Tyson Foods Targets 2050 to Achieve Net Zero Greenhouse Gas Emissions
June 09 2021 - 6:59AM
Tyson Foods (NYSE: TSN), a leading global protein company, today
announced its ambition to achieve net-zero greenhouse gas (GHG)
emissions across its global operations and supply chain by 2050,
including scopes 1, 2 and 3. As the first U.S.-based protein
company to have an emissions reduction target approved by the
Science Based Targets initiative (SBTi), this ambition, in
conjunction with the release of the company’s fiscal year 2020
(FY20) Sustainability Progress Report, underscores the company’s
commitment to help combat the urgency of the growing climate change
crisis.
“At Tyson Foods, we believe progress requires accountability and
transparency and we are proud to exemplify that as we work to
achieve net-zero greenhouse gas emissions by 2050,” said John R.
Tyson, Chief Sustainability Officer, Tyson Foods. “As the first
U.S.-based protein company in the food and beverage sector to have
an emissions reduction target approved by the Science Based Targets
initiative, we hope to continue to push the industry as a leader
and remain committed to making a positive impact on our planet,
with our team members, consumers and customers, and in the
communities we serve.”
The move to net zero is an expansion of the company’s current
science-based target of achieving a 30% GHG emissions reduction by
2030, which is aligned with limiting global temperature rise to
2.0℃. As a global organization with 239 facilities and 139,000
employees worldwide, achieving net zero emissions is a large
undertaking which will look at emissions tied to direct global
operations, energy sources and throughout the company's supply
chain. Requiring a collective effort from every team member in
addition to external stakeholders, key areas the company will be
prioritizing to meet this goal include:
- Updating the baseline for emissions to align with limiting
global temperature rise to 1.5℃, consistent with the Paris
Agreement, by the end of 2023.
- Establishing a pathway to using 50% renewable energy across its
domestic operations by 2030.
- Completing initial land stewardship target of engaging
2-million feed acres and expanding the total acres by 2025,
including a total target of 100% of feed purchased by 2030.
- Expanding the company’s current 5-million-acre grazing lands
target for sustainable beef production practices by 2025.
- Continuing work to eliminate deforestation risk throughout its
global supply chain by 2030.
- Supporting climate action policies through advocacy groups such
as the Net Zero Business Alliance.
“We believe what good food can do for people and the planet is
powerful. Our net zero ambition is another important step in our
work toward realizing our aspiration to become the most transparent
and sustainable food company in the world,” said Donnie King, Tyson
Foods President and CEO. “Partnership and collaboration will be
critical to our efforts, and we look forward to working with our
customers, supply chain partners, and other stakeholders to achieve
net zero.”
Tyson Foods’ new ambition, along with the company’s existing
sustainability goals, is aligned with the UN Sustainable
Development Goals. As part of its ongoing work in this space, Tyson
will continue its involvement in World Wildlife Fund Forest Land
and Agriculture (FLAG) Consultative Group and continue partnerships
and collaborations with organizations such as World Resources
Institute, The Nature Conservancy, Environmental Defense Fund, and
World Wildlife Fund. Tyson will work with partners to identify and
build on the existing net zero pathway, focusing on investments,
renewable energy, land stewardship, deforestation, manure
management, farm energy, feed, fertilizer, enteric methane and
external partnerships.
“It’s great to see Tyson Foods embrace net zero as a business
imperative,” said Jenny Ahlen, Senior Director at Environmental
Defense Fund. "Success will be determined by what follows next,
because the hard work is only beginning. We're excited to work with
Tyson in developing an action plan and interim targets, and to
drive change at scale."
The introduction of this new ambition comes in conjunction with
the release of the company’s FY2020 Sustainability Progress Report
which details how the company is delivering on its sustainability
targets across all of its business operations and shares the
company’s integrated approach to sustainability. The report focuses
on three main pillars that reflect Tyson’s core values and goals:
Empowering People, Customers and Communities, Conserving
Natural Resources and Protecting Our Planet, and
Innovating Smart, Responsible Agriculture, and
puts accountability on each and every team member to think about
and enact meaningful change within their business units.
Key achievements in FY2020 include:
- Empowering People, Customers and Communities
- An industry-first addition of a Chief Medical Officer
position.
- Offered ESL, financial literacy and citizenship classes across
59 plants, representing more than half of our US-based
locations.
- The introduction of Upward Pathways, a new approach to create
opportunities for and encourage upward mobility for the company’s
team members.
- Donated more food in a year than ever before in the company’s
85-year history amounting to 31 million pounds or 124 million
meals, valued at $65 million.
- Conserving Natural Resources and Protecting Our
Planet
- Set new contextual water targets that consider local
environments and conditions across three priority facilities.
- Transitioned virgin fiber paperboard to 100% post-consumer
recycled (PCR) content across the Jimmy Dean® brand.
- Launched zero waste to landfill pilot projects at three
production facilities and diverted nearly 5.2 million pounds of
waste from landfills, a 60% increase from 2019.
- Innovating Smart, Responsible Agriculture
- Became the first U.S. food company to announce work to verify
sustainable production practices at scale in our beef supply
chain.
- Developed and publicly released a Forest Protection Standard
outlining steps to continue minimizing deforestation risk and
protect the forests in the 6% of the company’s land footprint that
was identified as medium-to-high risk of deforestation.
- Became the first company to receive third-party certification
by the Professional Animal Auditor Certification Organization
(PAACO) for all poultry audits within our FarmCheck audit
program.
The report and accompanying information can be found at Tyson
Foods’ Environmental, Social and Governance (ESG) Hub, which
provides resources on all sustainability initiatives, including
background information on key topics, ESG-related policies and an
ESG data center. More information on the company’s net zero
emissions ambition can be found here.
About Tyson FoodsTyson Foods, Inc., (NYSE: TSN)
is one of the world’s largest food companies and a recognized
leader in protein. Founded in 1935 by John W. Tyson and grown under
three generations of family leadership, the company has a broad
portfolio of products and brands like Tyson®, Jimmy
Dean®, Hillshire Farm®, Ball
Park®, Wright®, Aidells®, ibp®, and State Fair®.
Tyson Foods innovates continually to make protein more sustainable,
tailor food for everywhere it’s available and raise the world’s
expectations for how much good food can do. Headquartered in
Springdale, Arkansas, United States, the company has 139,000 team
members. Through its Core Values, Tyson Foods strives to operate
with integrity, create value for its shareholders, customers,
communities and team members and serve as a steward of the animals,
land and environment entrusted to it.
Visit WWW.TYSONFOODS.COM
Contact: KELSIE GIBBS, 405-919-9597Category: IR,
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