Hormel Foods Corporation, a global food company listed on the Fortune 500 (NYSE: HRL), has released its 17th annual Global Impact Report today. The report details the company’s advances in meeting its corporate responsibility and environmental, social, and governance (ESG) objectives for fiscal 2022.
“As a global branded food company, we understand our responsibility and our ability to make a positive impact,” said Jim Snee, chairman of the board, president and chief executive offer of Hormel Foods. “Our global impact report is a snapshot of Hormel Foods’ unwavering commitment to transparency and accountability as a corporate citizen. This report reflects our dedication to sustainability, ethical business practices, and our ongoing mission to nourish the world while caring for our planet. We are proud to share Our Food Journey toward a more sustainable and responsible food system with our stakeholders.” Highlights of the company’s 2022 progress include:
- Continued progress on the company’s corporate responsibility and ESG goals, officially named the 20 By 30 Challenge, which consists of 20 qualitative and quantitative goals and commitments to be achieved by the end of 2030. The goals were based on a key-topics assessment that helped the company identify and prioritize the issues most relevant to the business and its stakeholders. The 20 By 30 Challenge is aligned with the UN Sustainable Development Goals, committing to the advancement of our antibiotic stewardship efforts and piloting an antibiotic-use measurement and reporting system.
- Matching 100% of domestic energy use in fiscal 2022 with renewable sourcing.
- Being on track to have an approved science-based target in 2023 for the reduction of greenhouse gas (GHG) emissions.
- Investing in sustainable agricultural practices through a 50,000-acre pilot project in Minnesota that is designed to generate positive outcomes in environmental-impact measurement, water stewardship, carbon removals and agricultural resilience.
- Continued success with our groundbreaking two-year college-degree program, Inspired Pathways.
- Contributing more than $11.3 million in cash and products, including $9.1 million in hunger-relief donations.
- Making significant progress on creating a food-secure community program in Austin, Minn., with the additional goal of sharing the blueprint and findings with other communities.
Hormel Foods is recognized as a leading corporate citizen for its commitment to responsible and sustainable practices. Newsweek magazine named it one of America’s Most Trustworthy and Responsible Companies, while Fortune magazine listed it as one of the World’s Most Admired Companies. The company has been recognized 13 times on the 100 Best Corporate Citizens list by 3BL Media, and has also been included on the Investor’s Business Daily Annual Report of the 100 Best ESG Companies and Barron’s 100 Most Sustainable Companies. Additionally, Snee, the company’s CEO, was named 3BL Media’s 2022 Responsible CEO of the Year for his transformative leadership.
The 2022 Hormel Foods Global Impact Report follows the reporting guidance and principles of the Global Reporting Initiative (GRI) Standards and Sustainability Accounting Standards Board (SASB) Processed Foods and Meat, Poultry & Dairy Standards. It details projects and initiatives that support select UN Sustainable Development Goals. The content within this comprehensive report has been thoroughly reviewed and approved by the company’s ESG Council, internal experts, and vice presidents who oversee relevant ESG topics across the business.
