Hormel

Hormel Foods Corporation, a US-based food products nec company, is committed to reducing its greenhouse gas emissions.

For 2024, Hormel reported Scope 1 and 2 emissions of approximately 922.9 million kg CO2e (market-based). In 2023, their Scope 1 and 2 market-based emissions were approximately 669.5 million kg CO2e. Their Scope 1 and 2 emissions for 2022 were approximately 657.9 million kg CO2e (market-based), with location-based emissions at approximately 1.1 billion kg CO2e. In 2021, their Scope 1 and 2 location-based emissions totalled approximately 1.2 billion kg CO2e, and in 2020, they were approximately 730.7 million kg CO2e (Scope 1 and 2 location-based). For 2019, Scope 1 emissions were approximately 793.2 million kg CO2e and Scope 2 market-based emissions were approximately 238.3 million kg CO2e. Scope 3 emissions for 2019 were substantial, with purchased goods and services accounting for approximately 9.1 billion kg CO2e and use of sold products at approximately 1.4 billion kg CO2e.

Hormel Foods has set ambitious climate targets aligned with the Science Based Targets initiative (SBTi). They commit to a 50% absolute reduction in Scope 1 and 2 greenhouse gas emissions by 2030, using 2019 as their base year. Additionally, they aim for a 27.5% absolute reduction in Scope 3 greenhouse gas emissions within the same timeframe. These targets covering company operations (Scopes 1 and 2) are consistent with reductions required to keep warming to 1.5°C.

Previously, Hormel had established interim targets for a 1% per year absolute reduction in GHG emissions and a 1% per year efficiency target, which were set for the period between 2020 and 2021.