US discount retailer Dollar Tree has joined the Chemical Footprint Project (CFP) in a move that takes it a major step forward to developing a chemicals management programme that incorporate best practices.
Founded in 2014 by non-profit Clean Production Action, research institute The Lowell Center for Sustainable Production, and sustainability consultancy Pure Strategies, the CFP is a common reporting framework that assesses a company’s risk and its ability to capture market value from safer chemical use.
CFP signatories represent investors with US$2.8 trillion in assets under management, and healthcare and retail entities with $700bn in purchasing power. As with carbon footprint reduction, the participants recognise that a global transition to a reduced chemical footprint is necessary. The project gives signatories a tool to discern which firms bear the highest chemical risk and which are best positioned to capture new markets with safer products.
Reporting standards for investors increasingly include chemical risk and product safety as a part of their materiality index for retailers like Dollar Tree – and the Chemical Footprint Project provides common data and metrics companies can use to report to these standards.
Dollar Tree joins Walmart and Target to become the third retailer to participate in the Chemical Footprint Project Survey.
“The Chemical Footprint Project Survey provides businesses with a roadmap to reducing chemical risks and capturing market opportunities,” says Mark Rossi, co-founder of the CFP and executive director of Clean Production Action.
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By GlobalDataThe fourth annual CFP Survey results will be published in the third quarter of 2019.
