July 15, 2014: The Sustainability Group of Loring, Wolcott & Coolidge and Trillium Asset Management commend Home Depot for taking concrete action to protect bees and other pollinators by reducing the use of neonicotinoids (neonics). Home Depot recently announced that by the fourth quarter of 2014, it will require suppliers to label all plants treated with neonics, and will work with suppliers to eliminate neonics in plant production. In addition, the company is also providing its customers with a list of neonic-free alternatives for home application.
Home Depot’s announcement comes in the wake of the National Resources Defense Council petition to the EPA requesting it withdraw its approval of neonics in light of evidence that they harm bees and other pollinators. Neonics have rapidly become the most widely used group of insecticides globally, with a marketshare of 25%.
Investors continue to engage a number of companies exposed to risks related to declining pollinator populations. Last fall, a consortium of investors led by Trillium Asset Management and The Sustainability Group approached 19 companies including home improvement and food retailers, and food producers. Home Depot proved one of only three companies willing to take definitive action.
We commend Home Depot for its leadership on this crucial issue.