Hasbro, Inc. (NASDAQ: HAS) announced that, beginning in 2020, it plans to begin phasing out plastic from new product packaging, including plastic elements like polybags, elastic bands, shrink wrap, window sheets and blister packs. The company’s ambition is to eliminate virtually all plastic in packaging for new products by the end of 2022.
“Removing plastic from our packaging is the latest advancement in our more than decade-long journey to create a more sustainable future for our business and our world,” said Brian Goldner, Chairman and CEO, Hasbro. “We have an experienced, cross-functional team in place to manage the complexity of this undertaking and will look to actively engage employees, customers, and partners as we continue to innovate and drive progress as a leader in sustainability.”
Hasbro has a long-standing commitment to environmental sustainability, from eliminating wire ties in 2010 and adding How2Recycle® labeling in 2016, to the use of plant-based bioPET in 2018, and most recently, launching an industry-leading toy recycling program with TerraCycle®. Hasbro’s Sustainability Center of Excellence is charged with driving the integration of sustainability across the business, including driving sustainable packaging design principles.
“Reimagining and redesigning packaging across our brand portfolio is a complex undertaking, but we believe it’s important and our teams are up for the challenge,” said John Frascotti, President and Chief Operating Officer, Hasbro. “We know consumers share our commitment to protecting the environment, and we want families to feel good knowing that our packaging will be virtually plastic-free, and our products can be easily recycled through our Toy Recycling Program with TerraCycle.”
Hasbro’s Toy Recycling Program enables consumers to send well-loved Hasbro toys and games to TerraCycle, a global leader in product recycling, who will recycle them into materials to be used in the construction of play spaces, flowerpots, park benches, and other innovative uses. Hasbro recently announced the expansion of the program to France, Germany and Brazil, and plans to expand the program to additional markets with the goal of ensuring all Hasbro toys and games are recyclable in the major markets where it does business.
To learn more about Hasbro’s sustainability efforts, visit hasbro.com/csr.