Hershey Releases 2023 ESG Report

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KnowESG_Hershey Releases 2023 ESG Report
Image courtesy of The Hershey Company

Hershey Company unveiled its 2023 Environmental, Social, and Governance (ESG) Report, highlighting advancements in its sustainability efforts and social impact initiatives.

Focus on Sustainability

The report details Hershey's "Cocoa For Good" strategy, a $500 million investment aimed at creating a more sustainable cocoa supply chain that benefits farmers and their communities.

Key achievements include

  • Supporting Farmers: The Hershey Income Accelerator Programme (HIAP) launched in 2023, providing cash transfers to over 1,850 cocoa farmers who adopt sustainable practices.

  • Investing in Children: Hershey partnered with the National Oversight Committee (CNS) and the International Cocoa Initiative (ICI) to fund the construction of 12 schools in cocoa-producing regions. The first school opened in December 2023.

  • Human Rights Framework: Hershey established a new "Human Rights Impact Pathway" framework to guide future programmes and address complex human rights issues.

Combating Climate Change and Reducing Waste

The report outlines Hershey's efforts to minimise environmental impact:

  • Reduced Emissions: The company achieved a 43% reduction in greenhouse gas emissions since 2018 and remains on track for a 50% reduction by 2030.

  • Packaging Efficiency: Hershey eliminated over 1.7 million pounds of packaging material in 2023 through various redesign and reduction initiatives.

  • Deforestation Commitment: Recognising the urgency of climate action, Hershey accelerated its deforestation-free commitment to 2025, five years ahead of schedule.

  • Water Conservation: Overall water use across facilities decreased by 20% since 2022, with a 46% reduction at headquarters.

Building a Strong Workforce

Hershey prioritises building a positive and inclusive work environment:

  • Leadership Development: The LSP Leader Accelerator programme was launched to strengthen talent development within the company.

  • Pay Transparency: The company implemented procedures for transparent salary communication, including benchmarks and earning potential information.

  • Veteran Recruitment: Hershey exceeded their target for veteran recruitment, expanding diversity within the workforce.

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Source: Hershey

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