Del Monte Foods, Inc. announced 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.
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: 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, and diverting more than 25 million pounds of food from landfills over the the past two years through a focus on upcycling and food donations.
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.
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.
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.
