The Hershey Company - HSY STOCK NEWS

Hershey has launched the Hershey Income Accelerator Program (HIAP) to address challenges faced by cocoa farmers. The $40 million initiative aims to improve farmer income by 20% through cash transfers. In its first year, HIAP reached 1,850 farmers, with over 1,400 receiving initial payments. The program is scaling up to support 20,000 households.

HIAP complements Hershey's $500 million Cocoa For Good strategy and was developed in collaboration with Côte d'Ivoire's Conseil du Café-Cacao and partners CARE International, Rainforest Alliance, and PUR. The initiative aims to create a resilient supply chain by building long-term relationships with cooperatives and empowering farmers to implement sustainable farming practices.

The Hershey Company (NYSE: HSY) has appointed MiltonONE, a newly formed team from Publicis, as its agency of record for U.S. media across its candy, mint, gum (CMG), salty, and protein business units. This decision concludes a comprehensive review aimed at centralizing integrated media responsibilities. The review did not cover Hershey's international media. MiltonONE is a custom solution created by Publicis, bringing together top talent from various offices to exclusively service Hershey brands. Hershey's U.S. media head, Vinny Rinaldi, emphasized that Publicis's strategic planning, integrated investment, and data & technology enhancements will bolster Hershey's growth and media capabilities. MediaLink, a media and marketing advisory firm, guided Hershey through the review process.

The Hershey Company (NYSE: HSY) has announced that it will release its second-quarter sales and earnings results on August 1, 2024.

A conference call with analysts is scheduled for the same day at 8:30 a.m. ET.

The call will be accessible via a live webcast on the Hershey corporate website.

For more details, visit the 'CALENDAR OF EVENTS' section on the company's investor webpage.

The Hershey Company released its 2023 ESG Report, emphasizing its continued commitment to sustainability and resilience. The report showcases Hershey's priorities such as building a resilient cocoa supply chain and reducing environmental impact. Key initiatives include the Cocoa For Good strategy and the Hershey Income Accelerator Program, benefiting 1,850 farmers in its first year. Hershey also achieved significant milestones in emissions reduction and waste management, phasing out 1.7 million pounds of packaging material. As part of its refreshed sustainability strategy, Hershey plans to scale its efforts to meet emissions targets and enhance sustainable packaging. The company aims to strengthen its long-term relationships with cocoa farmers to build an economically resilient supply chain.

Hershey (NYSE: HSY) has updated its 2030 science-based greenhouse gas (GHG) emissions reduction targets. The company aims to reduce scope 1 and 2 GHG emissions by 50% from 2018 levels by 2030, having already achieved a 43% reduction. Hershey also targets a 36% reduction in scope 3 Forest Land and Agriculture (FLAG) emissions and a 30% reduction in non-FLAG emissions by 2030. The targets align with the Paris Agreement's goal to limit global warming to 1.5 degrees Celsius.

Initiatives include increasing renewable energy usage, promoting good agricultural practices, and preventing deforestation. In 2023, about 80% of Hershey’s electricity came from renewable sources. The company aims for a deforestation-free supply chain for cocoa, palm oil, pulp and paper, and soy by December 31, 2025.

Hershey chocolate scientist Allison Brown, PhD, volunteered with USAID's Farmer-to-Farmer program to assist cacao farmers in Trinidad and Tobago. Brown, alongside local farmers, developed value-added products like chocolate rum balls and cocoa nib horchata. They also explored using dried tropical fruits as sweeteners to reduce sugar content in chocolate. This initiative aimed to maximize the farmers' crop value and income. Hershey's support for Brown's participation underscores the company's commitment to employee development and sustainable practices in the cocoa supply chain.

Hershey (NYSE: HSY) has released its 2023 Environmental, Social, and Governance (ESG) Report, detailing progress and future ambitions across six sustainability priorities: cocoa, responsible sourcing, environment, people, youth, and community. Key achievements include the launch of the Hershey Income Accelerator Program, investments in children's education, and a new human rights framework. Hershey also reported significant strides in climate action, achieving a 43% reduction in Scope 1 and 2 greenhouse gas emissions since 2018, and reducing packaging waste by over 1.7 million pounds in 2023. Additionally, Hershey has made efforts to foster workplace innovation and growth, including a new leadership development program and initiatives to increase veteran hiring. The company aims to drive long-term business resilience and sustainability through these actions.

The Hershey Company celebrates women in manufacturing, highlighting their important roles from entry-level to leadership positions. Across the U.S., women represent about one-third of the manufacturing workforce, with Hershey actively promoting gender diversity. Nicole Henderson, Megan Isais, and Mary Leslie share their experiences, emphasizing the importance of mentorship, work-life balance, and the rewarding nature of manufacturing careers. Additionally, Hershey India achieved a significant milestone by integrating 100 women into its Mandideep plant within a year. Hershey remains committed to fostering an inclusive and empowering workplace.

Hershey has expanded its partnership with Earthworm Foundation and Airbus to achieve No-Deforestation Verification for its key ingredients and materials by the end of 2025. This initiative uses Starling, a satellite monitoring solution, to ensure real-time deforestation tracking and action. Hershey's updated policy aligns with the Science Based Targets initiative to reduce value chain emissions by 25% by 2030. The company is also investing in forest conservation and reforestation projects in Ghana, Côte d'Ivoire, and Indonesia, along with tree-planting partnerships in the U.S. and Mexico. These efforts aim to protect biodiversity, support local communities, and enhance the company's sustainability.