Commercial, Energy Efficiency, GHG Emissions - November 22, 2023
Starbucks to Establish New EPCI Board Committee
Starbucks Coffee Company announced its board of directors intends to establish a new Environmental, Partner and Community Impact (EPCI) board committee as part of its governance approach.
Since starting his role as CEO in March 2023, Laxman Narasimhan and the executive leadership team have worked together with partners (employees) and developed a set of six promises to the company’s most important stakeholders.
"Over the past year, we have been singularly focused on ensuring that we are well positioned for mutual success with all of our stakeholders,” said Starbucks CEO Narasimhan, in a statement. “Living our new mission and upholding our new set of promises and values every day is paramount to achieving this mutual success. This committee will keep us accountable and push us forward.”
The new committee will assist the Starbucks board in fulfilling its oversight responsibilities required to respond to shifting regulations and standards and drive accountability across Starbucks promises on environment, partners and community impact. The committee will also have oversight of internal and external reporting tools and assessments, including the annual Global Environment and Social Impact Report (GESI).
Starbucks has a history of pursuing ambitious goals and reporting on environmental, social and governance progress with intention, transparency and accountability.
The company will disclose its fiscal 2023 Human Rights Impact Assessment and the independent assessment of its adherence to the principles of freedom of association and the right to collective bargaining in fiscal Q1 2024. It will release its GESI Report in fiscal Q2 2024.
Beth Ford, currently a Starbucks director and President and CEO of Land O’Lakes, will serve as the independent chair of the EPCI Board Committee.
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