount-retailers-five-below-and – dollar-general-for-new-commitments-to-chemical-safety-259112244

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