Procter & Gamble (P&G)
P&G is the world's largest maker of consumer packaged goods, operating in more than 180 countries.
SHAREHOLDERS REPRESENTING $35BN PRESS PROCTER & GAMBLE FOR RECYCLABLE PACKAGING
Company Also Commits to 90% Recyclable Packaging by 2020
Consumer goods giant Procter & Gamble has made a qualified commitment that 90% of its packaging will be recyclable by 2020. The commitment came the day before a shareholder proposal filed by As You Sow asking the company to phase out of unrecyclable packaging was supported by 25% of shares voted, representing over $35 billion.
On Oct. 13, the company issued several new sustainability goals, one of which commits to “[E]nsuring that 90% of product packaging is recyclable - or that programs are in place to recycle it" by 2020. Crest toothpaste in laminate tubes and Tide detergent pods in laminate pouches are examples of popular P&G brand products that that cannot be conventionally recycled.
In 2011, As You Sow filed a shareholder resolution asking P&G to report on the feasibility of adopting an extended producer responsibility (“EPR”) policy for packaging. This was one of the first shareholder resolutions to focus on EPR. We later withdrew the resolution to engage in a series of dialogues with the company regarding how P&G might successfully move forward on this issue.
In 2012 As You Sow again filed another shareholder resolution asking the company to consider an EPR policy. It was co-filed by Green Century Equity Fund and Trillium Asset Management. Walden Asset Management is also a partner in our ongoing dialogue with the company.
On October 4, 2012, 15 socially concerned investors sent a letter to the company endorsing the shareholder proposal and asking the company to be more proactive on developing EPR for packaging policies. The proposal received the support of nearly 6% of shareholders voting.
Read more about our engagements with P&G below.