The maker of Barbie dolls and Hot Wheels cars announced Wednesday that it plans to reduce plastic packaging by 25% per product by 2030.
Mattel MAT, +10.76%, one of the world’s largest toy companies, believes so.
Plastic pollution in the ocean is projected to increase significantly in the coming decades, with some estimates predicting a rise to 29 million tons annually by 2040, according to Pew Trusts. This plastic can harm fish and other wildlife and spoil water recreation. “You don’t even realize how much plastic comes with a toy until you see the mess left behind at a child’s birthday party or during the holiday season. Kudos to Mattel for addressing its role in the toy industry’s plastic packaging problem,” said Leslie Samuelrich, president of Green Century Capital Management.
Additional steps in the company’s sustainability report include expanding a goal for 95% of paper and wood fiber used in its products and packaging to be certified by the Rainforest Alliance and the launch of a toy takeback program that will recover and reuse some materials from old Mattel toys.“Mattel’s new goal is particularly important because it addresses the company’s total plastic use, not just reducing new plastic in favor of recycled material,” Green Century’s Samuelrich said.
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