Hormel Foods Corporation named to Barron’s list of the 100 most sustainable U.S. companies for 2023
Hormel Foods Corporation, a Fortune 500 global branded food company, was named to Barron’s list of the 100 most sustainable U.S. companies for 2023. The company ranked No. 23 on the prestigious list, which is the sixth ranking by Barron’s of the 1,000 largest publicly traded companies across 200-plus environmental, social and governance (ESG) performance indicators.
As one of the most admired food companies in the world, Hormel Foods, through its award-winning Our Food JourneyTM efforts, is committed to producing food responsibly for customers and consumers by investing in its people and partners, improving communities and the world, and creating products that enrich the lives of people.
In 2022, Hormel Foods supported food-security programs and disaster-relief efforts with partners such as World Central Kitchen, Feeding America, Conscious Alliance and Convoy of Hope. In addition, the company supported equity in education and continued its groundbreaking Inspired Pathways program that provides a free two-year-college education to the dependent children of its team members.
Additionally, Hormel Foods has a set of corporate responsibility goals that it will strive to achieve by 2030, named its 20 By 30 Challenge which includes initiatives surrounding climate leadership, including matching 100% of the company’s energy with renewable sourcing and the establishment of science-based targets for reduction of greenhouse gas emissions. The goals also include efforts focused on regenerative and sustainable agriculture, packaging sustainability, water stewardship, food security and human rights. More information on the Hormel Foods global impact and sustainability efforts can be found at https://www.hormelfoods.com/responsibility/.
To build its sustainable companies list, Barron’s worked with Calvert, a leader in ESG investing. Starting with the 1,000 largest publicly traded companies by market value, Calvert ranked each one by how it performed in five key constituencies: shareholders, employees, customers, community and the planet. Specifically, Calvert looked at more than 230 ESG performance indicators from seven rating companies, including ISS, MSCI and Sustainalytics, along with using other data and Calvert’s internal research.