We wanted to update everyone on sustainability efforts occurring within our Blue Summit investment models. Blue Summit has worked with IMPAX (previously Pax World) since the mid-1990s. They are an important partner in our goal to align client investments with their values. Below are highlights of their engagement with Clean Harbors, a borrower in their High Yield Bond fund.
Clean Harbors, headquartered in Massachusetts, is North America’s leading provider of environmental and industrial services. The Company serves a diverse customer base, including a majority of Fortune 500 companies.
IMPAX has been engaging with the company since 2018. These are often multiyear processes and can include a list of items to progress sustainability.
IMPAX has pushed for increased disclosure and reporting of Clean Harbors environmental metrics. In 2022, Clean Harbors completed its first Climate Disclosure Project. This is a voluntary report that helps companies report on various climate, supply chain, and environmental indicators. It also provides a way to chart improvement over time. This was an important first step.
Clean Harbors is also working to set goals around disclosure of Scope 3 emissions (Scope 3 are from activities not owned or controlled by the reporting organization, but one’s they indirectly affect in their supply chain. Dialogue between Impax and Clean Harbors continues to maximize sustainability efforts.
In 2024, Clean Harbors made the Corporate Knights’ list of 100 Most Sustainable Corporations in the World, ranking 13th globally and second among all U.S.-based companies.
Here’s a link to their most recent Sustainability Report, it goes into much further detail of their efforts.
Clean Harbor's responsible policies and actions reflect their commitment to creating value for society and the environment. We are proud to include companies like Clean Harbors in our Blue Summit investment models.
Contact us anytime for more details or to dive deeper into your portfolio's environmental and social impact!
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Blue Summit does not directly invest in Celan Harbor. They are a holding within the IMPAX Global Environmental Markets Fund. Some, but not all clients, are invested in this fund.
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