- Best Buy recently announced in a press release that the company is recharging its chemical management program to align with its commitment to "positively impacting the world."
- The refreshed program will concentrate on four areas: operations; private label products; its work with vendors, and the current recycling program.
- Ultimately, Best Buy intends to reduce the use of chemicals, phase out chemicals of concern and improve the general management of chemicals.
The Dow Jones Sustainability Indices (DJSI) upped its emphasis on corporate chemical management on April 1 as part of its standard, meaning that companies without sufficient knowledge of the chemicals in use within their products could no longer earn a strong enough rating to qualify for the highest status rating. While this may not be the sole reason for the new focus on chemical reduction at Best Buy or Walmart, it's likely that it may have served as inspiration.
Investors are generally more likely to support a company taking an active stance on hazardous chemical reduction, since chemicals involve risk. Public censure against a company found to be sourcing a dangerous chemical will reduce its value, which is always anathema to an investor. Regulatory changes too can bring down a company's value, if a chemical in use is suddenly deemed too dangerous for common use, or finds itself on the European SIN List.
In reality, it's likely that corporations are dually motivated, both to improve or maintain their value rating as well as ensure the safety of their customers and staff.