The Hershey Company (NYSE: HSY):
Hershey publishes third CSR report showing how it accomplished 60% of its long-range CSR goals. (Photo: Business Wire)
- Company completes 60 percent of its long-range CSR goals; sets new environmental sustainability targets
- Company unveils its ‘Shared Goodness’ CSR strategy and framework
The Hershey Company (NYSE: HSY) today issued its third Corporate Social Responsibility (CSR) report, highlighting how the company has delivered substantial progress against its wide-ranging CSR goals. From environmental sustainability to ethical sourcing, the company achieved many of its CSR goals years early. As a result, the company has set several new environmental targets in its third report. The company also announced its updated CSR framework to guide its CSR efforts in the future.
The report outlines how the company completed 60 percent of its published goals and discusses its progress against the remaining 40 percent, which are on track to be completed on time. Recent achievements include surpassing four environmental targets early and exceeding its year-one cocoa certification goal.
“Since our original goals were set, we have learned a lot about where we could make a difference and what would make the most impact where it matters,” said John P. Bilbrey, President and CEO, The Hershey Company. “Our CSR strategies have evolved, and the updated framework we share in this report reflects how our company values guide the way we work, and how our CSR efforts have matured, become more focused and better aligned with our business.”As a result of the substantial progress made against our environmental priorities, the company has established new 2017 goals with 2013 as the baseline. Reducing the company’s environmental impact will play an important role in the company’s ability to achieve $10 billion in annual revenue by 2017. Hershey’s new environmental targets to be completed are:
- Reducing greenhouse gas emissions by an additional 10 percent
- Attaining zero-waste-to-landfill status at an additional two plants
- Attaining a recycling rate of 90 percent
- Reducing waste by an additional five percent
- Reducing emissions by an additional 15 percent
- Reducing absolute water use an additional 17 percent
- Competing a minimum of 25 packaging sustainability initiatives, resulting in the cumulative elimination of 16 million pounds of packaging material