Mr. Kipling maker Premier Foods has laid out a new ESG strategy, outlining a series of major sustainability commitments, including the goal to achieve net-zero for direct emissions by 2040.
The company's new ESG strategy, entitled 'Enriching Life Plan', is built on three pillars – product, planet and people.
Chief executive officer, Alex Whitehouse, said, "Over the last few years, we have made some very good progress against our previous ESG strategy and we are proud of the achievements that we have made so far.
"We have evolved rapidly as a business over the last eighteen months and we now have ambitions which are much bigger and bolder.[…]We firmly believe that we should take responsibility for helping to support a healthier planet, for delivering new product options to help consumers eat more healthily, and in caring for our colleagues and communities."
The Three Pillars
In the area of product, the company aims to double the sales of products that meet high nutrition standards by 2030.
It also aims to generate sales worth £250 million from plant-based products.
Whitehouse added, "We will leverage our proven branded growth model and insight-driven innovation capabilities to develop and provide consumers with an increasing number of healthy options, including a series of plant-based products such as Sharwood's Vegan cooking sauces and Mr. Kipling 30% less sugar cake slices."
In addition to the net-zero target, the company aims to reduce Scope 1 and 2 carbon emissions by 42% by 2030.
Premier Foods will also introduce Science Based Targets aligned to the 'Business Ambition for 1.5' and cut food waste by half by 2030.
The company will implement measures to ensure gender balance in senior management roles by 2030
It aims to donate 1 million meals per annum to those in food poverty by 2030.
The company also aims to make its supply chain free from deforestation by 2030.
The producer of Oxo, Saxa, and Bisto, reported a 6.3% growth in sales over a two-year basis in the first three months of its financial year 2021.