Global branded food company Hormel Foods announced today a series of new climate targets, including a goals to reduceabsolute greenhouse gas (GHG) emissions from its operations 50%, and within its supply chain 27.5% by 2030, compared to a 2019 base year.
The company said that its GHG reduction targets have been validated by the Science Based Targets initiative (SBTi), adding that the goals are aligned with the Paris Agreement ambition to limit average temperature rise to 1.5°C.
Food and beverage sector emissions account for about a third of global GHG emissions and are among the most difficult to address, with the vast majority coming from the supply chains of food and beverage companies, rather than from “direct” emissions from the companies’ operations.
Hormel detailed initiatives it has taken to reduce emissions, including increasing its procurement of domestic renewable electricity from less than 10% to 100% last year through power-purchase agreements that generated over 936 million kWh hours during 2022. For these efforts, the company has received awards from the Environmental Protection Agency and the Center for Resource Solutions.
Tom Raymond, director of environmental sustainability at Hormel Foods said:
“We are proud to announce these ambitious targets to help fight climate change. It is going to require all team members, partners and supply-chain members to reach these goals and continue to decarbonize every part of our value chain.”