The Hershey Company today shared its 2021 ESG Report, highlighting the company’s goals and progress across its priority ESG areas including cocoa sustainability, environmental sustainability, responsible sourcing, and human rights. This year’s report marks Hershey’s evolution from sustainability to ESG reporting, a reflection of the company’s progress integrating ESG priorities into business strategy and operations.
Reducing Environmental Impact to Combat Climate Change
Hershey is making progress toward its science-based targets. The company achieved a 48% reduction of its Scope 1 and Scope 2 greenhouse gas (GHG) emissions; significant progress toward its 2030 goal of a 50% absolute reduction, compared to a 2018 baseline. The company also reported an 18% reduction in Scope 3 emissions, on track to reach its goal of a 25% absolute reduction in Scope 3 emissions by 2030, compared to a 2018 baseline.
How the Company Achieved Progress on Science- Based Targets (SBTs)
Scope 1 (Direct) and Scope 2 (Indirect):
- Invested in three solar farm projects with the first coming online in 2021 and the other two scheduled to generate power in 2022 and 2024.
- Purchased zero-emissions credits to support our progress while the solar farms are constructed.
- Identified opportunities and invested in reducing the energy intensity of manufacturing.
- Reduced coal usage (already phased out in 2022) within our India plant, where we’ve transitioned to using rice husks as biofuel.
Scope 3 (Value Chain Emissions)
- Strengthened on-farm sustainability.
- Reduced land use change through 100% independently verified cocoa sourcing.
- Supported regenerative agricultural practices in collaboration with partners and suppliers.
With more than 96% of Hershey’s total GHG emissions resulting from its extended value chain, the company seeks to further its impact across sourcing, production, operations and manufacturing. Hershey’s key drivers of progress include reducing land use change through 100% independently verified cocoa and partnering with dairy and sugar suppliers on sustainable farming practices.
Integrating ESG into Business Operations
Hershey has built a comprehensive corporate governance model to drive its ESG strategy forward across the business, overseen by its Board of Directors. In 2021, Hershey updated its governance structure to better integrate, manage and optimize ESG as a key part of business operations. The company also established an ESG Advisory Committee of executive team members and senior leaders to discuss proposed investments, disclosures, and policy changes and review ESG strategic direction.
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June 01, 2022 at 09:16PM
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How The Hershey Company Reduced Emissions 48% - Environment + Energy Leader
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