Whole Earth Brands Announces Global Strategic ESG Goals for 2030
CHICAGO, June 21, 2022 (GLOBE NEWSWIRE) -- Whole Earth Brands, Inc. (Nasdaq: FREE), a global food company enabling healthier lifestyles through premium plant-based sweeteners, flavor enhancers and other foods, today announced 12 strategic, measurable goals that will guide the company’s environmental, social, and governance (ESG) framework through the year 2030.
Centered on three pillars – producing sustainably, supporting thriving workers and communities, and enabling healthier lifestyles – the Whole Earth Brands ESG framework seeks to create a positive impact on a number of material topics related to the sourcing, production, and use of our products, including climate, packaging, natural resources, livelihoods, diversity and inclusion. The goals include a 25% absolute reduction in Scope 1 & 2 emissions in owned facilities from the company’s 2021 baseline, as well as packaging all products in reusable, recyclable or compostable materials, and a commitment to verified responsible sourcing of key ingredients across our global supply chain.
“As we have stated for some time now, the Whole Earth Brands ESG vision is to bring goodness to people and to the planet, and we believe these 12 goals set clear, tangible targets that deliver on this commitment in a defined and attainable timeline,” said Albert Manzone, Chief Executive Officer of Whole Earth Brands. “Strong ESG governance underlies all three of our pillars and is fundamental to our overall framework. These 2030 goals make Whole Earth Brands a better company today and provide us a roadmap for how to become a stronger one tomorrow.”
The 12 measurable 2030 goals, and the areas in which they most directly affect, are:
|1. 25% absolute reduction in Scope 1 and 2 emissions in owned facilities (2021 baseline)
|2. Set a Scope 3 emissions reduction target (by 2025)
|3. 100% packaging is reusable, recyclable, or compostable
|4. 100% of fiber-based packaging is deforestation-free
|• Waste and Water
|5. 50% improvement in waste diversion at owned manufacturing facilities (2021 baseline)
|6. Support water use efficiency at owned manufacturing and contracted facilities
|• Responsible Sourcing
|7. At least 95% of sugar and natural sweeteners (by revenue) sold in NA & Europe are certified responsibly sourced
|8. 100% of key manufacturing partners meet third party standards for ethical labor, health and safety, environmental and business practices
|• Diversity, Equity and Inclusion
|9. Philanthropic contributions focus support on:
|a. Local communities
|b. Equity and inclusion, and/or
|c. Economically disadvantaged populations
|10. Adopt best practices that advance corporate diversity and inclusion across our business
|• Innovation and Transparency
|11. Ensure that as the product portfolio grows, at least 75% (by gross revenue) continues to come from naturally derived ingredients
|• Equitable Access
|12. Pilot an approach to meaningfully increase access to products that support healthier lifestyles for economically disadvantaged consumers
“Buoyed by multiple acquisitions in recent years, our company’s portfolio has expanded significantly in many areas, including our geographic footprint and the global consumers we serve,” said Irwin D. Simon, Executive Chairman of Whole Earth Brands. “With such growth comes responsibility, and in our second full year as a public company, Whole Earth Brands is proud to highlight these 12 goals that will help us achieve considerable success for the betterment of our company and employees, the consumers we serve and the environment in the coming decade and beyond.”
Originally announced in February, the three Whole Earth Brands ESG pillars were determined following a formal assessment process that included an outside consultant, internal interviews and external research. Whole Earth Brands will share annual updates highlighting its progress toward each of its goals.
To learn more about the Whole Earth Brands ESG vision and follow along in the company’s ESG journey, please visit wholeearthbrands.com/environmental-social-and-governance.
This press release contains forward-looking statements (including within the meaning of the Private Securities Litigation Reform Act of 1995) concerning Whole Earth Brands, Inc. and its ESG efforts, plans and goals, and reflects Whole Earth Brands’ current beliefs and expectations. There can be no assurance Whole Earth Brands will be successful in reaching the goals. These statements are subject to the risks and uncertainties indicated from time to time in the documents the Company files (or furnishes) with the U.S. Securities and Exchange Commission.
About Whole Earth Brands
Whole Earth Brands is a global food company enabling healthier lifestyles and providing access to premium plant-based sweeteners, flavor enhancers and other foods through our diverse portfolio of trusted brands and delicious products, including Whole Earth Sweetener®, Wholesome®, Swerve®, Pure Via®, Equal® and Canderel®. With food playing a central role in people’s health and wellness, Whole Earth Brands’ innovative product pipeline addresses the growing consumer demand for more dietary options, baking ingredients and taste profiles. Our world-class global distribution network is the largest provider of plant-based sweeteners in more than 100 countries with a vision to expand our portfolio to responsibly meet local preferences. We are committed to helping people enjoy life’s everyday moments and the celebrations that bring us together. For more information on how we “Open a World of Goodness®,” please visit www.WholeEarthBrands.com.
Released June 21, 2022