HERSHEY,
Pa., June 18, 2024 /PRNewswire/ -- Hershey
(NYSE: HSY) announced today that it has updated its 2030
science-based greenhouse gas (GHG) emissions reduction targets
against the latest standards. A detailed accounting of the
company's footprint and science-based targets are foundational to
the company's strategy to drive progress on emissions
reduction.
"At Hershey, our business depends on ingredients grown around
the world and the health of those ecosystems," said Rachel Grunberg, senior manager of environmental
sustainability at The Hershey Company. "We have a responsibility to
reduce our carbon footprint to build resiliency for our business
and the planet and are doing so with challenging goals aligned with
best-in-class science to inform our strategy."
Hershey's target to reduce scope 1 and 2 GHG emissions by 50% by
2030 from a 2018 baseline was re-validated by the Science Based
Targets initiative (SBTi). To date, Hershey has achieved a 43%
reduction against this target. The company has also set near-term
Forest Land and Agriculture (FLAG)
and non-FLAG targets. It is committed to reduce scope 3 Forest Land
and Agriculture (FLAG) emissions by 36% and non-FLAG emissions by
30% by 2030. These newly validated targets are in line with climate
science and are consistent with levels necessary to meet the Paris
Agreement's goals to limit global warming to 1.5 degrees
Celsius.
Hershey implements a variety of programs and initiatives across
its operations and its supply chain to reduce its carbon
footprint.
Reducing Energy Consumption and Leveraging Renewable
Energy
To improve energy consumption and efficiency, Hershey has
created a cross-functional team to oversee delivery of plant-level
energy reduction targets. In 2023, Hershey sourced approximately
80% of electricity from renewable and zero-emission sources, an
increase made through a combination of solar Power Purchase
Agreements, Renewable Energy Credits, and Zero Emission Credits and
investments in, including:
- Directly sourcing hydropower for facilities in Brazil and Canada
- Operational PPAs that delivered approximately 25% of U.S.
electricity needs
- 100% renewable or zero-emission electricity for manufacturing
facilities for confectionery in the U.S. and Canada and several of our salty brands
Scaling Good Agricultural Practices
The company leveraged partnerships to promote good agricultural
practices and technology to mitigate risks from climate change in
cocoa, dairy and sugar supply chains. A selection of projects
include:
- Investing in farmers to improve livelihoods and manage climate
variability through implementation of soil health improvement and
agroforestry with the Hershey Income Accelerator Program
- Piloting projects like the Sustainable Dairy PA program which
implements riparian forest buffers, nutrient management,
conservation tillage, and manure management practices
- Promoting regenerative agricultural initiatives such as the
North Dakota Trusted Advisor Partnership to promote the use of
cover crops and reduced tillage
Preventing Deforestation and Advancing Biodiversity
Preventing deforestation and conversion caused by changing land
use is another important driver in reducing Scope 3 emissions. In
2023, Hershey accelerated its commitment by five years to achieve a
deforestation and conversion-free supply chain for cocoa, palm oil,
pulp and paper, and soy to December 31,
2025. Examples of these initiatives include:
- Restoring forest habitat with the Arbor Day Foundation,
planting one million trees and restoring more than 2,300 acres of
forest as part of this partnership since 2017
- Partnered with the Foundation for Parks and Reserves of
Cote d'Ivoire on conservation of
the Mabi-Yaya Nature Reserve to restore forest on 687 hectares of
degraded land
To learn more about Hershey's sustainability strategy and
progress, view the company's ESG Report.
About The Hershey Company
The Hershey Company is an industry-leading snacks company known
for making more moments of goodness through its iconic brands,
remarkable people and enduring commitment to doing the right thing
for its people, planet, and communities. Hershey has more than
20,000 employees in the U.S. and worldwide who work daily to
deliver delicious, high-quality products. The company has more than
90 brand names in approximately 80 countries that drive more than
$11.2 billion in annual revenues,
including Hershey's, Reese's, Kisses, Kit Kat®, Jolly Rancher,
Twizzlers and Ice Breakers, and salty snacks including SkinnyPop,
Pirate's Booty and Dot's Homestyle Pretzels.
For 130 years, Hershey has been committed to operating fairly,
ethically and sustainably. The candy and snack maker's founder,
Milton Hershey, created Milton Hershey School in 1909, and since then,
the company has focused on helping children succeed through
equitable access to education.
To learn more visit www.thehersheycompany.com.
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SOURCE The Hershey Company