GlobalData offers a comprehensive analysis of Campbell, providing key insights into its Environmental, Social, and Governance(ESG) factors. By closely monitoring and aggregating mentions of climate change and associated ESG keywords, GlobalData delivers valuable information on Campbell’s ESG performance. GlobalData’s company profile on Campbell offers a 360-degree view of the company, SWOT analysis, key financials, and business strategy including insights on ESG implementation among other information. Buy the report here.
Campbell has set a target to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 42% by FY2030 from a FY2020 base year and reduce absolute Scope 3 GHG emissions from purchased goods and services and upstream transportation and distribution by 25% within the same time frame. The company aims to source 50% (by volume) of each plant-based priority ingredient from suppliers engaged in an approved sustainable agriculture program by FY2025. Campbell also plans to reduce water use by 20% on an absolute basis by FY2025, reduce the amount of waste sent to landfills by 25%, and reduce food waste by 50% on an absolute basis by FY2030. The company aims to transition 100% of packaging to recyclable or industrially compostable designs and materials by CY2030 and increase the use of post-consumer recycled content. Campbell's latest filings mentioned the keywords 'Emissions' and 'Recycled' most number of times in relation to 'Climate Change'.
Campbell has made progress in reducing its carbon emissions, with a 2% reduction in Scope 1 and 2 emissions and a 0.5% reduction in Scope 3 emissions. The company has also achieved a 96% transition of packaging to recyclable or industrially compostable designs and materials and a 70% increase in the use of post-consumer recycled content in aluminum, 38% in corrugate, 35% in glass, and 35% in steel. The company aims to drive increases in recycling rates through standardized on-pack labeling by including the How2Recycle label on 100% of packaging by CY2022.
To achieve its net-zero targets, Campbell plans to expand access to recycling and advance the development of collection and recycling infrastructure by building and investing in partnerships with peers and industry groups, academia, agriculture, packaging, and climate. The company also plans to source 100% cage-free eggs by the end of CY2025, source 100% gestation crate-free pork by the end of CY2022, and advance the welfare of broiler chickens in partnership with its suppliers.
The company also plans to responsibly source 100% of priority raw materials by FY2025 and increase spend with diverse suppliers by 25% by FY2023. In 2022, the company reported its Scope 1 emissions at 461,968 mtCO₂e, Scope 2 emissions (location based) at 215,014 mtCO₂e, Scope 2 emissions (market based) at 210,093 mtCO₂e, and Scope 3 emissions at 6,339,405 mtCO₂e.
In conclusion, Campbell has made progress in reducing its carbon emissions, transitioning to recyclable or industrially compostable packaging, and increasing the use of post-consumer recycled content. The company has also outlined steps it plans to take to achieve to achieve its GHG emissions reduction goal and navigate energy transitions, including expanding access to recycling, sourcing cage-free eggs and gestation crate-free pork, and increasing food access and nutrition education in Campbell communities.