GlobalData offers a comprehensive analysis of Hershey, 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 Hershey‘s ESG performance. GlobalData’s company profile on Hershey 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.
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Hershey, a global confectionery company, is committed to reduce its greenhouse gas (GHG) emissions. Hershey has specific goals related to scope 1, scope 2, and scope 3 emissions. Scope 1 emissions refer to direct emissions from owned or controlled sources, scope 2 emissions refer to indirect emissions from the generation of purchased electricity, heat, or steam, and scope 3 emissions refer to all other indirect emissions that occur in the value chain of the company. According to the ESG report, in 2022 the company's total greenhouse gas emissions, direct (Scope 1) emissions was 179,211 MTCO2e, Indirect (Scope 2) market-based emissions was 68,639 MTCO2e & Indirect (Scope 2) location-based emissions was 232,579 MTCO2e and value chain (Scope 3) emissions was 5,941,676 MTCO2e. Whereas emission intensity for direct (Scope 1) was 0.160 MTCO2e per Metric ton of product produced, indirect (Scope 2) market-based was 0.061 MTCO2e per Metric ton of product produced and value chain (Scope 3) was 4.638 MTCO2e per Metric ton of product produced.
The company has taken steps to reduce its emissions, these steps include investing in renewable energy, improving energy efficiency, and implementing LED lighting. The company also focuses on waste management, aiming to responsibly manage and dispose of hazardous and non-hazardous waste. It promotes plastic reduction, circular systems, and recycling within the supply chain. Hershey also emphasizes responsible marketing and labeling, providing customers with transparent access to information about the environmental and social impacts of its products. The company has established ambitious, science-based goals for reducing greenhouse gas (GHG) emissions. The targets include a 50% reduction in absolute Scope 1 and Scope 2 (market-based) emissions, along with a 25% reduction in absolute Scope 3 emissions by 2030, measured against a 2018 baseline.
In terms of packaging and end-of-life, Hershey aims to minimize the use of packaging and single-use plastics. It focuses on reducing unnecessary packaging and implementing reusable and recycled materials for customer and consumer-facing packaging. The company also considers human rights throughout its supply chain, ensuring the fundamental human rights of all external stakeholders are upheld and respected. By the year 2030, the goal is to ensure that all plastic packaging is either recyclable, reusable, or compostable, and to eliminate 25 million pounds of packaging.
Overall, Hershey is committed to reducing its carbon footprint and taking action to mitigate climate-related risks. The company's efforts in renewable energy, waste management, responsible marketing, packaging, and human rights demonstrate its commitment to sustainability and environmental responsibility.
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