Lamb Weston Issues FY22 ESG Report
June 20 2023 - 4:45PM
Business Wire
The company has issued its fourth annual ESG
report, focused on progress against 2030 goals
Lamb Weston Holdings, Inc. (NYSE: LW) issued its fourth annual
Environmental, Social, Governance (ESG) report today, reporting
progress against 2030 ESG goals. The report provides updates on the
company’s performance during its fiscal year 2022.
“We’re making investments in people, processes and new ideas to
drive progress against our 2030 goals,” said Mike Smith, Chief
Operating officer, Lamb Weston. “Our team is focused on making
meaningful changes to secure a long-term future.”
The report provides critical updates on metrics in three key
areas of focus:
- People: investing in the development and wellbeing of team
members and providing for the communities where the company
operates.
- Food: offering customers and consumers safe, high quality
potato products, made responsibly.
- Planet: reducing environmental impact and conserving natural
resources through forward-looking agricultural programs and
efficient manufacturing.
The full ESG Report, including disclosure against key ESG
initiatives and progress against 2030 goals, is available now at
https://esg.lambweston.com.
About Lamb Weston
Lamb Weston is a leading supplier of frozen potato, sweet
potato, appetizer and vegetable products to restaurants and
retailers around the world. For more than 70 years, Lamb Weston has
led the industry in innovation, introducing inventive products that
simplify back-of-house management for its customers and make things
more delicious for their customers. From the fields where Lamb
Weston potatoes are grown to proactive customer partnerships, Lamb
Weston always strives for more and never settles. Because, when we
look at a potato, we see possibilities. Learn more about us at
lambweston.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Words such as “make,”
“invest,” “drive,” “focus,” “secure,” “provide,” “offer,” “reduce,”
“conserve” and variations of such words and similar expressions are
intended to identify forward-looking statements. Examples of
forward-looking statements include, but are not limited to,
statements regarding our plans, execution, goals, areas of focus
and progress. These forward-looking statements are based on
management’s current expectations and are subject to uncertainties
and changes in circumstances. Readers of this press release should
understand that these statements are not guarantees of performance
or results. Many factors could affect these forward-looking
statements and our actual results and cause them to vary materially
from the expectations contained in the forward-looking statements,
including those set forth in this press release. These risks and
uncertainties include, among other things: weather conditions and
availability and pricing for water; potato crop performance,
quality and yield, including the effect of climate on the potato
crop and our production processes; the availability and prices of
raw materials and other commodities; labor shortages and other
operational challenges; an uncertain general economic environment,
including inflationary pressures and recessionary concerns, any of
which could adversely impact our business, financial condition or
results of operations, including the demand and prices for our
products; legal or regulatory requirements relating to climate
change; risks related to disruption of management time from ongoing
business operations due to integration efforts related to our
acquisition of Lamb-Weston/Meijer v.o.f.; failure to realize the
benefits expected from the acquisition; the effect of the
acquisition on our ability to retain customers and retain and hire
key personnel, maintain relationships with suppliers and on our
operating results and businesses generally; risks associated with
integrating acquired businesses, including Lamb-Weston/Meijer;
levels of pension, labor and people-related expenses; our ability
to successfully execute our long-term value creation strategies;
our ability to execute on large capital projects, including
construction of new production lines or facilities; the competitive
environment and related conditions in the markets in which we and
our joint ventures operate; political and economic conditions of
the countries in which we and our joint ventures conduct business
and other factors related to our international operations;
disruptions in the global economy caused by the war in Ukraine and
the possible related heightening of our other known risks; impacts
on our business due to health pandemics or other contagious
outbreaks, such as the COVID-19 pandemic, including impacts on
demand for our products, increased costs, disruption of supply,
other constraints in the availability of key commodities and other
necessary services or restrictions imposed by public health
authorities or governments; disruption of our access to export
mechanisms; risks associated with other possible acquisitions; our
debt levels; changes in our relationships with our growers or
significant customers; the success of our joint ventures; actions
of governments and regulatory factors affecting our businesses or
joint ventures; the ultimate outcome of litigation or any product
recalls; our ability to pay regular quarterly cash dividends and
the amounts and timing of any future dividends; and other risks
described in our reports filed from time to time with the U.S.
Securities and Exchange Commission. We caution readers not to place
undue reliance on any forward-looking statements included in this
press release, which speak only as of the date of this press
release. We undertake no responsibility for updating these
statements, except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230620201586/en/
Investors: Dexter Congbalay 224-306-1535
Dexter.Congbalay@lambweston.com
Media: Shelby Stoolman 208-424-5461
shelby.stoolman@lambweston.com
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