Global toy company Mattel announced a series of new ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More goals today, including eliminating manufacturing waste and cutting its scope 1 and 2 greenhouse gas emissions in half by 2030.
The new goals were unveiled with the release of Mattel’s 2020 Citizenship Report, which outlines the company’s updated ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More strategy. Other goals highlighted in the report include previously announced targets to achieve 100% recycled, recyclable, or bio-based plastic materials in all products and packaging by 2030, to maintain 100% pay equity globally, and to increase representation of women and by ethnicity across all levels of the organization.
Ynon Kreiz, Chairman and CEO, Mattel, said:
“As a purpose-driven company, we take our role as a responsible corporate citizen very seriously. Our updated ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More strategy serves to build upon a solid foundation and leverages additional opportunities to manage our business more sustainably in a rapidly changing world. We are aiming to have a positive influence on the world around us while continuing to execute our transformation strategy and advance our purpose to empower the next generation to explore the wonder of childhood and reach their full potential.”
Mattel outlined several of the initiatives the company will explore in order to reach its new sustainability goals. In order to achieve its zero waste target, the company said that it is conducting on-site waste audits, and is developing site-specific strategies with a focus on a “waste-minimization hierarchy” of reduce, reuse, and recycle. Emissions reduction measures may include reductions in energy consumption through building and equipment upgrades, and automated controls, as well as purchases of electricity from renewable sources.
Pamela Gill-Alabaster, Head of Global Sustainability, Mattel, said:
“At Mattel, we aim to contribute to a more diverse, equitable, inclusive and sustainable future. Our updated ESGEnvironmental, social, and governance (ESG) criteria are a set of standards for a company’s operations that socially conscious investors use to screen potential investments. More strategy and goals, recent sustainable new product launches, and toy takeback program are all part of a broader effort to manage our business more sustainably.”
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