Sysco Announces Science-Based Climate Goal, Leads U.S. Foodservice Distribution Industry by Committing to Reduce Emissions by 2030

Rhea-AI Summary

Sysco Corporation (NYSE: SYY) has set industry-leading climate goals aimed at significantly reducing its carbon emissions. The company will electrify 35% of its U.S. tractor fleet by 2030, which is about 2,500 electric trucks, and ensure global operations are powered by 100% renewable energy by the same year. Sysco aims to cut Scope 1 and 2 emissions by 27.5% and work with suppliers to establish science-based targets covering 67% of its Scope 3 emissions by 2026. This initiative aligns with the Paris Agreement and is part of Sysco's broader sustainability commitments.

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• Commitment to reduce Scope 1 and 2 emissions by 27.5% by 2030.
• Plan to electrify 35% of U.S. tractor fleet, adding nearly 2,500 electric trucks.
• Goal to source 100% renewable energy for global operations by 2030.
• Engagement with suppliers to cover 67% of Scope 3 emissions with science-based targets by 2026.

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Commits to electrify 35% of its U.S. tractor fleet, source 100% renewable energy globally and partner with suppliers to set science-based targets

HOUSTON, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced today it has set an ambitious, industry-leading climate goal to reduce emissions across its global operations and the company’s entire value chain.

Sysco’s new science-based emissions reduction target aligns with the Paris Agreement and is an integral part of the company’s roadmap to reducing its carbon footprint over the next decade. The company is pursuing validation of the goal by the Science-Based Targets initiative and aims to:

• Reduce its Scope 1 and 2 emissions by 27.5% by 2030, and
• Ensure that suppliers covering 67% of Sysco’s Scope 3 emissions establish science-based targets by 2026.

Sysco’s Scope 1 and 2 reduction efforts will be achieved in part by electrifying 35% of the company’s U.S. tractor fleet by 2030, equivalent to adding nearly 2,500 electric trucks to its fleet. In addition, the company will source 100% renewable electricity for its global operations by 2030.

Partnering with suppliers will be an essential element to achieving the company’s bold 2026 Scope 3 target as they represent the largest emissions reduction opportunities. The company will leverage existing momentum, as nearly half of the targeted Scope 3 emissions relate to suppliers that have already committed to or set science-based targets.

“At Sysco, we recognize and take seriously our role as a global industry leader. We understand that taking action now on climate change is important to the future of our planet and have developed an actionable, achievable plan with a clear roadmap to meaningfully reduce emissions. Over time, we believe we will be able to do more and are motivated to further our work across the value chain to quicken the pace of innovation and provide a pathway for other companies to participate in climate action,” said Neil Russell, Sysco’s Senior Vice President of Corporate Affairs and Chief Communications Officer, “To ensure we hold our selves accountable, our CSR strategy is now an integral part of our new business strategy, our Recipe for Growth, which is designed to advance our pace of leadership, further differentiate Sysco, create a sustainable competitive advantage and make a positive impact on the world.”

More information about the new climate goal can be found in Sysco’s 2021 Corporate Social Responsibility (CSR) Report, which documents the company’s continued progress toward its 2025 CSR goals and fulfilling its purpose of “connecting the world to share food and care for one another.” The report highlights Sysco’s achievements in caring for people, sourcing products responsibly and protecting the planet. Highlights of the report include:

• Donating over 27 million meals globally in FY2021, and over 50 million since the beginning of the pandemic, to help address hunger and food insecurity.
• Announcing its Global Good Goal, which expands Sysco’s charitable giving efforts to generate $500 million worth of good by 2025.
• Achieving the company’s sustainable seafood goals and expanding its future commitments to drive higher standards in the industry.
• Partnering to launch a sustainable grazing initiative for over 1 million acres to help tackle climate change and promote biodiversity.
• Expanded the company’s Sustainable Agriculture Program to ten fresh crops, exceeding its goal of expanding to five fresh crops.
• Successfully eliminating, in Sysco’s Brakes UK location, the use of all black plastics throughout its product categories and reduced food waste 25 percent by redirecting food to nearby charities.

Users can access SASB and GRI indices on sysco.com. For more information and to view the 2021 CSR report, visit www.sysco.com/csr2021report.

About Sysco
Sysco is the global leader in selling, marketing and distributing food products to restaurants, healthcare and educational facilities, lodging establishments and other customers who prepare meals away from home. Its family of products also includes equipment and supplies for the foodservice and hospitality industries. With more than 58,000 associates, the company operates 343 distribution facilities worldwide and serves more than 650,000 customer locations. For fiscal 2021 that ended July 3, 2021, the company generated sales of more than $51 billion. Information about our CSR program, including Sysco’s 2021 Corporate Social Responsibility Report, can be found at www.sysco.com/csr2021report.

For more information, visit www.sysco.com or connect with Sysco on Facebook at www.facebook.com/SyscoFoods. For important news and information regarding Sysco, visit the Investor Relations section of the company’s Internet home page at investors.sysco.com, which Sysco plans to use as a primary channel for publishing key information to its investors, some of which may contain material and previously non-public information. In addition, investors should continue to review our news releases and filings with the SEC. It is possible that the information we disclose through any of these channels of distribution could be deemed to be material information.

For more information contact:
Kevin Kim Investor Contact kevin.kim@sysco.com T 281-584-1219	Shannon Mutschler Media Contact shannon.mutschler@sysco.com T 281-584-4059

FAQ

What are Sysco's new climate goals for emissions reduction?

Sysco aims to reduce its Scope 1 and 2 emissions by 27.5% by 2030 and work with suppliers to cover 67% of its Scope 3 emissions with science-based targets by 2026.

How many electric trucks will Sysco add to its fleet?

Sysco plans to electrify 35% of its U.S. tractor fleet, which is approximately 2,500 electric trucks, by 2030.

When does Sysco plan to source 100% renewable energy?

Sysco aims to source 100% renewable energy for its global operations by 2030.

How does Sysco's climate strategy align with global agreements?

Sysco's emissions reduction target aligns with the Paris Agreement, reflecting its commitment to climate action.