© a.s.r. 2024
03 May 2023 | 1 min. readingtime
a.s.r. signs a collective statement against the use of plastics together with more than 183 international financial institutions, investors. Coordinated by the Association of Investors for Sustainable Development (VBDO), the investors, with combined assets of US$10 trillion, are joining forces and calling for more action to tackle the plastic crisis. Investors are expressing their concerns about the threat plastics pose to the environment, climate, biodiversity, human rights and public health. The signatories are calling on companies from the Fast Mover Consumer Goods (FMCG) and retail sector to make additional efforts to drastically reduce their use and dependence on plastic packaging.
More than 183 investors, including Dutch parties such as Achmea, ACTIAM, a.s.r. and MN, coordinated by the Association of Investors for Sustainable Development (VBDO), call for more action against plastics. Businesses need to drastically reduce the consumption of single-use plastic packaging and implement packaging reuse systems, phase out hazardous chemicals in plastic, and advocate – not against – policies that support these actions.
In a joint statement, the signatories warn that the entire life cycle of plastics poses a serious and growing threat to the world. The estimated societal costs of plastic pollution – including environmental clean-up, ecosystem degradation, shortened life expectancy and medical treatments – are more than $100 billion a year.
The signatories argue that failure to address these securities exposes companies to financial risks that threaten value creation and investment returns given the wave of action to tighten legislation worldwide, the increasing number of lawsuits against companies and the potential threat to brand equity.
By signing this statement, investors are asking companies to drastically step up their efforts to tackle the plastic crisis.
Raquel Criado Larrea, Head of Sustainable Investments at a.s.r.: 'If a.s.r. we recognize the role that the financial sector plays in the path towards a sustainable and liveable world. To tackle the plastic crisis, however, we must act together. We are therefore pleased with the initiative of the VBDO. By signing this collective statement, we as a financial sector are making ourselves heard; we must take action against that polluting mountain of plastic. Ultimately, this is necessary to achieve the Paris climate goals. We see the challenge facing the business community, which has to look for sustainable alternatives. From a.s.r. asset management, we are happy to discuss this with companies, in order to accelerate the path to a circular economy. But we are also asking the sector to take action more quickly.”
