Tuesday, September 28, 2010

51 investor organizations sign letter urging Congress to act on TSCA safe chemicals reform

Normally we hear about environmental and health advocacy groups supporting safe chemical legislation.  Yesterday 51 organizations focused on managing billions of dollars in assets endorsed the recent Safe Chemicals Act (introduced in the Senate) and the Toxic Chemicals Safety Act (introduced in the House).

They argue that taking action to ensure the safety of chemicals is not only good for business, it is essential for business because“exposures to toxic chemicals produce a tremendous drag on the U.S. economy, contributing to health problems throughout supply chains.” 

They go on to note that:

"chemical exposures have been linked by scientists to various forms of cancer, learning and developmental disabilities, Alzheimer’s and Parkinson’s diseases, reproductive health and fertility problems, and asthma. Savings in health care costs from reducing exposures vary among studies, but routinely add up to billions of dollars annually. Exposures lower worker productivity and raise corporate health care costs. These can burden corporate performance and reduce investor returns."
The investors further encourage action, and the goal “should be to move American business swiftly away from 20th Century chemistry, with its legacy of Superfund sites, impaired human health, and damaged ecosystems, to green 21st Century chemistry that will better serve the long term well-being of business, humanity, and Planet Earth.”

The press release can be seen at the Investor Environmental Health Network web site.

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