Company Profiles
Portfolio 21 Holdings
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- Unicredit Group
- United Natural Foods
- Verbund
- Vestas Wind Systems
- Volvo Group
- Waters
- Westpac Bank
- Whole Foods Market
Marks & Spencer
United Kingdom
Selling mainly food and apparel, Marks & Spencer has been touted as "Britain's most ethical and environmentally conscious retailer" by both Greenpeace and Friends of the Earth. This company's commitment to sourcing regional food and the strategic placement of its stores near public transit centers demonstrates a business model that is positioned for ongoing success in the face of ecological limits. Consider, for example, the constraints of climate change—Marks & Spencer has relationships with local suppliers and is conveniently located for customers, which represents a competitive advantage by reducing the climate impact of Marks & Spencer's procurement activities, as well as potentially reducing the climate impact of its customers. Marks & Spencer only sells its own brand food, which allows the company to ensure that all food products are made with non-genetically modified ingredients and use only free-range eggs, while also ensuring that the company's suppliers meet its stringent Corporate Social Responsibility standards. Marks & Spencer offers a limited number of fair trade and organic goods, including fair trade coffee, fruit, organic cotton baby clothes, and some organic foods, while also working with suppliers to restrict the use of certain pesticides. Overall, Marks & Spencer is addressing all the right issues; however, one area for improvement is travel. While it reports on myriad environmental performance goals, Marks & Spencer has not set a reduction goal for employee business travel, which has recently increased significantly.
Contract Manufacturers and Labor Concerns
There are many concerns regarding labor issues in overseas factories. While certain companies have been targeted by media attention, the issues are broader than one company or one industry. The global problems of working conditions and wage inequities are rooted in the economic system of globalization, and Portfolio 21 believes solutions to these issues will require significant action on the part of individuals (as consumers, citizens, and workers), as well as governments and business organizations. Marks & Spencer is engaging with organizations such as the Maquila Solidarity Network and Oxfam on labor issues, and has a number of internal programs to address code of conduct and auditing issues. Read Portfolio 21's Globalization, Human Rights and Social Justice Policy and our suggestions for action.
Biotechnology Involvement
Marks & Spencer recognizes the concerns with Genetically Modified Organisms (GMOs). In 1999, in response to customer unease regarding agricultural applications of biotechnology, Marks & Spencer decided not to sell foods made with GM ingredients or derivatives. Additionally, the company's non-GM ingredients policy applies to animal feed for its meat and dairy products. Read Portfolio 21's full Biotechnology Policy.
To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 9/30/09 and may not reflect current opinions or subsequent events.