WH Group, the world's largest pork company, has set a net-zero target for its greenhouse gas (GHG) emissions. WH Group fully supports the Paris Agreement’s initiatives to combat global climate change, delivering carbon emissions reduction across all subsidiaries to achieve the target of zero emission by 2050 inclusive of supply chain, through a combination of technology enhancements, process transformation, and energy mix optimization. The Group conducted a climate change risk assessment and identified opportunities in their value chains, following the TCFD (Task Force on Climate-Related Financial Disclosure) disclosure framework.

WH Group has integrated climate change mitigation into their business strategies and specified commitments to climate, energy, and emissions management in their corporate principles. It has set carbon emission targets, with Smithfield Foods joining the Science Based Target Initiative, and Shuanghui Development formulating a 14th Five-Year Carbon Plan and targeting renewable electricity use, to build resilience and mitigate regulatory impacts related to climate change. WH Group's GHG emissions have increased significantly in 2022, with scope 1 emissions reaching 3,513,674 MT CO2e and scope 2 emissions reaching 2,030,585 MT CO2e. The company's latest filings mentioned the keywords 'Emissions' and 'Climate Change' most number of times in relation to 'Net Zero'.

WH Group has developed four pathways to achieve its goals: promoting the circular economy to realize carbon reduction from farming; forming a diversified energy structure by increasing the proportion of renewable energy; promoting energy efficiency improvements to meet the growth of energy demand; and broadening the scope of carbon reduction actions to lead the low-carbon development of its value chain.

WH Group has set targets for solid waste management in all operating regions who deliver respective progress accordingly. In China, to meet the legal requirements, Shuanghui Development’s operation sites have carved out dedicated storage place for solid waste which is manned with a log system, recording details such as type, volume and receiving party. All solid waste is collected by qualified third party service companies for treatment required by law and regulation. In the U.S., Smithfield implements waste reduction initiatives through external cooperation. It set a goal to achieve zero-waste-to-landfill certification at 75% of the U.S. facilities by 2025.

The company has taken steps to reduce its emissions, including investing in renewable energy and improving energy efficiency. WH Group has invested in renewable energy and improved energy efficiency to reduce its carbon footprint. In 2022, WH Group further increased its investment in clean energy, raised the proportion and use of renewable energy sources, and adopted a variety of renewable energy sources, including solar, wind, and biomass, in place of fossil fuels.

In conclusion, WH Group's net-zero target is an important step towards reducing its impact on the environment. WH Group has established a mechanism for low-carbon technology development and application in major operating locations to lower the cost needed by low-emission technology transformation. Overall, WH Group's efforts to address climate change are a positive development, and the company should continue to prioritize sustainability in its operations.

Premium Insights

From

The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.

GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Company Filings Analytics uses machine learning to uncover key insights and track sentiment across millions of regulatory filings and other corporate disclosures for thousands of companies representing the world’s largest industries. This analysis is combined with crucial details on strategic and investment priorities, innovation strategies, and CXO insights to provide comprehensive company profiles.