Wal-Mart to Rate Companies on the Use of Unsafe Chemicals
Wal-Mart will start rating firms on their use of chemicals. This activity is expected to put pressure on various industries as their every move will be monitored.
Wal-Mart, the world’s largest retailer, is participating in this Chemical Footprint Project, which will help companies abolish dangerous chemicals from their products. The program guides the companies to manage and monitor their use of chemicals.
Chemical Footprint Project was initiated by an organization, Clean Production Action, in 2014. The program consists of a 20 question survey that examines the policies, actions, and goals of companies. The top score is 100 points. This move was in response to the demand from both consumers and investors, who are concerned about the harmful chemicals used by the companies.
Many companies like Johnson & Johnson, and HP and Staples have joined hands in this move. Boston Common Asset Management, an investment firm, is one of the 65 signatories to the project. The participation of Wal-Mart will uplift the three-year old program. Before the Chemical Footprint Project was started, companies lacked a third-party standard to evaluate supply chains and risks posed by hazardous products. With the implementation of this program, consumers will also be alert and start checking ingredients labels of the product.
Three companies that took this assessment program disclosed their scores. Bake Dickinson, a medical device maker, scored 53, cosmetics manufacturer Beautycounter scored 92, while equipment company Case Medical scored 62.
This project will enable to create a standard module for carbon footprint scores.
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