June, 2018 Sustainability Network Grows
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...
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 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.
2016: Companies Monitor Carbon Usage
According to a report by CDP, a nonprofit group that monitors carbon disclosures for companies, 437 companies – including Microsoft, Disney and Shell, charge each of their business units an internal tax based on their energy usage. The cost is based on a price for carbon. The money is collected and put into a fund that pays for a range of sustainability projects.
Businesses do what’s in the interest of business,” said Paula DiPerna, a special adviser to CDP who worked on the report. “If this many companies are pricing carbon internally, they know that climate change is a business risk.”
Real carbon taxes — and not just voluntary efforts — may not become commonplace anytime soon. Yet more big companies and their investors appear likely to decide that internal carbon pricing makes sense economically and ethically.
2015 $140 Billion Pledged to cut Carbon Emissions
In 2015 more than a dozen U.S. companies – including Alcoa, General Motors, Google, Apple and the Bank of America, pledged to invest more than $140 billion in efforts to cut carbon emissions as part of the Obama administration initiative leading up to the United Nations climate-change summit later that year. Although the Trump administration has withdrawn from the Paris Agreement, forward thinking companies continue to support the pledge to cut carbon emissions.
While none of the initial companies produce fossil fuels, all are energy-consuming, carbon-intensive companies.
(In 2015, six European oil and natural gas companies – Statoil, Shell, Total, BG, Eni and BP, sent a letter to the UN calling for a price on carbon emissions .)
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