Hormel named one of Barron’s Most Sustainable U.S. Companies
Published 6:23 pm Friday, March 10, 2023
Continues its global impact and ESG leadership
Hormel Foods Corporation was named to Barron’s list of the 100 most sustainable U.S. companies for 2023. The company ranked No. 23 on the prestigious list, which is the sixth ranking by Barron’s of the 1,000 largest publicly traded companies across 200-plus environmental, social and governance (ESG) performance indicators.
As one of the most admired food companies in the world, Hormel Foods, through its award-winning Our Food Journey efforts, is committed to producing food responsibly for customers and consumers by investing in its people and partners, improving communities and the world, and creating products that enrich the lives of people.
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“We are honored to be recognized as one of Barron’s 100 Most Sustainable Companies,” said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. “We understand the responsibility that comes with being a sustainable food company, and we take that responsibility seriously. We have an incredible team of 20,000 people who take pride in the work we are doing. We know that our environmental, social and governance commitments and achievements matter, not only to our shareholders, but to our customers, consumers and communities where we live and work.”
In 2022, Hormel Foods supported food-security programs and disaster-relief efforts with partners such as World Central Kitchen, Feeding America, Conscious Alliance and Convoy of Hope. In addition, the company supported equity in education and continued its groundbreaking Inspired Pathways program that provides a free two-year-college education to the dependent children of its team members.
Additionally, Hormel Foods has an ambitious set of corporate responsibility goals that it will strive to achieve by 2030 (its 20 By 30 Challenge). The 20 by 30 Challenge includes initiatives surrounding climate leadership, including matching 100% of the company’s energy with renewable sourcing and the establishment of science-based targets for reduction of greenhouse gas emissions.
The goals also include efforts focused on regenerative and sustainable agriculture, packaging sustainability, water stewardship, food security and human rights. More information on the Hormel Foods global impact and sustainability efforts can be found at www.hormelfoods.com/responsibility/.
To build its sustainable companies list, Barron’s worked with Calvert, a leader in ESG investing. Starting with the 1,000 largest publicly traded companies by market value, Calvert ranked each one by how it performed in five key constituencies: shareholders, employees, customers, community and the planet. Specifically, Calvert looked at more than 230 ESG performance indicators from seven rating companies, including ISS, MSCI and Sustainalytics, along with using other data and Calvert’s internal research.
To view the complete list of Barron’s 100 Most Sustainable U.S. Companies for 2023, visit: www.barrons.com/articles/most-sustainable-esg-us-companies-1b5f70fd?mod=Searchresults. Additional information about the company’s global impact efforts can be found at https://csr.hormelfoods.com/.