Verification Reinforces McCormick's Commitment
to Achieving a Sustainable Future Through Energy Efficiency,
Sustainable Agriculture, and Value Chain Engagement
HUNT
VALLEY, Md., Dec. 11,
2023 /PRNewswire/ -- McCormick & Company,
Incorporated (NYSE: MKC), a global leader in flavor, is one of
several companies leading the journey to net-zero as it announced
today that the Science Based Targets initiative (SBTi) has approved
its net-zero science-based target by 2050.
"We are proud to have SBTi approve our 2050 net-zero target, but
we also realize this is only the first step in a long journey. We
have always operated with the mindset that creating a sustainable
future is paramount to our continuing work to deliver
industry-leading financial performance while doing what's right for
people, communities, and the planet we share," said
Michael Okoroafor, Chief
Sustainability Officer for McCormick & Company. "Through
Purpose-led Performance, our work to increase energy efficiency,
create opportunities for regenerative agriculture in global farming
communities, and strengthen engagement within our value chain will
help us all achieve this collective global goal."
In 2022, the Company also had its near-term emission reduction
targets approved by SBTi, a 42% absolute reduction across Scopes 1,
2, and 3 by 2030. To address Scope 3 emissions, which make up the
largest proportion of the Company's carbon footprint, McCormick is
a cofounding member of the Supplier Leadership on Climate
Transition (S-LOCT), a collaboration of more than 20 brands to
support suppliers in reducing emissions.
McCormick will deliver across the following areas to achieve
full decarbonization:
- Driving energy efficiencies through investment in green
buildings, upgrading to high-efficiency equipment and electrifying
operations, among others.
- Transitioning to renewable energy in our global
operations.
- Reducing greenhouse gas emissions from waste through
waste recovery and recycling.
- Strengthening value chain engagement through
industry-wide collaborations to support suppliers and customers in
reducing their emissions.
- Implementing regenerative agriculture initiatives which
train smallholder farmers on soil health and climate-smart
agriculture techniques.
- Reducing our carbon footprint from packaging by
supporting a circular plastics economy and reducing our use of
virgin plastic.
- Utilizing nature-based solutions for the small
percentage of emissions which we are unable to eliminate, in line
with SBTi guidelines.
While McCormick has set an ambitious net-zero agenda, the
Company continues to actively explore partnerships within its
supply chain to scale solutions and has called upon other
organizations to join them.
"Because over 95% of McCormick's carbon footprint is from Scope
3 emissions, we realize that collaborating across the industry to
share best practices and inviting other partners to join in on the
journey to net-zero will help us achieve much more than we ever
could alone," said Okoroafor. "If we accomplish our goals alone,
we've failed, because this journey isn't just about us – it's about
the global community. Through upstream value chain initiatives and
purposeful engagement, we are working with our partners to support
the industry's decarbonization."
To learn more about our science-based net-zero target, please
visit the Net-Zero section of our Corporate website.
About McCormick
McCormick & Company, Incorporated is a global leader in
flavor. With over $6 billion in
annual sales across 170 countries and territories, we manufacture,
market and distribute spices, seasoning mixes, condiments and other
flavorful products to the entire food industry including e-commerce
channels, grocery, food manufacturers and foodservice businesses.
Our most popular brands with trademark registrations include
McCormick, French's, Frank's RedHot, Stubb's, OLD BAY, Lawry's,
Zatarain's, Ducros, Vahiné, Cholula, Schwartz, Kamis, DaQiao, Club
House, Aeroplane and Gourmet Garden. Every day, no matter where or
what you eat or drink, you can enjoy food flavored by
McCormick.
Founded in 1889 and headquartered in Hunt Valley, Maryland USA, McCormick is guided
by our principles and committed to our Purpose – To Stand Together
for the Future of Flavor. McCormick envisions A World United by
Flavor where healthy, sustainable and delicious go hand in hand. To
learn more, visit www.mccormickcorporation.com or follow McCormick
& Company on Instagram and LinkedIn.
For information contact:
Global Communications:
Lori Robinson –
lori_robinson@mccormick.com
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SOURCE McCormick & Company, Incorporated