Starbucks Ramps up Global Efforts to Address Plastic Packaging and Waste
Boston, MA // January 31, 2020
Starbucks Corp., the world’s largest coffeehouse company, has committed to shift from single-use packaging to reusable packaging, develop new global reusable container goals, and cut global packaging waste 50 percent by 2030, following months of constructive dialogue with Trillium Asset Management and our dialogue partner, As You Sow. Supporting these long-term ambitious goals are substantive plans to invest in better ways to manage waste, including unprecedented research to promote customer behavior change. Importantly, these efforts are all global in nature, a vital distinction as Starbucks operates in 82 global markets.
This announcement comes in the wake of a shareholder resolution we filed in 2019 that received a 44.5% vote. Convinced there was more that Starbucks could do to address the impacts of its packaging, we re-filed the Proposal for 2020. Starbucks has responded to its shareholders and is now charting an impressive course of action to reduce its disposable packaging and related waste. As a result, Trillium and As You Sow withdrew the Proposal filed for 2020.
“Trillium is proud to have been an integral part of the shareholder action that has led to these new ambitions from Starbucks,” said Allan Pearce, shareholder advocate for Trillium Asset Management. “While Starbucks has a long road ahead to achieve these goals, we’re encouraged that its priorities are rooted in transparent data and will be supplemented by first-of-its-kind market research.”
For more information: Allan Pearce, Trillium Asset Management, 503-953-8345, firstname.lastname@example.org
Important Disclosure: This is not a recommendation to buy or sell any of the securities mentioned. It should not be assumed that investments in such securities have been or will be profitable. The specific securities were selected on an objective basis and do not represent all of the securities purchased, sold or recommended for advisory clients.