‘Starbucks released the results of its latest sweeping ‘sustainability’ audit and announced plans to become ‘resource positive’ late Tuesday, prompting analysts to ask: What, exactly, does that mean?
And although the company and many of its institutional shareholders have made a big deal about Starbucks’ sustainability rhetoric and celebrated its decision to phase out plastic straws to save the sea turtles, on Wednesday, investors shunned Starbucks shares (they were down more than 1%) as the company unveiled what Bloomberg described as its “ambitious goals” to reduce the environmental footprint that produces more waste every year to equal two Empire State buildings.
To wit, by 2030, the cafe chain is targeting 50% reductions in the amount of water it uses, the carbon it emits and trash it sends to landfills.
In “A Message From Starbucks’ CEO”, a blog post published Tuesday evening, CEO Kevin Johnson regaled readers with a history of Starbucks’ commitment to environmental responsibility, while rattling off a list of accomplishments.
But in the report, which was analyzed by Bloomberg, Starbucks’ hired environmental consultants warned customers that the best thing they could do to reduce the company’s harmful impact on the planet would be to buy cheaper drinks, and forego the milk.
That’s right:Instead of buying fancy frappucinos and indulgent espresso-based desserts, customers would do better to buy simple plain black espresso.’