LONDON (dpa-AFX) - U.K.-based Premier Foods plc (PFD) that manufactures and distributes branded and own label food products, on Friday announced a new ESG strategy 'Enriching Life Plan' focusing on three key pillars of Product, Planet and People. The ESG strategy, is inspired by new company purpose, 'Enriching Life Through Food'.
The targets as set out are for 2030 against a 2020 baseline. The Product strategy envisages more than doubling the sales of products that meet high nutrition standards by 2030, targeting sales of 250 million pounds from plant-based products by 2030 as well as eliminating unnecessary packaging. The Planet strategy focusses on reduction of Scope 1 and 2 carbon emissions by 42 percent by 2030, achieving Net Zero for direct emissions by 2040, introduction of Science Based Targets aligned to the 'Business Ambition for 1.5 as well as halving food waste by 2030.
The group also commits to work to establish supply chain carbon reduction programmes through its supplier base and work with its partners to develop a decarbonisation plan for its logistics and distribution operations. The People strategy aims at gender balance for senior management population by 2030, donation of 1 million meals to those in food poverty per annum by 2030.
The Group also reiterated commitment to working towards incorporating the recommendations of the Task Force on Climate-Related Financial Disclosures (TCFD) and making necessary disclosures in the 2022 Annual Report onwards.
Copyright RTT News/dpa-AFX