Hershey Co Stock Price, News & Analysis

The Hershey Company released its 2023 ESG Report, emphasizing its continued commitment to sustainability and resilience. The report showcases Hershey's priorities such as building a resilient cocoa supply chain and reducing environmental impact. Key initiatives include the Cocoa For Good strategy and the Hershey Income Accelerator Program, benefiting 1,850 farmers in its first year. Hershey also achieved significant milestones in emissions reduction and waste management, phasing out 1.7 million pounds of packaging material. As part of its refreshed sustainability strategy, Hershey plans to scale its efforts to meet emissions targets and enhance sustainable packaging. The company aims to strengthen its long-term relationships with cocoa farmers to build an economically resilient supply chain.

Hershey (NYSE: HSY) has updated its 2030 science-based greenhouse gas (GHG) emissions reduction targets. The company aims to reduce scope 1 and 2 GHG emissions by 50% from 2018 levels by 2030, having already achieved a 43% reduction. Hershey also targets a 36% reduction in scope 3 Forest Land and Agriculture (FLAG) emissions and a 30% reduction in non-FLAG emissions by 2030. The targets align with the Paris Agreement's goal to limit global warming to 1.5 degrees Celsius.

Initiatives include increasing renewable energy usage, promoting good agricultural practices, and preventing deforestation. In 2023, about 80% of Hershey’s electricity came from renewable sources. The company aims for a deforestation-free supply chain for cocoa, palm oil, pulp and paper, and soy by December 31, 2025.

Hershey chocolate scientist Allison Brown, PhD, volunteered with USAID's Farmer-to-Farmer program to assist cacao farmers in Trinidad and Tobago. Brown, alongside local farmers, developed value-added products like chocolate rum balls and cocoa nib horchata. They also explored using dried tropical fruits as sweeteners to reduce sugar content in chocolate. This initiative aimed to maximize the farmers' crop value and income. Hershey's support for Brown's participation underscores the company's commitment to employee development and sustainable practices in the cocoa supply chain.

Hershey (NYSE: HSY) has released its 2023 Environmental, Social, and Governance (ESG) Report, detailing progress and future ambitions across six sustainability priorities: cocoa, responsible sourcing, environment, people, youth, and community. Key achievements include the launch of the Hershey Income Accelerator Program, investments in children's education, and a new human rights framework. Hershey also reported significant strides in climate action, achieving a 43% reduction in Scope 1 and 2 greenhouse gas emissions since 2018, and reducing packaging waste by over 1.7 million pounds in 2023. Additionally, Hershey has made efforts to foster workplace innovation and growth, including a new leadership development program and initiatives to increase veteran hiring. The company aims to drive long-term business resilience and sustainability through these actions.

The Hershey Company celebrates women in manufacturing, highlighting their important roles from entry-level to leadership positions. Across the U.S., women represent about one-third of the manufacturing workforce, with Hershey actively promoting gender diversity. Nicole Henderson, Megan Isais, and Mary Leslie share their experiences, emphasizing the importance of mentorship, work-life balance, and the rewarding nature of manufacturing careers. Additionally, Hershey India achieved a significant milestone by integrating 100 women into its Mandideep plant within a year. Hershey remains committed to fostering an inclusive and empowering workplace.

Hershey has expanded its partnership with Earthworm Foundation and Airbus to achieve No-Deforestation Verification for its key ingredients and materials by the end of 2025. This initiative uses Starling, a satellite monitoring solution, to ensure real-time deforestation tracking and action. Hershey's updated policy aligns with the Science Based Targets initiative to reduce value chain emissions by 25% by 2030. The company is also investing in forest conservation and reforestation projects in Ghana, Côte d'Ivoire, and Indonesia, along with tree-planting partnerships in the U.S. and Mexico. These efforts aim to protect biodiversity, support local communities, and enhance the company's sustainability.

The Hershey Company (NYSE: HSY) has been honored as a 2024 recipient of The Civic 50, a recognition of the top community-minded companies in the U.S. by Points of Light. Hershey secured the Consumer Staples leader title for the third consecutive year and received the Volunteer Leader Award for its exceptional volunteer culture and civic engagement.

In 2023, Hershey employees volunteered nearly 130,000 hours and raised over $1.6 million in matched giving. The company's community support spans education, workforce development, inclusive economic growth, and youth programs. The Civic 50 honors corporations with annual U.S. revenues of at least $1 billion, evaluating them on resource investment, volunteerism, business integration, policies, and impact measurement.

Hershey has been featured in The Civic 50 since its inception in 2012.

The KIT KAT® brand has introduced a new -edition flavor, KIT KAT® Pink Lemonade Flavored Bar, launching on May 17, 2024. This new variant combines the classic KIT KAT® wafer with a pink lemonade flavored creme that includes hints of strawberry. Targeting Gen Z and Millennials, the flavor aims to evoke a summer feeling and cater to the 93% of this demographic who prefer Pink Lemonade treats. Available in standard and king sizes, this addition continues KIT KAT's tradition of innovative flavors, joining variants like Chocolate Frosted Donut and Mint + Dark Chocolate.

The Hershey Company (NYSE: HSY) has achieved the number one spot on Fair360's 2024 Top 50 Companies list, unveiled at The Glasshouse in New York City. This list highlights companies excelling in fairness, diversity, and inclusion within their talent strategies and workplace practices. Hershey was particularly recognized for its Pathways framework, a 5-year plan to foster belonging in the workplace and community. The survey, involving 160 employers with 7.3 million U.S. employees, evaluated leadership accountability, human capital diversity, talent programs, workplace practices, supplier diversity, and philanthropy. The Hershey Company's commitment to these areas underscores its priority on inclusive programs supporting career advancement and development for all employees.