Smithfield Foods Unveils Sustainability Achievements and Progress in 22nd Annual Report

News provided by

Apr 15, 2024, 09:00 ET

Sustainability impact report details company's progress toward ambitious goals and targets

SMITHFIELD, Va., April 15, 2024 /PRNewswire/ -- Smithfield Foods released its 22^nd annual sustainability impact report detailing sustainability goal achievements and renewed commitments that continue to drive the production of safe, wholesome and nutritious food responsibly.

"Despite the difficult industry environment our company and industry faced in 2023, Smithfield remained resilient and made significant progress on our sustainability journey," said Stewart Leeth, chief sustainability officer for Smithfield Foods. "We have a clear path forward that builds momentum on our 22-year commitment of being good stewards, doing good work and producing good food."

Highlights of Smithfield's sustainability impact report include:

Good Stewards
Animal care: Smithfield farm operations had an average performance score of 95% for internal audits and 98% on third-party audits in 2023, while its processing facilities' average score was 99.57% on third-party audits.

Creating clean, renewable energy: In 2023, Smithfield completed a $150 million renewable natural gas (RNG) project, the largest of its kind, installing manure-to-energy technology on nearly all company-owned hog finishing farms in Missouri. The company is on track to achieve its target to install biogas systems on 90% of finishing farms for U.S. company and contract locations by 2030.

Reducing emissions: By using alternative feed ingredients, Smithfield reduced greenhouse gas emissions associated with feed by more than 100,000 tons from a 2010 baseline.

Reducing landfill waste: Smithfield reduced its production-weighted solid waste to landfills by approximately 60% compared with a 2010 baseline. Through its bakery upcycling program, the company produced 3,500 tons of bakery meal per week, diverting more than 179,000 tons of food waste from landfills in 2023 and more than 1.1 billion pounds since January 2021.

Reducing food loss and waste: Smithfield participates in USDA's U.S. Food Loss and Waste 2030 Champions initiative and has reduced food waste at its distribution centers by 30% through improvements to inventory management and product handling.

Good Work
Giving back: Smithfield donated more than 30 million protein servings to food banks, disaster relief efforts and community outreach programs, made nearly $37 million in cash and in-kind contributions and awarded more than $969,000 in need-based educational scholarships globally.

Diversity, culture and engagement: In 2023, Smithfield's production facility spending with minority-owned businesses topped $83 million.

Supporting farmers: All of Smithfield's U.S. company-owned sow farms were converted to group housing several years ago, and the company supports contract farmers interested in converting their facilities to group housing. Currently 42% of U.S. contract farmers are operating group housing systems. The company's agronomics program, SmithfieldGro, helps farmers in its supply chain reduce crop inputs and improve crop yields by investing in carbon reduction and conservation methods.

Worker safety: Smithfield achieved safety incident rates below industry averages again in 2023.

Good Food
Food safety: Smithfield's U.S. facilities had zero product recalls in 2023.

Health and wellness: Smithfield remains on track to increase transparency of food nutrition through cleaner labels and is committed to reducing added sugars and sodium by 10% across its entire U.S. product line by 2025.

Smithfield was the first major protein company to adopt and publicly report sustainability efforts, beginning with its first sustainability impact report in 2001. The company's sustainability program is guided by the Global Reporting Initiative (GRI) Standards, the IFRS Foundation's SASB Standards (SASB) and the UN's Sustainable Development Goals, and is grounded in seven pillars organized according to its principles for doing good.

Smithfield's 2023 sustainability impact report is available at smithfieldfoods.com/2023sustainabilityreport. To view Smithfield's previous 21 annual sustainability impact reports, please visit smithfieldfoods.com/sustainability/resource-center/archive/.

About Smithfield Foods, Inc.
Headquartered in Smithfield, Virginia, since 1936, Smithfield Foods, Inc. is a U.S. food company that employs more than 54,000 people in seven countries and partners with thousands of American farmers. As one of the world's leading vertically integrated protein companies, we are dedicated to producing "Good food. Responsibly.^®" to feed a growing world population. We have pioneered sustainability standards for more than two decades, including our industry-leading commitments to become carbon negative in our U.S. company-owned operations and reduce GHG emissions 30% across our entire U.S. value chain by 2030. We believe in the power of protein to end food insecurity and have donated hundreds of millions of food servings to food banks, disaster relief efforts and community outreach programs in all 50 U.S. states. Smithfield boasts a portfolio of high-quality iconic brands, such as Smithfield^®, Eckrich^®, Gwaltney^® and Nathan's Famous^®, among many others. For more information, visit www.smithfieldfoods.com and connect with us on Facebook, X, formerly known as Twitter, LinkedIn, Instagram and Threads.