McCormick Releases 2021 Purpose-led Performance Progress Report and Announces New Commitments to Address Climate Change
Newly released report details progress made towards important ESG metrics and 2025 goals, while also updating science-based targets to align to 1.5°C and achieve Net Zero by 2050
McCormick & Company, Incorporated (NYSE: MKC), a global leader in flavor, today released its 2021 Purpose-led Performance (PLP) Report, which highlights McCormick’s commitment to delivering top tier financial results while doing what’s right for People, Communities and the Planet. The company continues to successfully advance its sustainability agenda which is making a positive impact on addressing some of the world’s toughest challenges. McCormick was recently named the 14th most sustainable corporation in the world and No. 1 in the Food Products sector by the Corporate Knights Global 100 Sustainability Index. The company retained its top position among its food industry peers.
“I am extremely proud of our progress over the past two years. I’d like to thank our 14,000 employees around the world for their focus and dedication to delivering against our PLP goals and driving our business, even during the global pandemic. As a leader in the food and flavor industry, we understand our unique role in driving transformational change. We also understand the urgent need to create a sustainable future for generations to come by addressing climate change.” said Lawrence E. Kurzius, Chairman, President and CEO of McCormick & Company. “We’re excited to announce that McCormick will continue to lead the way with the use of science-based targets to achieve a 1.5°C greenhouse gas emission reduction by 2030 and Net Zero by 2050.”
The newly released 2021 PLP report highlights significant progress on the following 2025 goals:
- Sustainably sourcing McCormick’s five iconic ingredients (Vanilla, Red Pepper, Black Pepper, Cinnamon and Oregano)
- Reducing scope 1 and 2 greenhouse gas emissions from facilities around the world
- Improving the livelihoods of smallholder farmers that grow the company’s key iconic herbs and spices
- Supporting women’s empowerment by reducing gender inequality in farming communities
- Increasing the representation of women globally and U.S. ethnically diverse talent in leadership positions
- Driving better health outcomes with increased public awareness of the health benefits of using herbs and spices
This 2021 PLP report also provides increased reporting against material ESG metrics including enhanced transparency regarding “Social” impact. The cornerstone of this effort includes McCormick’s new Global Human Rights policy which ensures equitable and safe labor practices across the company’s global supply chain. Additional information regarding McCormick’s support for communities, charitable organizations, and social justice initiatives is also included.
The company announced new targets for reducing greenhouse gas emissions and water use, as well as improving recycled and solid waste recovery from its facilities. “McCormick’s commitment to operating sustainably beyond 2025 is also a top priority. We are underway on our journey to achieving our 1.5°C greenhouse gas emission reduction by 2030 and Net Zero by 2050 targets.” said Michael Okoroafor, Chief Sustainability Officer for McCormick. With 84% of the company’s plastic packaging capable of being reused, recycled, or repurposed, McCormick will continue to remain at the forefront of the industry. The company also has plans to further expand its global employee learning and development, health and wellbeing, and giving and volunteer programs to achieve its 2025 goals.