OAK
BROOK, Ill., Aug. 4, 2023
/PRNewswire/ -- TreeHouse Foods, Inc. (NYSE: THS), a leading
private label food and beverage manufacturer in North America, today announced its 2030
Environmental, Social & Governance ("ESG") goals, centered
around three ESG strategic pillars: Environment & Climate;
People & Communities, and Products & Operations.
Additionally, the Company published its 2023 disclosures in
accordance with the Sustainability Accounting Standards Board
("SASB") Processed Food standard and the Task Force on
Climate-Related Financial Disclosure ("TCFD") framework. In
addition to the Company's SASB and TCFD disclosures, the TreeHouse
Foods CDP Climate Change Survey response can be found on the
Company's public-facing website.
These new 2030 ESG goals demonstrate TreeHouse Foods' ongoing
commitment to environmental and social responsibility as the
Company undergoes a strategic shift following the October 2022 divestiture of a significant portion
of its Meal Preparation business. The transaction simplified the
Company, sharpening focus on its higher-growth, higher-margin
private label snacking and beverage categories, and meaningfully
reduced the Company's manufacturing and distribution footprint.
With this increased agility, the Company has announced a number of
environmental impact-related goals, including reducing its Scope 1
and Scope 2 carbon footprint by 25% by 2030, and setting a
reduction target for Scope 3 emissions by the end of 2025. The
Company has also set goals around sustainable packaging and
responsible sourcing, aligning with the ESG objectives of many of
its customers.
"Advancing our ESG initiatives continues to be a top priority
for TreeHouse and I am pleased to share our updated goals for
2030," said Steve Oakland, Chairman,
CEO and President. "Our progress against these goals will benefit
more than our environment and our communities – it will also
strengthen our strategic partnerships with our customers on similar
ESG journeys, as we strive to bring our customers' ESG goals to
life."
Equity in the workforce is another priority for the company.
Along with the commitment to publicly disclose workforce data by
2030, the Company has also announced its intention to expand
recruiting efforts to attract and hire diverse talent.
TreeHouse's ESG goals include:
Environment & Climate
- Reduce Scope 1 & 2 GHG emissions by 25% by 2030
- Assess baseline Scope 3 calculations and establish reduction
goal by 2025
- Reduce water usage across manufacturing facilities by 20% by
2030
- Reduce Food Loss & Waste by 50% by 2030
- Increase company-wide landfill diversion to 90% by 2030
- By 2030, have 100% of packaging be recyclable, reusable, or
compostable
- Eliminate problematic and unnecessary plastics in packaging
where feasible by 2025
- Continue to maintain at least 20% post-consumer recycled
content average across all packaging
People & Communities
- Reduce Total Recordable Incident Rate (TRIR) by 20% by 2030 to
continue towards the goal of zero incidents
- We strive to have our workforce be representative of the
communities in which we operate, and the customers and consumers
who purchase our products by:
-
- Conducting annual DEI training by 2024 for all employees
- Providing intentional learning and development programming for
our employees
- Expanding recruiting efforts by partnering with community,
academic, and professional organizations to attract and hire
diverse talent
- Working to provide transparent internal mobility processes to
enable robust career growth
- Disclosing EEO-1 data by 2030 and annually thereafter
- Donate $50 million in volunteer
time, food, and/or cash to organizations focused on alleviating
food insecurity in our local communities by 2030
Products & Operations
- Direct source 100% RSPO physical certified palm oil by
2030
- Increase offerings of third-party certified responsibly sourced
cocoa by 2030
- Update our Responsible Sourcing Policy to include the
following:
-
- Animal Welfare expectations
- Supplier Diversity acknowledgement and commitment to increase
spend with diverse suppliers
- GFSI expectation for ingredient and food contact suppliers
- Roll out annual ESG supplier survey and scorecard for strategic
suppliers
To access the 2023 ESG disclosures and for more information,
visit the ESG page on the TreeHouse Foods website at
https://www.treehousefoods.com/esg.
ABOUT TREEHOUSE FOODS
TreeHouse Foods, Inc. is a leading private label food and
beverage manufacturer in North
America. Our purpose is to engage and delight - one customer
at a time. Through our customer focus and category experience, we
strive to deliver excellent service and build capabilities and
insights to drive mutually profitable growth for TreeHouse and for
our customers. Our purpose is supported by investment in depth,
capabilities and operational efficiencies which are aimed to
capitalize on the long-term growth prospects in the categories in
which we operate.
Additional information, including TreeHouse's most recent
statements on Forms 10-Q and 10-K, may be found at TreeHouse's
website, http://www.treehousefoods.com.
FORWARD-LOOKING STATEMENTS
This press release contains
"forward-looking" statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements and other information are based on our beliefs, as well
as assumptions made by us, using information currently available.
The words "believe," "estimate," "project," "expect," "anticipate,"
"plan," "intend," "foresee," "should," "would," "could," and
similar expressions, as they relate to us, are intended to identify
forward-looking statements. Such statements reflect our current
views with respect to future events and are subject to certain
risks, uncertainties, and assumptions. Should one or more of these
risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially
from those described herein as anticipated, believed, estimated,
expected, or intended. We do not intend to update these
forward-looking statements following the date of this press
release.
Such forward-looking statements, because they relate to future
events, are by their very nature subject to many important factors
that could cause actual results to differ materially from those
contemplated by the forward-looking statements contained in this
press release and other public statements we make. Such factors
include, but are not limited to: risks related to the impact that
the divestiture of a significant portion of our Meal Preparation
Business or any such divestiture might have on the Company's
operations; disruptions or inefficiencies in our supply chain
and/or operations; loss of key suppliers; raw material and
commodity costs due to inflation; labor strikes or work stoppages;
multiemployer pension plans; labor shortages and increased
competition for labor; success of our growth, reinvestment, and
restructuring programs; our level of indebtedness and related
obligations; disruptions in the financial markets; interest rates;
changes in foreign currency exchange rates; collectability of our
note receivable, customer concentration and consolidation;
competition; our ability to execute on our business strategy; our
ability to continue to make acquisitions and execute on
divestitures or effectively manage the growth from acquisitions;
impairment of goodwill or long lived assets; changes and
developments affecting our industry, including customer
preferences; the outcome of litigation and regulatory proceedings
to which we may be a party; product recalls; changes in laws and
regulations applicable to us; shareholder activism; disruptions in
or failures of our information technology systems; changes in
weather conditions, climate changes, and natural disasters; and
other risks that are set forth in the Risk Factors section, the
Legal Proceedings section, the Management's Discussion and Analysis
of Financial Condition and Results of Operations section, and other
sections of this Quarterly Report on Form 10-Q, our Annual Report
on Form 10-K for the year ended December 31,
2022, and from time to time in our filings with the
Securities and Exchange Commission ("SEC"). You are cautioned not
to unduly rely on such forward-looking statements, which speak only
as of the date made when evaluating the information presented in
this press release. TreeHouse expressly disclaims any obligation or
undertaking to disseminate any updates or revisions to any
forward-looking statement contained herein, to reflect any change
in its expectations with regard thereto, or any other change in
events, conditions or circumstances on which any statement is
based.
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SOURCE TreeHouse Foods, Inc.
