Leading Corporate Citizen Hormel Foods Announces It Will Match 100 Percent of its Global Energy Use with Renewable Sourcing and Establish Science Based Targets for the Reduction of Greenhouse Gas Emissions

Rhea-AI Summary

Hormel Foods Corporation (HRL) announced ambitious environmental sustainability goals as part of its 20 By 30 Challenge. By 2030, the company aims to match 100% of its global energy use with renewable sources and set science-based targets for greenhouse gas emissions reduction by 2023. Hormel also plans to enhance water quality through regenerative agriculture initiatives. These initiatives build on previous achievements in reducing packaging, energy use, emissions, water use, and landfill waste. Hormel has received recognition for its corporate responsibility, being named among the best corporate citizens and responsible companies.

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• Aiming to match 100% of global energy use with renewable sources.
• Setting science-based greenhouse gas emissions reduction targets by 2023.
• Plans to improve water quality through regenerative agriculture initiatives.

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• None.

AUSTIN, Minn., Jan. 28, 2021 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a global branded food company, today announced its new set of leading environmental sustainability goals, which are part of the company's 20 By 30 Challenge. In continuing with its corporate responsibility leadership, the company will strive to achieve 20 corporate responsibility goals by 2030 and will report its progress annually. The company's new goals follow its previous set of sustainability goals in which the company achieved significant reductions in its packaging, nonrenewable energy use, greenhouse gas emissions, water use and solid waste sent to landfills.

The company's new environmental sustainability goals include:

- Matching 100 percent of its global energy use with renewable sourcing.

- Establishing important science based greenhouse gas emissions reduction targets by 2023.

- Taking action across its supply chain to improve water quality, including the support of regenerative agriculture initiatives.

"For nearly 130 years, Hormel Foods has continued to showcase its citizenship and stewardship by using its size and resources to make a difference. From sustainable packaging initiatives to water and energy stewardship, our global team of inspired people is committed to making lasting and measurable progress in protecting our natural resources," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. "We know that good business and good stewardship go hand in hand, and these goals are designed to enable improvements that will ultimately make our food supply better for us all."

"Our worldwide team of professionals and supply chain partners are ready to step up to the challenge to help us achieve these important sustainability goals," said Mark Coffey, senior vice president of supply chain and manufacturing at Hormel Foods. "Together, we will deliver results that will make a significant contribution toward the reduction of greenhouse gas emissions, improvement of water quality and the continued advancement of sustainable agriculture practices in our supply chain."

Hormel Foods continues to receive recognition for its corporate responsibility efforts and performance, including being named one of the 100 Best Corporate Citizens for 12 years in a row by 3BL Media and one of America's Most Responsible Companies by Newsweek magazine for two consecutive years, in addition to many others.

Hormel Foods will release additional goals that are part of its 20 By 30 Challenge in future announcements, which will include goals surrounding education, community support and food security. More information about the company's efforts can be found at https://csr.hormelfoods.com/ and https://www.hormelfoods.com/responsibility/.

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 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 straight years, is one of Fortune magazine's most admired companies, has appeared on Corporate Responsibility Magazine's "The 100 Best Corporate Citizens" list for the 12^th year in a row, 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 are Hormel Foods' new sustainability goals for 2030?

Hormel Foods aims to match 100% of its global energy use with renewable sources and establish science-based greenhouse gas emissions reduction targets by 2023.

When did Hormel announce its sustainability goals?

Hormel announced its new environmental sustainability goals on January 28, 2021.

What are the components of Hormel Foods' 20 By 30 Challenge?

The 20 By 30 Challenge includes matching energy use with renewable sources, reducing greenhouse gas emissions, and improving water quality in the supply chain.

How has Hormel Foods been recognized for its corporate responsibility?

Hormel Foods has been named one of the 100 Best Corporate Citizens for 12 consecutive years and recognized as one of America's Most Responsible Companies for two consecutive years.

What is Hormel Foods' revenue?

Hormel Foods generates over $9 billion in annual revenue.