Global branded food company sets ambitious
targets for reducing greenhouse gas emissions across its value
chain over next 7 years
AUSTIN,
Minn., Oct. 4, 2023 /PRNewswire/ -- Hormel Foods
Corporation (NYSE: HRL), a Fortune 500 global branded food
company known for its commitment to sustainability, recently had
its greenhouse gas (GHG) reduction targets validated by the Science
Based Targets initiative (SBTi). The company has committed to
reduce absolute GHG emissions from its operations 50% by 2030 from
a 2019 base year. Hormel Foods also commits to reduce absolute GHG
emissions within its supply chain 27.5% within the same
timeframe.
The company's ambitious targets are in line with the trajectory
established during the Paris Climate Agreement to limit average
temperatures rising by more than 1.5 degrees Celsius above
pre-industrial levels.
"We are proud to announce these ambitious targets to help fight
climate change," said Tom Raymond,
director of environmental sustainability at Hormel Foods. "It is
going to require all team members, partners and supply-chain
members to reach these goals and continue to decarbonize every part
of our value chain."
The company has already taken a variety of measures to reduce
greenhouse gas emissions, including its energy efficiency and
reduction efforts. In 2022, Hormel Foods increased its procurement
of domestic renewable electricity from less than 10% to 100%
through Power-Purchase Agreements that generate over 936 million
kWh hours during 2022. For these efforts, the company has received
awards from the Environmental Protection Agency and the Center for
Resource Solutions.
Additionally, Hormel Foods received a ProFood World
Sustainability Excellence in Manufacturing Award for its efforts to
reduce water and energy at its progressive processing plant.
For more information about the company's 20 By 30
Challenge and environmental stewardship efforts, please visit
the 2022 global impact report here.
About Hormel Foods — Inspired People. Inspired
Food.™ Hormel Foods Corporation, based in
Austin, Minn., is a global branded
food company with over $12 billion in
annual revenue across more than 80 countries worldwide. Its brands
include Planters®, Skippy®,
SPAM®, Hormel® Natural Choice®,
Applegate®, Justin's®, Wholly®,
Hormel® Black Label®,
Columbus®, Jennie-O® and more than
30 other beloved brands. The company is a member of the S&P 500
Index and the S&P 500 Dividend Aristocrats, was named on the
"Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of
Fortune magazine's most admired companies, has appeared on the "100
Best Corporate Citizens" list by 3BL Media 13 times, and has
received numerous other awards and accolades for its corporate
responsibility and community service efforts. The company lives by
its purpose statement — Inspired People. Inspired
Food.™ — to bring some of the world's most trusted
and iconic brands to tables across the globe. For more information,
visit hormelfoods.com and csr.hormelfoods.com.
Contact:
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SOURCE Hormel Foods Corporation