Del Monte Foods Announces Commitment to Net-Zero Emissions Goal

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Apr 06, 2022, 09:00 ET

Plant-Based Foods Leader Aligns with Science Based Targets Initiative (SBTi) to Set Measurable Actions for Achieving Net-Zero by 2050

WALNUT CREEK, Calif., April 6, 2022 /PRNewswire/ -- Del Monte Foods, Inc. announced today its commitment to achieve net-zero emissions by 2050 in line with the Science Based Targets Initiative's (SBTi) Net-Zero Standard. To achieve this goal, the company has also committed to define near-term science-based targets to reduce Scopes 1, 2 and 3 carbon emissions that support SBTi's focus on limiting global temperature rise to 1.5°C.

As Growers of Good, Del Monte Foods is committed to setting aggressive and measurable climate goals for a healthier planet.

Aligning with SBTi gives the company a clearly defined and measurable path to not only achieve its long-term goal of net-zero emissions by 2050, but also drive near-term and consistent progress for reducing emissions across its supply chain. Science-based targets provide companies with an established approach, including 2030 milestone goals, to reduce emissions that also support the Paris Agreement.

"As Growers of Good, creating a healthy and more hopeful tomorrow has been at the core of Del Monte Foods' purpose for over 130 years," said Greg Longstreet, President and CEO of Del Monte Foods. "Committing to a net-zero emissions goal, aligned with SBTi, extends our environmental sustainability commitments and gives us aggressive and measurable milestones to reach as we strive to nourish the planet, people and communities for many generations to come."

To achieve its net-zero goal, Del Monte Foods plans to reduce or eliminate the majority of its existing emissions rather than purchase external carbon credits to offset emissions. This approach is also aligned with SBTi's requirement that registered companies reduce at least 90% of baseline emissions, minimizing the use of carbon credits.

Del Monte Foods has already made important strides on its path to decarbonization, including:

Streamlining its operations footprint to maximize output and eliminate unnecessary emissions from facilities operating at less than full capacity.
Doubling its capital investment in production operations over the past three years to add automation and other technologies for improved efficiency and reduced waste.
Investing in renewable energy, including installing a 3MW solar array at its Hanford, CA facility, one of the company's largest sites.
Increasing the use of rail by 20% over the past year, while optimizing truck transportation by increasing average truck miles per gallon by 14.3%.
Reducing food waste, including diverting more than 25 million pounds of food from landfills over the past two years through a focus on upcycling and food donations. An upcycling leader, Del Monte Foods' Blue Lake^® Petite Cut and Blue Lake^® Farmhouse Cut Green Beans products were the industry's first canned vegetable product to be Upcycled Certified by the Upcycled Food Association, the world's only third-party certification program for upcycled food ingredients and products.

As it strives for net-zero emissions, Del Monte Foods will continue to invest in key areas to aggressively reduce carbon emissions in both direct and indirect operations, including renewable energy, automation technology, transportation efficiency, earth-friendly packaging innovation, and regenerative agricultural practices in partnership with its network of U.S.-based, multi-generational growers.

"It's exciting to be aligned with the most aggressive path to net-zero," said Molly Laverty, Environmental, Social and Governance (ESG) Senior Manager at Del Monte Foods. "The food industry has an important role to play in reducing greenhouse gas emissions, and Del Monte Foods is committed to doing all we can to accelerate progress."

Now that Del Monte Foods has registered its net-zero commitment with SBTi, it will develop specific 2030 emissions reduction targets aligned with SBTi criteria which will be presented to SBTi for official validation. Once validated, Del Monte Foods will publicly announce these targets as well as report company-wide emissions and progress against these targets each year.

Learn more about Del Monte Foods' environmental sustainability commitments and its comprehensive Environmental, Social & Governance focus.

About Del Monte Foods
For more than 130 years, Del Monte Foods, Inc. has been driven by our mission to nourish families with earth's goodness. As the original plant-based food company, we're always innovating to make nutritious and delicious foods more accessible to consumers across our portfolio of beloved brands, including Del Monte®, Contadina®, College Inn®, S&W® and Joyba™. We believe that everyone deserves great tasting food they can feel good about, which is why we grow and produce our products using sustainable and earth-friendly practices for a healthier tomorrow.

Del Monte Foods, Inc. is the U.S. subsidiary of Del Monte Pacific Limited (Bloomberg: DELM SP, DELM PM) and is not affiliated with certain other Del Monte companies around the world, including Fresh Del Monte Produce Inc., Del Monte Canada, or Del Monte Asia Pte. Ltd. For more information about Del Monte Foods and our products, please visit www.delmontefoods.com or www.delmonte.com.

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