The Universal Postal Union on Wednesday approved a compromise plan that will let countries set their own inbound postal rates, avoiding a threatened pullout by the U.S. that would have caused shipping chaos ahead of the peak holiday season. Under terms of the agreement, the U.S. can begin imposing self-declared rates by July 1, 2020, while countries with more than 75,000 metric tons of inbound mail per year can begin doing so on Jan. 1, 2021, with a five-year phase-in period. The agreement affects parcels weighing 4.4 lbs. or less, representing the vast majority of ecommerce shipments. The now-defunct, outdated UPU system had China and other countries such as Cambodia still classified as developing, letting shippers there enjoy much lower outbound postal rates that undercut U.S.-based sellers. The new agreement will benefit merchants here, who often found themselves paying more for shipping an item domestically than it cost for a competing product to arrive from China.
UPS announced Corporate Responsibility (CR) Magazine has named the company to its “100 Best Corporate Citizens” annual listing for the tenth straight year. The distinction celebrates the standout environmental, social and governance (ESG) performance of Russell 1000 companies across the United States. It examines seven categories: climate change, environment, governance, employee relations, human rights, finance, and stakeholders and society.
“It’s good to see our ongoing sustainability efforts to continue to be a good neighbor and to mitigate our environmental footprint are being recognized as evidenced by UPS moving up 27 spots on this listing year over year,” said Crystal Lassiter, senior director of global sustainability for UPS. “We’re proud to be honored by CR Magazine among so many other esteemed social responsibility leaders.”
CR Magazine specifically recognized UPS’s sustainability efforts, ranking the company 9 in the environment category and 16 in the stakeholders/society category, which together comprise more than one-third of the scoring criteria. CR Magazine partners with ISS-ESG to compile its annual “100 Best Corporate Citizens” list, evaluating publicly available information from eligible companies across 134 ESG performance measure and disclosure data criteria.
UPS has been honored with several other prominent environmental and social distinctions over the last year, including:
◦Received the Carbon Disclosure Project’s CDP “A” List award
◦Chosen as one of America’s Top 100 Most Sustainable Companies by Barron’s
◦Named to Dow Jones Sustainability North America Index for 14th year in a row & the Dow Jones Sustainability World Index (DJSI World) for sixth consecutive year
◦Recognized on Forbes and JUST Capital’s annual “JUST 100” list for social responsibility for the third consecutive year
◦Selected for the Civic 50, an initiative of Points of Light, for the fifth time
Read the full article from CR Magazine. To learn more about UPS’s sustainability initiatives, please visit www.ups.com/sustainability.