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By Davis Harper
Since the early 1970s, Starbucks has held a special place in cupholders. Widespread infatuation with the company's caffeinated beverages has earned the coffee giant a storefront on almost every corner. With outposts in 75 countries and a whopping 13.3 million people enrolled in its loyalty rewards program, Starbucks has scorched nearly all of its closest competitors among major U.S. food brands (most of which aren't even coffee chains) in total market value.
With such reach and power comes tremendous responsibility. Starbucks touts its own corporate responsibility—claiming to be climate-change-aware and cognizant of its environmental cup-print—but how many latte-sippers know that their paper cup actually isn't recyclable and that it'll likely end up in a landfill? Might the knowledge that Starbucks's meat supply is pumped with antibiotics alter the market's appetite for the popular chicken and double-smoked bacon sandwich? Although the company prides itself on environmental awareness and progress toward sustainable products, multiple reports point to the mega-corporation's failure to live up to its own purported standards.
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A classic example of a negotiation with a notoriously tough corporation that was quite heated (but ended up with a positive change) took place leading up to May 2, 2007, when Apple CEO, Steve Jobs, made the public statement on the Apple website, "Today is the first time we have openly discussed our plans to become a greener Apple. It will not be the last. We apologize for leaving you in the dark for so long."
Our global economy is undergoing the "Great Transition" from an energy system based on fossil fuels to one based on clean, renewable energy sources and technologies. So as longtime advocates for a safe, just and sustainable future, we at As You Sow decided to partner with our friends at Corporate Knights and develop the Carbon Clean 200—to start a broad and dynamic conversation about how all investors can create a clean energy economy and how best to recognize companies that are already on this path.