TreeHouse Foods Announces 2024 Environmental, Social & Governance Report
Rhea-AI Summary
TreeHouse Foods (NYSE: THS) has released its 2024 Environmental, Social & Governance (ESG) Report, highlighting progress made in 2023 towards its 2030 ESG Goals. As a leading private brands snacking and beverage manufacturer in North America, TreeHouse Foods has integrated ESG work throughout its value chain. Key achievements include:
- Reduced Scope 1 & 2 greenhouse gas emissions by 4.4%
- Reduced Food Loss & Waste by 16.2%
- Reduced water withdrawn in manufacturing operations by nearly 17%
- Increased employee engagement and expanded Employee Resource Group membership by 23%
- Increased use of RSPO-certified palm oil by 5%
- Increased use of post-consumer recycled content by 8%
The company also conducted a prioritization assessment to align its ESG strategy with stakeholder priorities and distributed a Responsible Supplier Survey to strategic suppliers.
Positive
- Reduced Scope 1 & 2 greenhouse gas emissions by 4.4%
- Reduced Food Loss & Waste by 16.2%
- Reduced water withdrawn in manufacturing operations by nearly 17%
- Improved employee engagement survey results by two points year-over-year
- Expanded Employee Resource Group membership by 23%
- Increased use of RSPO-certified palm oil by 5%
- Increased use of post-consumer recycled content by 8%
Negative
- None.
News Market Reaction
On the day this news was published, THS declined 2.31%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
As a leading private brands snacking and beverage manufacturer in
"We focused on our ESG strategy in 2023, beginning the year with a prioritization assessment that helped us refine our areas of focus and guide our 2030 ESG Goals and this ESG report," said Steve Oakland, Chairman, CEO and President. "Our progress against our ESG goals has benefited more than our environment and our communities – it has also strengthened our strategic partnerships with our customers on similar ESG journeys."
In addition to setting its 2030 ESG Goals, TreeHouse Foods' 2023 ESG highlights include:
Environment & Climate
- Reduced Scope 1 & 2 greenhouse gas emissions by
4.4% - Reduced Food Loss & Waste by
16.2% - Reduced water withdrawn in manufacturing operations by nearly
17%
People & Communities
- Conducted annual employee engagement survey with a two-point year-over-year improvement
- Donated approximately
$12 million - Expanded Employee Resource Group membership by
23% - Rolled out an employee learning platform
Products & Operations
- Conducted a prioritization assessment to ensure the ESG strategy is in line with stakeholder priorities and expectations
- Distributed a Responsible Supplier Survey to strategic suppliers to assess opportunities within the supply chain
- Increased use of Roundtable on Sustainable Palm Oil ("RSPO")-certified palm oil by
5% - Increased use of post-consumer recycled content by
8% - Published a Responsible Sourcing Policy Grievance Mechanism
Environmental and social considerations are deeply engrained in the TreeHouse Foods Management Operating System, which includes principles on food waste reduction, energy efficiency improvements and developing our employees.
The Company continues to prioritize employee engagement and professional development, with a new online learning management system that offers expanded learning opportunities, a concentrated focus on employee health and safety, and further develops an equitable and inclusive culture.
The 2024 TreeHouse Foods ESG Report is aligned to the Sustainability Accounting Standards Board ("SASB") and the Task Force on Climate-Related Financial Disclosures ("TCFD") standards, and the Company additionally anticipates publicly disclosing their responses to the 2023 CDP Survey in September 2024.
To access the 2024 TreeHouse Foods ESG Report and for more information, visit the ESG page on the TreeHouse Foods website at https://www.treehousefoods.com/esg.
ABOUT TREEHOUSE FOODS
TreeHouse Foods, Inc. is a leading private brands snacking and beverage manufacturer in
Additional information, including TreeHouse's most recent statements on Forms 10-Q and 10-K, may be found at TreeHouse Foods' investor relations website.
FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements and other information are based on our beliefs, as well as assumptions made by us, using information currently available. The words "believe," "estimate," "project," "expect," "anticipate," "plan," "intend," "foresee," "should," "would," "could," and similar expressions, as they relate to us, are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or intended. We do not intend to update these forward-looking statements following the date of this press release.
Such forward-looking statements, because they relate to future events, are by their very nature subject to many important factors that could cause actual results to differ materially from those contemplated by the forward-looking statements contained in this press release and other public statements we make. Such factors include, but are not limited to: risks related to quality issues, disruptions, or inefficiencies in our supply chain and/or operations; loss or consolidation of key suppliers; raw material and commodity costs due to inflation; labor strikes or work stoppages; multiemployer pension plans; labor shortages and increased competition for labor; success of our growth, reinvestment, and restructuring programs; our level of indebtedness and related obligations; disruptions in the financial markets; interest rates; changes in foreign currency exchange rates; customer concentration and consolidation; competition; our ability to execute on our business strategy; our ability to continue to make acquisitions and execute on divestitures or effectively manage the growth from acquisitions; impairment of goodwill or long lived assets; changes and developments affecting our industry, including customer preferences and the prevalence of weight loss drugs; the outcome of litigation and regulatory proceedings to which we and/or our customers may be a party; product recalls; changes in laws and regulations applicable to us; shareholder activism; disruptions in or failures of our information technology systems; geopolitical events; changes in weather conditions, climate changes, and natural disasters; and other risks that are set forth in the Risk Factors section, the Legal Proceedings section, the Management's Discussion and Analysis of Financial Condition and Results of Operations section, and other sections of our Annual Report on Form 10-K for the year ended December 31, 2023, and from time to time in our filings with the Securities and Exchange Commission ("SEC"). You are cautioned not to unduly rely on such forward-looking statements, which speak only as of the date made when evaluating the information presented in this press release. TreeHouse expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein, to reflect any change in its expectations with regard thereto, or any other change in events, conditions or circumstances on which any statement is based.
RELATED LINKS
http://www.treehousefoods.com
View original content:https://www.prnewswire.com/news-releases/treehouse-foods-announces-2024-environmental-social--governance-report-302211587.html
SOURCE TreeHouse Foods, Inc.
FAQ
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