Outlines Progress and Programs to Drive Business Resilience
Published 05-25-23
Submitted by The Hershey Company
HERSHEY, Pa., May 25, 2023 /CSRwire/ - The Hershey Company (NYSE: HSY) shared its 2022 Environmental, Social, and Governance (ESG) Report, outlining progress toward its key sustainability priorities and goals. Our Shared Goodness Promise, Hershey's global sustainability strategy, guides how the company incorporates responsible and sustainable practices into every aspect of its business to drive long-term business resilience and growth. In 2022, Hershey reaffirmed its most material issues through its inaugural double materiality assessment and an update to the company's most salient human rights issues. The company remains focused on improving cocoa farming communities, ensuring human rights for people across its value chain, reducing its impact on the planet and creating a stronger and more resilient workforce.
On its journey to become a Leading Snacking Powerhouse, Hershey is embedding responsible and sustainable practices into its business transformation strategy to deliver its iconic brands for consumers to enjoy.
"As we continue to act on the most important areas of focus for our business, including responsible sourcing, reducing our carbon footprint, and promoting inclusivity, we are continually reminded that our progress and achievements are made possible by our employees, farmers, partners and other stakeholders who share our commitment to creating a more sustainable and equitable future," said Michele Buck, CEO, The Hershey Company. "We are grateful for their input and support and look forward to continuing this journey together."
Supporting Cocoa Communities and Farmer Livelihoods
By 2030, Hershey's Cocoa For Good strategy seeks to invest $500 million to positively impact cocoa farming communities. Hershey recently launched a new Income Accelerator in Côte d'Ivoire, a five-year program based on proven poverty reduction strategies that provides cash transfers and investment in Village Savings and Loan Associations to supplement farmer income and combat poverty. Additional cocoa highlights from 2022 include:
Acting on Climate Change
Across its global operations and with the dedication of employees – including its passionate group of Energy Champions – the company is reducing its environmental impact with a goal to achieve a 50% absolute reduction in Scope 1 and 2 greenhouse gas (GHG) emissions by 2030 against a 2018 baseline. In 2022, the company's Scope 1 and 2 emissions data received limited assurance by EY. Additional environment highlights from 2022 include:
Investing in a Resilient Supply Chain and Workforce
Hershey employees help the company realize its purpose to Make More Moments of Goodness each and every day. Guided by The Pathways Project – Hershey's five-year diversity, equity and inclusion (DEI) framework – the company continues to develop and invest in a pipeline that provides opportunities for all. Most recently, Hershey was named to DiversityInc's 2023 'Top Companies for Diversity' list – underscoring the company's ongoing work to create an inclusive environment that fosters innovation and growth. Additional highlights from 2022 include:
About The Hershey Company
The Hershey Company is headquartered in Hershey, Pennsylvania and 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 nearly 20,000 employees in the U.S. and around the world who work every day to deliver delicious, high-quality products. The company has more than 100 brand names in approximately 80 countries worldwide that drive more than $10.4 billion in annual revenues, including Hershey's, Reese's, Kit Kat®, Jolly Rancher and Ice Breakers, and fast-growing salty snacks including SkinnyPop, Pirate's Booty and Dot's Homestyle Pretzels.
For more than 125 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.
The Hershey Company is headquartered in Hershey, Pa., and is an industry-leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children succeed. Hershey has approximately 19,700 employees around the world who work every day to deliver delicious, quality products. The company has more than 100 brand names in approximately 80 countries around the world that drive more than $10 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Kit Kat®️, Jolly Rancher and Ice Breakers, and fast-growing salty snacks including SkinnyPop, Pirate's Booty and Dot's Pretzels.
For more than 125 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton S. Hershey, established The Hershey Chocolate Company in 1894 and created Milton Hershey School in 1909 which offers a cost-free education to students of need. The Hershey Company’s growth and success over the years has directly benefited the students of the Milton Hershey School as well as children across the United States and around the world through the company’s philanthropic partnerships focused on helping children succeed.
To learn more about Hershey visit www.thehersheycompany.com.
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