Energy Efficiency, GHG Emissions, Industrial, Sourcing Renewables - August 7, 2024
Hormel Foods' Emission Goals Validated by SBTi
Hormel Foods Corporation, a Fortune 500 global-branded food company, announced its science-based targets were validated by the Science Based Target Initiative (SBTi), formalizing the company's 2030 emissions reduction targets for Scope 1, 2 and 3 emissions.
The company’s goals include a 50% reduction of absolute GHG emissions from its operations by 2030 and a 27.5% absolute GHG emissions reduction within its supply chain.
As detailed in its 18th Global Impact Report, Hormel Foods strives to maximize its use of renewable energy and to pursue energy-efficiency projects to lower its GHG gas emissions. The company matched 100% of domestic energy use with renewable sourcing.
"Responsible business practices have — and will always be — fundamental to our company," said Jim Snee, chairman of the board, president and CEO of Hormel Foods, in a statement. "Since our founding more than 130 years ago, we've been passionate about making the world a better place. We recognize our role in shaping a better future for generations to come and that our reach and scale enable us to make a significant impact and be a positive influence. Our Global Impact Report reflects where we are today and is a road map for where we aspire to be in the future."
The 2023 Hormel Foods Global Impact Report follows Global Reporting Initiative (GRI) Standards and follows the reporting guidance and principles of Sustainability Accounting Standards Board (SASB) Processed Foods and Meat, Poultry & Dairy Standards. Projects and initiatives featured in the report include information about the efforts of Hormel Foods that support United Nations Sustainable Development Goals.
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