Energy Efficiency, GHG Emissions, Sourcing Renewables - March 2, 2021
Hershey sets goals to reduce environmental footprint by 2030
The Hershey Company announced new commitments on March 1 to advance its environmental progress and contribute to global climate action. The company plans to reduce its absolute Scope 1 and Scope 2 emissions by more than 50% and its absolute Scope 3 emissions by 25% by 2030, compared to a 2018 baseline.
In 2019, Hershey committed to the Science Based Targets initiative that it would audit its operations and develop targets to reduce its greenhouse gas emissions in line with the best available climate science. Hershey will reduce its global emissions in line with the global best practice of the Paris Climate Agreement, to limit global temperature rise to 1.5°C. Hershey will deploy a comprehensive, global approach to reduce emissions through targeted investments in energy efficiency, renewable energy, packaging innovations as well as sustainable land-use policies.
"Climate change is one of the most urgent threats to our planet that we face today. In order to deliver on our purpose to make more moments of goodness, we must operate with sustainability at the forefront and commit to doing our part to address climate change," Michele Buck, The Hershey Company President and Chief Executive Officer, said in a statement. "We will continue to use our scale and apply the full force of our business to reduce our greenhouse emissions and drive climate action forward."
Renewable energy investments and energy efficiency projects will be a primary focus for Hershey to reach its Scope 1 and Scope 2 commitment. The company has signed two power purchase agreements that will enable the construction of two new utility-scale solar farms. Additional energy efficiency projects are being pursued around the world, and the company will continue on its path towards an increasing reliance on clean and renewable energy across all operations. These efforts, along with others, are expected to reduce Hershey's Scope 1 and Scope 2 greenhouse gas emissions by more than 40% by 2024.
Edison Energy has partnered with Hershey on a package of clean energy initiatives. "Famous for its chocolate, Hershey deserves to be known as an environmental champion as well," said Oded J. Rhone, CEO, Edison Energy. "Hershey has followed the science, set ambitious goals to cut its carbon footprint, and is helping finance major new solar farms on two power grids with its clean energy purchases. This is what corporate stewardship looks like."