The Hershey Company Joins Ceres Company Network
The sustainability nonprofit organization Ceres announced today that The Hershey Company (NYSE: HSY) has joined the Ceres Company Network.
As a new member of the Ceres Company Network, Hershey joins more than 50 companies, including dozens of other Fortune 500 firms that recognize the benefits of integrating sustainability into their core business strategies to drive innovation and build long-term resilience. Through the network, Hershey will gain unique access to investors and other advocacy organizations that can provide the critical insights needed to strengthen the company’s performance on key environmental, social and governance issues, ranging from climate and water to human rights.
“The Hershey Company has a long and deep commitment to corporate responsibility,” said CEO Michele Buck. “As we evolve our business to meet the challenges of a changing marketplace, sustainability is essential to our vision for how we will thrive and innovate in the future. Our membership in the Ceres Company Network is a valuable opportunity to advance our sustainability strategy and progress.”
Hershey has taken numerous steps to strengthen its environmental and social performance to date.
In 2016, the company established its “25 by 25” goals, aiming to reduce greenhouse gas emissions, water consumption and waste by 25 percent by 2025, against a 2015 baseline. The company also committed to reducing packaging material by 25 million pounds by 2025 and is now over a third of the way towards achieving this goal.
In addition, Hershey is working to build a more sustainable agricultural supply chain through commitments to source 100 percent certified and sustainable cocoa, palm oil and coconut and sustainable sugar. Hershey has also committed to tracing all palm oil purchases to the mill level and plantation levels by 2020.
“The Hershey Company recognizes the link between sustainable business practices and strong company performance,” said Mindy Lubber, President and CEO of Ceres. “By factoring sustainability into its business strategy and decision making, Hershey can reduce supply chain risk and seize new opportunities to create long-term value for its shareholders and employees.”
The Hershey Company joins Brown-Forman, The Coca-Cola Company, Dunkin’ Brands, General Mills and PepsiCo as Ceres Company Network members from the food and beverage sector. The company is headquartered in Hershey, Pennsylvania, and employs 17,000 people globally.
To join the Ceres Company Network, members must have executive-level, public-facing sustainability goals and demonstrated commitment to transparency and stakeholder engagement. Learn more: https://www.ceres.org/networks/ceres-company-network.
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About Ceres
Ceres is a sustainability nonprofit organization working with the most influential investors and companies to build leadership and drive solutions throughout the economy. For more information, visit www.ceres.org and follow @CeresNews.
About The Hershey Company
The Hershey Company is known for bringing goodness to the world through its chocolate, sweets, mints and other great-tasting snacks. The company has more than 80 brands around the world that drive more than $7.5 billion in annual revenues, including such iconic brand names as Hershey's, Reese's, Hershey's Kisses, Jolly Rancher and Ice Breakers. Building on its core business, Hershey is expanding its portfolio to include a broader range of delicious snacks.
For more than 120 years, Hershey has been committed to operating fairly, ethically and sustainably. Hershey founder, Milton Hershey, created the Milton Hershey School in 1909 and since then the company has focused on giving underserved children the skills and support they need to be successful. Today, the company continues this social purpose through 'Nourishing Minds,' a global initiative that provides basic nutrition to help children learn and grow. From neighborhoods across the United States to the streets of Shanghai and Mumbai and villages of West Africa, our goal is to nourish one million minds by 2020.
To learn more, visit: www.thehersheycompany.com
