For investors, consumer exposure to hazardous chemicals in products raises company specific and portfolio-wide concerns. In the last decade, poor management of regulatory, legal, reputation and redesign risks from hazardous chemicals in products has caused plummeting company stock prices (Bayer, Lumber Liquidators, 3M, Dow) and bankruptcy (SIGG NA, J&J). Across the economy, the costs are rising: a 2017 study showed that costs associated with environmental chemical exposures worldwide likely exceed 10 percent of global GDP or 11 trillion dollars.1 Independent tests showed that 66% of 35 products randomly selected for testing from Five Below stores contained chemicals of high concern, like lead2 . Regulatory risk is on the rise. Since 2000, more than 35 states have passed 173 policies that establish state chemicals programs to identify, limit or ban the use of harmful chemicals in products including baby bottles, furniture, electronics, toys, cosmetics and cleaning products.3 The Sustainability Accounting Standards Board (SASB) has established industry-specific Standards that guide companies in disclosing financially material, decision-useful sustainability information for investors. Within the consumer goods sector, SASB established standards associated with multiline and specialty retailers and distributors (applicable to our Company). One of these SASB guidelines relates to processes to assess and manage risks and/or hazards associated with chemicals in products. Five Below does not report to investors on numerous elements that SASB recommends regarding chemical hazards in products including: • Operational processes it employs for chemicals management. • Whether it uses testing and/or third party certification to verify chemical content of private and third party labeled products. • Progress toward the elimination goals. The Chemical Footprint Project (CFP) Survey4 benchmarks corporate reduction of the use of chemicals of high concern. The CFP identified over 2,200 chemicals defined by authoritative bodies known to be harmful to human health and environment, drawing from lists including EPA’s carcinogens and persistent bioaccumulative toxins lists and the National Institutes of Health Reproductive and Developmental toxins list. Walmart, Target, and Dollar Tree participate in the CFP survey and have set public goals to address their chemical footprints.