Hormel Foods Shares Food Journey Progress in 15th Annual Corporate Responsibility Report

Rhea-AI Summary

Hormel Foods Corporation (NYSE: HRL) launched its 15th annual corporate responsibility report, showcasing achievements from fiscal 2020 and new goals for 2030. The company exceeded targets in areas such as non-renewable energy, water use, and product packaging reductions. Hormel Foods was recognized as one of the 100 Best Corporate Citizens for the 12th consecutive year. Highlights include a commitment to diversity, significant donations over $8.2 million, and launching over 500 new food items. The report aligns with the Global Reporting Initiative standards, emphasizing transparency and accountability.

Positive

• Surpassed non-renewable energy use and water use goals.
• Achieved 15% of sales from innovative new products.
• Launched over 500 new retail and foodservice items.
• Continued emphasis on inclusion and diversity initiatives.
• Donated over $8.2 million to various community programs.

Negative

• None.

AUSTIN, Minn., Sept. 22, 2021 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL) today announced the launch of its 15^th annual corporate responsibility (CR) report. The report, available online at https://csr.hormelfoods.com/, contains in-depth information about the company's CR progress in fiscal 2020. In addition, the company has launched a new set of CR goals to guide its programs through 2030. 

"Our commitment to making the world in which we live a better place has never wavered. We're proud that we surpassed our 2020 nonrenewable energy use, water use, solid waste sent to landfills and product packaging reduction goals, and achieved our goal to deliver 15 percent of sales from innovative new items," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. "We're also excited for the next chapter of our journey — our 20 By 30 Challenge. Our future corporate responsibility reports will provide updates on our progress in achieving these important commitments."

For the 12^th year in a row, Hormel Foods was named one of the 100 Best Corporate Citizens by 3BL Media in 2020. The company was also named one of America's Most Responsible Companies by Newsweek, one of the 50 Best Companies to Sell For by Selling Power magazine and a Best for Vets Employer by Military Times, among numerous other accolades.

As part of Our Food Journey™, Hormel Foods is committed to producing food responsibly for customers and consumers by investing in its people and partners; improving communities and the world; and creating products that improve the lives of others.

Additional highlights of the company's progress in 2020 include:

• Implementing projects to reduce water use by 119 million gallons, energy use by more than 98,000 MMBtu and product packaging by over 533,000 pounds.    
• Conducting more than 1,900 audits to ensure the company's high standards for animal care are being met. In addition, in January 2021 the company launched its first Antibiotic Stewardship Report, which provides comprehensive, detailed and transparent information about the company's antibiotic stewardship program and metrics from some of the farms in its supply chain over the last several years.
• Launching over 500 new retail and foodservice items. The company also continued its clean-label initiative to simplify the ingredient statements of many of its products and its sodium reduction efforts. 
• Continuing to place great emphasis on its inclusion and diversity efforts. In 2020, Hormel Foods partnered with a wide array of business associations to support inclusion and diversity both internally and externally. To support education and equity, the company assisted several nonprofit organizations and announced its Inspired Pathways program — a game-changing initiative that provides a free, two-year-college education to the dependent children of the company's team members. This monumental program will help many first-generation college students.
• Keeping its promise to maintain a Safety First culture by launching a KEEP COVID OUT! campaign. The company's efforts included proactive and transparent educational materials; a paid leave and pay protection program; access to personal protective equipment; enhanced sanitation procedures, daily wellness screenings and several online town hall meetings with health care experts from the Mayo Clinic. In addition, the company paid more than $11 million in special cash bonuses to its essential production professionals. Hormel Foods also opened a state-of-the-art health center located in Austin, Minn., close to its global headquarters and flagship plant, which improves access to high-quality, affordable health care for Hormel Foods team members and their dependent family members.
• Donating more than $8.2 million in cash and products to help lift up communities. This included $6.4 million in donations to fight hunger, a donation of 1.9 million cans of SPAMMY^® (a shelf-stable poultry product to help prevent childhood malnutrition in Guatemala) and more than $1 million in education donations.

"Thanks to the incredible effort and dedication of our team members, partners and suppliers, we continue to achieve outstanding results," Snee said. "We look forward to working together to advance our efforts even more through our 20 By 30 Challenge."

The 2020 Hormel Foods Corporate Responsibility Report follows the Global Reporting Initiative's standards and is developed in accordance with the core option. The report is designed to allow stakeholders to easily view top-line highlights.

To view the entire report, please visit https://csr.hormelfoods.com/. A downloadable PDF will be available in the near future.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™
Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 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^® 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 Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for 12 years, 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 www.hormelfoods.com and http://csr.hormelfoods.com/.

Contact: Kelly Braaten
507-434-6352
media@hormel.com

 

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SOURCE Hormel Foods Corporation

FAQ

What recent goals has Hormel Foods set in their corporate responsibility report?

Hormel Foods set new corporate responsibility goals to guide its programs through 2030.

How much did Hormel Foods donate to community programs in 2020?

Hormel Foods donated over $8.2 million to community programs in 2020.

What is the significance of Hormel Foods' 15th annual corporate responsibility report?

The report highlights Hormel Foods' achievements in corporate responsibility and outlines future goals.

How did Hormel Foods perform in energy and water use reduction?

Hormel Foods exceeded its goals for reducing non-renewable energy and water use in 2020.

What recognition did Hormel Foods receive for corporate citizenship?

Hormel Foods was named one of the 100 Best Corporate Citizens by 3BL Media for the 12th year in a row.