Climate Change Data

Environmental Metrics

ESG Focus Areas

• Nourishing Our Consumers
• Nourishing Our Neighbors
• Nourishing Our Employees
• Nourishing Our Planet

Environmental Achievements

• Eliminated more than 3.5 million pounds of steel and 1 million pounds of fiber while saving more than $4.5 million in packaging costs
• Recycled more than 84% of waste generated
• Reduced water use in food production by more than 9%
• Established a set of Sustainable Packaging Principles
• Invested more than $6 million in environmental sustainability projects

Social Achievements

• Achieved a world-class employee engagement ratio of 23:1
• Received the Catalyst award for our work with women in the workplace
• Earned a Platinum Award from The National Business Group on Health
• Exceeded safety benchmarks in the food industry
• Spent $140 million with women and minority-owned businesses
• Provided $1.4 million worldwide in tuition assistance
• Logged 14,000 volunteer hours in the U.S.
• Distributed more than $21 million in product donations globally
• Collected 73.4 million pounds of food during the annual Stamp Out Hunger™ food drive
• Reached more than 1.8 million moms with our Fishful Thinking program
• Awarded $2.5 million worth of equipment to schools through Labels for Education

Governance Achievements

• Published Human Rights, Environmental Sustainability, and Political Accountability policies
• Strengthened bonds with consumers and launched new products
• Introduced Nourishing Our Neighbors, an enhanced community service program
• Announced a five-year, $10 million charitable commitment to Camden, New Jersey
• Relaunched Campbell’s Labels for Education

Climate Goals & Targets

Environmental Challenges

• Growing interest in issues such as healthy weight management, heart health, childhood obesity, and quality of life
• Need for food assistance
• Maintaining and improving world-class levels of employee engagement
• Retaining diverse employees at lower levels of management
• Climate change risks
• Use of bisphenol A (BPA) in food packaging

Mitigation Strategies

• Increasing focus on foods that meet consumers’ increasing needs for nutrition and well-being
• Strategic partnerships to make a more powerful impact
• Team and department action planning to address issues critical to sustaining high engagement
• Active recruiting with associations
• Energy conservation and GHG reduction programs
• Adhering to guidance of the U.S. FDA and complying with packaging requirements of global regulatory agencies
• Monitoring scientific studies on BPA

Supply Chain Management

Supplier Audits: Periodic audits and on-site inspections

Responsible Procurement

• Supply Base Requirements and Expectations Manual

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Energy conservation and GHG reduction

Reporting Standards

Frameworks Used: GRI G3

Certifications: Null

Third-party Assurance: BSR

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Campbell’s Select Harvest soups
• Healthy Request soups
• Lower-sodium products
• Products with whole grains
• Organic products

Awards & Recognition

• World’s Most Ethical Companies List
• 100 Best Corporate Citizens List
• Top 10 CSR Index
• Green Toronto Award
• Australian Packaging Evolution Award
• Catalyst Award

Environmental Metrics

ESG Focus Areas

• Nourishing Our Consumers
• Nourishing Our Neighbors
• Nourishing Our Employees
• Nourishing Our Planet

Environmental Achievements

• Reduced water use by more than 150 million gallons
• Met U.S. EPA Climate Leaders Goal, reducing CO2 emissions/production unit by 12% between 2005 and 2010
• Recycled 83% of all waste generated in production
• Eliminated more than 4.5 million pounds of steel, plastic and paper packaging materials

Social Achievements

• Maintained world-class employee engagement ratio with a rate of 17:1
• Spent $145 million with women and minority-owned businesses
• Exceeded safety benchmarks in the food industry
• Provided $1.1 million worldwide in tuition assistance

Governance Achievements

• Longstanding commitment to excellence in corporate governance
• Board has long been led by an independent, nonexecutive chairman
• Systematic procedures for evaluating the effectiveness of the Board and Board committees

Climate Goals & Targets

Environmental Challenges

• Reducing hunger and childhood obesity
• Cutting the environmental footprint of product portfolio
• Maintaining high employee engagement
• Improving diversity representation and inclusion

Mitigation Strategies

• Established 2020 Destination Goals
• Implemented various programs and initiatives across all four focus areas
• Integrated CSR and sustainability into performance management systems
• Strengthened bonds with consumers and launched new products

Supply Chain Management

Supplier Audits: Periodic audits and on-site inspections to ensure compliance with quality requirements

Responsible Procurement

• Supply Base Requirements and Expectations Manual

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI G3

Certifications: Null

Third-party Assurance: BSR (limited assurance)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Reduced-sodium products, low-fat products, whole-grain products, organic products

Awards & Recognition

• World’s Most Ethical Companies List
• 100 Best Corporate Citizens List
• Dow Jones Sustainability Indexes
• Catalyst Award

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Community Service
• Building an Extraordinary Workplace
• Delivering on the promises of our brands to our customers and consumers
• Sustainable Agriculture
• Responsible Sourcing
• Promotion of human health and sound nutrition
• Childhood Obesity and Hunger

Environmental Achievements

• Reduced energy use by 4% per tonne of food produced (2011 vs. 2010)
• Reduced water use by 5% per tonne of food produced (2011 vs. 2010)
• Reduced greenhouse gas emissions by more than 18,500 tonnes in 2011
• Global recycle rate of >80%
• Installation of 60-acre solar panel project at Napoleon, Ohio facility
• Installation of 12-acre solar panel project under construction in Sacramento, California
• Installation of 250-kW solar panel system in Puurs, Belgium
• Installation of 100-kW solar panel system in Paris, Texas

Social Achievements

• Launched Campbell’s Healthy Camden Initiative with a $10 million, 10-year commitment to reduce childhood obesity and hunger
• Launched the Kids Summer Backpack Program in Norwalk, Connecticut
• Developed Nourish, a nutrient-dense meal in a can for hunger relief in Canada
• Increased employee volunteer hours by 25% (2011 vs. 2010)
• Distributed 220 Dollars for Doers grants totaling $233,500
• Donated more than $40 million worth of product to organizations globally

Governance Achievements

• Implemented Winning With Integrity program to promote ethical standards
• Maintained an independent, non-executive chairman of the Board
• Filed lobbying disclosure reports with appropriate authorities
• Established Political Accountability Guidelines

Climate Goals & Targets

Environmental Challenges

• Childhood obesity and hunger
• Climate change
• Water scarcity
• Sustainable packaging
• Sustainable agriculture
• Consumer concerns over genetically modified ingredients
• Consumer concerns over BPA in can linings
• Managing noncompliance among suppliers

Mitigation Strategies

• Implemented various initiatives to reduce energy, water, and waste
• Invested in renewable energy projects
• Developed sustainable agriculture programs
• Partnered with organizations to address childhood obesity and hunger
• Implemented stringent policies and procedures for managing noncompliance among suppliers
• Researched and implemented BPA alternatives in some products
• Worked to avoid genetically modified ingredients in certain markets

Supply Chain Management

Supplier Audits: More than 1,700 audits conducted over the past two years; >80% of suppliers audited.

Responsible Procurement

• Supply Base Requirements and Expectations Manual
• CSR and sustainability criteria embedded in procurement processes
• Procurement of Fair Trade Certified cocoa and RSPO Certified Sustainable Palm Oil

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products and processes
• Investment in renewable energy

Reporting Standards

Frameworks Used: GRI G3, GRI Food Processing Sector Supplement

Certifications: LEED Silver Certification (Camden Employee Center)

Third-party Assurance: Business for Social Responsibility (BSR)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Light soups
• 100-calorie packs of cookies and crackers
• Whole grain products
• Reduced-sodium products
• Natural and organic products
• Gluten-free products
• Nourish (Canada)

Awards & Recognition

• Named to the 2011/12 Dow Jones Sustainability Indexes
• Ranked second on Corporate Responsibility Magazine’s 100 Best Corporate Citizens List
• Named one of the 50 Most Responsible Corporations in Canada
• Ranked at the top of the 2011 Tomorrow’s Value Rating
• Named to the Maplecroft Climate Innovation Indexes
• Included in the 2011 Newsweek Green Rankings
• Ranked #8 in the CSR Index
• Honored by the IRTS Foundation with its Gold Medal Award
• Ranked third in employee satisfaction among Philadelphia area employers
• Named one of New Jersey’s best places to work
• Received the 2011 Business Recognition Award from the American Association of Occupational Health Nurses
• Received the Gold Award from the National Business Group on Health

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Nourishing Consumers
• Community Service
• Building an Extraordinary Workplace

Environmental Achievements

• Reduced energy use by 21% per tonne of food produced since 2005
• Reduced water use by approximately 20% per tonne of food produced since 2005
• Reduced GHG emissions by 83,000 tonnes in 2012
• 8% of Campbell’s global electric power sourced from renewable energy in FY2012
• 85% global recycle rate for FY2012

Social Achievements

• Total U.S. sales of healthy products exceeded $2.2 billion in FY2012 (30% more than FY2009 sales)
• More than 22,300 employee volunteer hours in FY2012
• Over $142 million in diverse supplier spend in FY2012
• Recordable Case Rate of 2.39 in FY2012 (below industry benchmark of 5.6)
• Launched Campbell Healthy Camden Program with a $10 million, 10-year commitment

Governance Achievements

• Independent, non-executive chairman leads the Board of Directors
• Winning With Integrity program provides resources and training on ethical standards
• Supplier Code of Conduct updated and revised annually

Climate Goals & Targets

Environmental Challenges

• Childhood obesity and hunger
• Reducing environmental footprint
• Maintaining affordability while enhancing product health
• Managing Scope 3 emissions
• Ensuring sustainable palm oil sourcing

Mitigation Strategies

• Campbell Healthy Camden Program
• Renewable energy projects (solar panels)
• Product reformulation to improve nutritional profiles
• Collaboration with MIT on Scope 3 emissions assessment
• Partnership with RSPO for sustainable palm oil

Supply Chain Management

Supplier Audits: More than 2,400 audits in 55 countries

Responsible Procurement

• Supply Base Requirements and Expectations Manual
• Animal welfare policy
• Sustainable palm oil sourcing

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Renewable energy projects

Reporting Standards

Frameworks Used: GRI G3, GRI Food Processing Sector Supplement

Certifications: Null

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Healthy Request soups
• Whole grain Pepperidge Farm products
• V8 juices
• Just Peachy salsa

Awards & Recognition

• Dow Jones Sustainability Index
• CR Magazine’s 100 Best Corporate Citizens
• Civic 50
• Maplecroft Climate CII Benchmark
• Newsweek Green Rankings
• DuPont Awards for Packaging Innovation
• EPA Climate Leader Awards
• PRNews Corporate Social Responsibility Hall of Fame
• Governance and Environmental Management Strength (GEMS) Rating
• NJBIZ’s Best Places to Work
• National Business Group on Health Best Employers for Healthy Lifestyles

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Nutrition and Wellness
• Community Service
• Employee Engagement

Environmental Achievements

• Reduced greenhouse gas emissions by 4.4 percent, or more than 20,800 metric tonnes
• Reduced water consumption by 2.6 percent per tonne of food produced
• Achieved a waste recycling rate of 83.2 percent worldwide
• Cumulative reduction of more than 65 million pounds in packaging over the last five years

Social Achievements

• $10 million, 10-year Campbell Healthy Communities program promoting better nutrition, physical fitness and access to healthier foods for children in Camden, New Jersey
• Acquired Bolthouse Farms and Plum Organics, expanding the portfolio of nutritious products
• More than $50 million in food donations and global giving
• Employees volunteered more than 21,000 hours

Governance Achievements

• Integrated CSR imperatives into executive compensation
• Included important metrics on energy, water, waste, safety and ethics in executive compensation

Climate Goals & Targets

Environmental Challenges

• Water scarcity
• Climate change impacts on agriculture
• Ethical sourcing concerns (palm oil, cocoa, etc.)
• Childhood obesity and hunger

Mitigation Strategies

• Developing more sustainable irrigation practices (drip irrigation)
• Working with suppliers to ensure sustainable sourcing of palm oil (aiming for 100% certified sustainable palm oil by 2015)
• Implementing integrated pest management (IPM)
• Investing in renewable energy projects (solar, wind, anaerobic digesters)
• Campbell Healthy Communities program

Supply Chain Management

Supplier Audits: More than 700 audits per year

Responsible Procurement

• Supply Base Requirements and Expectations Manual
• Supplier Sustainability Scorecard
• Strategic Supplier Relationship Management (SRM) Program

Climate-Related Risks & Opportunities

Physical Risks

• Weather pattern changes impacting agricultural producers

Reporting Standards

Frameworks Used: GRI G3, UN Global Compact

Sustainable Products & Innovation

• Just Peachy salsa
• Plum Organics' Super Smoothie
• Campbell Canada’s Nourish

Awards & Recognition

• Global 100 Most Sustainable Corporations in the World
• Dow Jones Sustainability Indices
• Corporate Responsibility (CR) Magazine’s 100 Best Corporate Citizens
• Civic 50
• DuPont Award for Packaging Innovation
• National Business Group on Health for Promoting Employee Wellness
• Golden Peacock Award for Excellence in Corporate Governance
• Produce for Better Health Role Model
• 2013 CPG Award for Innovation and Creativity
• Vigeo US 50 and Vigeo World 120
• Human Rights Campaign 2014 Corporate Equality Index

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Nourishing Consumers
• Nourishing Neighbors
• Nourishing Employees
• Sustainable Agriculture
• Supply Chain
• Healthier Communities
• Culture and Ethics
• Food Safety and Quality
• Nutrition and Awareness

Environmental Achievements

• Reduced greenhouse gas emissions by 2.4 percent, or more than 17,500 metric tonnes
• Cut water consumption by 10.3 percent, or more than 639 million gallons
• Achieved a waste-recycling rate of 86 percent worldwide
• Reduced water use by 6.1% per tonne of food produced
• Reduced absolute energy use by 2.1%
• Reduced absolute GHG emissions by 2.44 %
• Saved more than 2.9 million pounds of packaging via package redesign and light-weighting

Social Achievements

• Provided more than $70 million in food donations and global giving during the year
• Campbell Soup Foundation distributed more than $1.5 million in grants to nonprofit community service organizations
• Employees volunteered more than 15,000 hours to help our neighbors and communities

Governance Achievements

• The full Board convened six times, the four standing committees met a total of 32 times, and all directors attended at least 92 percent of scheduled Board meetings and the sessions of the committees on which they served

Climate Goals & Targets

Environmental Challenges

• Rising cost of raw materials
• Impacts to climate and deforestation
• Ethical sourcing standards
• Water scarcity
• Childhood obesity and hunger
• NGO concerns about palm oil sourcing
• Concerns over genetically modified ingredients
• Food safety incidents

Mitigation Strategies

• Developed a Procurement Sustainability Strategy focusing on supplier engagement, buyer development, and leadership on supply chain issues
• Developed a worldwide mapping of the supply base to monitor ingredient sourcing and supplier performance
• Implemented preventive control systems such as HACCP
• Developed a comprehensive program to ensure the safety of ingredients and packaging materials
• Working with suppliers to foster more sustainable irrigation practices (drip irrigation)
• Investing in stormwater management projects
• Partnering with suppliers to optimize nutrient management systems
• Working with NGOs to address concerns and take corrective action
• Developing goals to mitigate deforestation
• Developing plans to eliminate gestation crates from its pork supply chain
• Engaging with suppliers that use conflict minerals
• Conducting a supply chain mapping of its seafood category
• Performing an assessment of the agricultural supply chain to measure human rights risks
• Implementing a robust supply chain risk management process

Supply Chain Management

Supplier Audits: More than 700 vendor audits per year

Responsible Procurement

• Supply Base Requirements and Expectations Manual
• Supplier Sustainability Scorecard
• Strategic Supplier Relationship Management (SRM) program
• Focus on ethical sourcing, sustainable agriculture, and reduced environmental impact

Climate-Related Risks & Opportunities

Physical Risks

• Weather pattern changes impacting agricultural producers

Transition Risks

• Not disclosed

Opportunities

• Development of energy-efficient products and processes

Reporting Standards

Frameworks Used: GRI G3 Sustainability Reporting Guidelines, GRI Food Processing Sector Supplement

Certifications: GFSI-recognized standards

Third-party Assurance: Not disclosed

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Just Peachy salsa
• Plum Organics' Super Smoothie
• Campbell Canada’s Nourish

Awards & Recognition

• Global 100 Most Sustainable Corporations in the World
• Dow Jones Sustainability Indices
• CR Magazine’s 100 Best Corporate Citizens
• Best Employers for Healthy Lifestyles
• Produce for Better Health Role Model
• CPG Award for Innovation and Creativity
• Vigeo US 50 and Vigeo World 120
• Human Rights Campaign 2014 Corporate Equality Index

Environmental Metrics

ESG Focus Areas

• Environmental Stewardship
• Engaging with Customers and Consumers
• Community Impact
• Building a High-Performance Workplace

Environmental Achievements

• Reduced absolute GHG emissions by 6.2 percent in FY2015; and reduced GHG emissions on an intensity basis by 23 percent per tonne of food produced since 2008
• Reduced absolute water use by 2.4 percent in FY2015; and reduced water use on an intensity basis by 24 percent per tonne of food produced since 2008
• Increased global waste recycling rate to 84 percent
• Eliminated 316,000 pounds of raw material used for packaging in manufacturing processes in FY2015
• Reduced agricultural water use by 18 percent (gal/lb raw tomato) and produced 12 percent fewer fertilizer-related GHG emissions per ton of tomatoes as compared to 2014

Social Achievements

• Spent more than $171 million with more than 250 women- and minority-owned suppliers
• Launched a new development program, Inclusive Leadership: Discovering Unconscious Bias
• Recorded more than 14,100 employee volunteer hours in the U.S. and awarded $169,500 through more than 100 Dollars for Doers grants to nonprofits
• Donated more than $50 million in food to support organizations

Governance Achievements

• Improved sustainability governance structure by redesigning Sustainability Leadership Team and moving to a Sustainability Leadership Network

Climate Goals & Targets

Environmental Challenges

• Rising cost of raw materials
• Impacts to climate and deforestation
• Brand and reputational damage
• Business disruption
• Regulatory challenges
• Supply chain interruption
• Water scarcity in certain locations

Mitigation Strategies

• Embedded value chain risk mapping as part of purchasing manager’s category strategy
• Collaborated with strategic suppliers on sustainability issues through SRM program
• Required suppliers to follow environmental and social standards
• Developed a risk profile for each supplier
• Proactively managed water scarcity risks by working with growers and manufacturing personnel

Supply Chain Management

Supplier Audits: 567 suppliers audited (29% of active suppliers)

Responsible Procurement

• Supply Base Requirements and Expectations Manual
• Supplier Sustainability Scorecard
• Supplier Relationship Management (SRM) program

Climate-Related Risks & Opportunities

Physical Risks

• Weather pattern changes impacting agricultural producers

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI G4 Sustainability Reporting Guidelines, Food Processing Sector Supplement

Certifications: Global Food Safety Initiative (GFSI)

Third-party Assurance: Third-party limited assurance review of GHG emissions inventory

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Campbell’s Organic soups
• Plum organic meals and snacks
• Goldfish Snacks with whole grains
• Lower-calorie Homestyle Light soups
• Just Peachy salsa
• Plum Super Smoothie

Awards & Recognition

• Global 100 Most Sustainable Corporations
• Dow Jones Sustainability Indices
• Euronext Vigeo indices
• MSCI Global Sustainability Index Series
• NASDAQ CRD Global Sustainability Index
• Human Rights Campaign Corporate Equality Index (perfect score)
• Produce for Better Health Role Model award
• Corporate Responsibility Magazine’s 100 Best Corporate Citizens

Environmental Metrics

ESG Focus Areas

• Agriculture
• Packaging
• Responsible Sourcing
• Climate
• Water
• Waste
• Safety
• Supplier Diversity
• Human Rights
• Traceability
• Health, Nutrition & Wellness

Environmental Achievements

• Reduced GHG emissions intensity by 39 percent since FY2008
• Reduced energy intensity by 25 percent since FY2008
• Reduced water intensity by 36 percent since FY2008
• Achieved 100% Certified Sustainable Palm Oil (CSPO) by 2016
• Transitioned steel cans to non-BPA linings in the U.S. and Canada by the end of 2017

Social Achievements

• Launched Workplace by Facebook, increasing engagement metrics significantly
• Launched Be Real Circles to empower women in leadership
• Achieved 97% “No Antibiotic Ever” chicken for diced and canned chicken products by the end of 2017
• 12% of Campbell’s egg supply was cage-free as of September 2017
• 34% of Campbell’s pork supply is crate-free as of September 2017

Governance Achievements

• Formalized governance structure ensures sustainability is integrated into daily operations
• Greenhouse gas (GHG) emissions, water and waste performance metrics included in Annual Incentive Plan (AIP) Scorecard
• Updated Campbell’s Human Rights Principles in 2017 to include and codify its long-standing policy for ensuring no forced labor exists in its own operations

Climate Goals & Targets

Environmental Challenges

• Global population growth, water scarcity, climate change and constraints on agricultural land placing massive strain on the food system
• Growing number of people lacking ready access to good, affordable food
• Food-related health issues such as obesity and diabetes continuing to rise
• Consumer demand for greater transparency
• Consumer interest in fresh and healthy foods

Mitigation Strategies

• Revised sustainability strategy to align with value chain and support business intent to be the leading health and well-being food company
• Developed a new set of goals for responsible sourcing, traceability, and emissions reduction
• Improved transparency from farm to fork
• Revamped Strategic Relationship Management (SRM) program to focus on social and environmental responsibility
• Created the role of Director of Responsible Sourcing
• Added positive ingredients, minimized negative nutrients, expanded organic offerings, and removed substances of concern from products
• Advocating for guidelines that tell consumers more about what’s in their food, including mandatory labeling of GMOs

Supply Chain Management

Responsible Procurement

• Responsible Sourcing Supplier Code

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI Standards, GRI-G4 Food Processing Sector Supplement

Third-party Assurance: Third-party limited assurance review for GHG emissions and nutrition data

Sustainable Products & Innovation

• Well Yes! soups
• Goldfish crackers baked with whole grain
• Pace Organic salsa
• Plum Organics Eat Your Colors pouches

Awards & Recognition

• 100 Best Corporate Citizens
• Community Champion Award
• Conscious Capitalism Hero
• Dow Jones Sustainability Indices
• Drucker Institute – Wall Street Journal Top 50
• Euronext Vigeo US 50 and Vigeo World 120 Indices
• FTSE4Good Index
• Human Rights Campaign Corporate Equality Index
• Just Capital JUST 100 list
• MSCI Global Sustainability Index Series
• Produce for Better Health Foundation Fruits & Veggies—More Matters® Industry Role Model

Environmental Metrics

ESG Focus Areas

• Agriculture
• Responsible Sourcing
• Climate
• Water
• Waste
• Community

Environmental Achievements

• Reduced greenhouse gas emissions per short ton of tomatoes by 26% since 2012
• Reduced water use per pound of tomatoes by 25% since 2012
• Reduced Scope 1 and 2 greenhouse gas emissions by 6% since FY2017
• Reduced water use by 9% since FY2017
• Reduced waste sent to landfills by 2% since FY2017
• Reduced food waste by 36% since FY2017
• Kettle Brand redesigned chip bags, resulting in a 43% reduction in plastic and keeping 2 million pounds of plastic out of landfills annually

Social Achievements

• Launched three new training and development programs (perform to WIN, manage to WIN, include to WIN)
• Achieved a 14% reduction in reportable incidents and a 31% reduction in lost-time incidents
• Increased employee volunteer hours
• Formalized five new FY2025 community goals

Governance Achievements

• Linked incentive compensation with sustainability progress for CEO and EVP of Global Supply Chain
• Evolved Sustainability Steering Committee to support new divisional structure
• Organized a workshop with leaders on integrating ESG risk factors into Enterprise Risk Management

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to acquisitions and divestitures
• Meeting evolving consumer expectations regarding sustainability and nutrition
• Integrating ESG risk factors into risk management processes

Mitigation Strategies

• Reevaluated focus areas and targets
• Developed new programs and initiatives to address sustainability and nutrition goals
• Organized workshops and training to integrate ESG risk factors into risk management

Supply Chain Management

Supplier Audits: Increased by nearly 6% over FY2018; supplier auditing will begin in 2020

Responsible Procurement

• Responsible Sourcing Supplier Code
• Sedex membership

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Floods
• Droughts

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: Null

Third-party Assurance: Ernst & Young (limited assurance for Scope 1 and 2 GHG emissions and water data)

UN Sustainable Development Goals

• 2
• 3
• 8
• 10
• 12
• 13

Initiatives contribute to these goals through various programs and commitments related to food security, health and well-being, decent work, reduced inequalities, sustainable consumption and production, and climate action.

Sustainable Products & Innovation

• V8 +Hydrate
• Prego Sensitive Recipe
• Plum Organics Mighty Protein & Fiber Pouches
• Well Yes! Sipping Soups
• Pacific Foods Bone Broths
• Pepperidge Farm Farmhouse Hearty White
• Pacific Foods Barista Series Plant-Based Beverages

Awards & Recognition

• Ranked #22, 50 Best ESG Companies (Investor’s Business Daily)
• Ranked #4, 100 Best Corporate Citizens (Corporate Responsibility Magazine)
• Bloomberg Gender Equality Index
• Forum of Executive Women “Champion of Board Diversity”
• Ranked #93, Corporate Knights: 100 Most Sustainable Companies in the World
• FTSE4Good Index
• Human Rights Campaign Corporate Equality Index (100% Score)
• America’s Most Reputable Companies and World’s Most Reputable Companies (Reputation Institute)
• MSCI Index Series (AA Score)
• Women’s Forum of New York 2019 Breakfast of Corporate Champions
• Fruits & Veggies More Matters® Role Model (Produce for Better Health Foundation)

Environmental Metrics

ESG Focus Areas

• Climate
• Water
• Waste
• Packaging
• Food Safety & Quality
• Transparency
• Community Impact
• Nutrition
• Animal Welfare
• Human Rights
• Board Diversity
• Code of Conduct
• Risk Management
• Customer Satisfaction

Environmental Achievements

• Reduced GHG emissions per short ton of tomatoes by 26% since 2012
• Reduced water use per pound of tomatoes by 23% since 2012
• Reduced nitrogen applied per short ton of tomatoes by 6% since 2012
• Enrolled 70,000 acres of wheat in a fertilizer optimization plan (one year ahead of schedule)
• Reached 91% of packaging transitioned to recyclable or industrially compostable materials by weight

Social Achievements

• Increased compensation for over 11,000 employees for 18 weeks during the COVID-19 pandemic
• Donated over $8 million in cash and in-kind donations to community organizations
• Introduced an actionable inclusion and diversity (I&D) strategy
• Committed $1.5 million in financial support over three years to nonprofit organizations to fight racism and discrimination
• Reduced consumer complaints by 5.5% compared to FY2019

Governance Achievements

• Completed a commodity risk assessment with The Sustainability Consortium
• Launched four new sustainable packaging commitments
• Evolved CR strategy to a more holistic approach with a focus on ESG opportunities
• Integrated five ESG risk factors into the Enterprise Risk Management (ERM) process
• Linked incentive compensation with sustainability progress for CEO and EVP of Global Supply Chain

Climate Goals & Targets

Environmental Challenges

• COVID-19 pandemic impacting operations, audits, and community engagement
• Supply chain disruptions
• Meeting renewable energy goals
• Managing Scope 3 emissions
• Addressing food waste

Mitigation Strategies

• Implemented protective measures for employees during COVID-19
• Leveraged Sedex membership to review supplier audit performances
• Exploring virtual assessments for suppliers
• Working with Science Based Targets initiative to set a Science-Based Target
• Updated Environmental Sustainability Policy and Water Policy
• Developed a decarbonization strategy
• Improved Scope 3 calculation methodology
• Allowed FY2020 grantees flexibility in repurposing funds for immediate needs

Supply Chain Management

Supplier Audits: Four audit requests issued; social compliance audits of 12% of supply through AIM and Sedex

Responsible Procurement

• Responsible Sourcing Supplier Code
• Supplier diversity program
• Commitment to increase diverse spend by 25% over three years

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather, floods, droughts

Transition Risks

• Regulatory changes, market shifts

Opportunities

• Development of energy-efficient products

Reporting Standards

Frameworks Used: GRI Standards: Core option

Certifications: SQF (all Campbell-owned manufacturing facilities)

Third-party Assurance: Ernst & Young (limited assurance for Scope 1 and 2 GHG emissions and water data)

UN Sustainable Development Goals

• Goal 2 (Zero Hunger)
• Goal 3 (Good Health and Well-being)
• Goal 8 (Decent Work and Economic Growth)
• Goal 10 (Reduced Inequalities)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)

Campbell’s material corporate responsibility initiatives and commitments map to all 17 SDGs, with a prioritization of Goals 2, 3, 8, 10, 12, and 13.

Sustainable Products & Innovation

• 7 oz. microwavable soup cups
• Swanson sipping broths
• Campbell’s Tomato A to Z’s condensed soup
• Late July organic chia & quinoa crackers
• Campbell’s chicken broth with white wine & pork ramen broth
• Pacific Foods organic reduced sugar oat original beverage
• V8 +Hydrate

Awards & Recognition

• 100 Best Corporate Citizens (#35)
• Bloomberg Gender Equality Index
• JUST Capital (#81)
• 100 Most Sustainable Companies in the World (#93)
• America’s Most Responsible Companies (#58)
• FTSE4Good Index
• MSCI Index Series (AA)
• Greater Toronto’s Top Employers
• Fruits & Veggies More Matters® Role Model
• Barron’s 100 Most Sustainable Companies in America (#60)
• FMI Foundation Gold Plate Award
• ISS-oekom (Prime status)
• America’s Best Employers for Women (#151)

Environmental Metrics

ESG Focus Areas

• Trusted Food
• Vibrant Communities
• Thriving People
• Healthy Environment
• Governance and Ethics

Environmental Achievements

• Reduced Scope 1 and 2 GHG emissions by 8% since FY2020
• Reduced Scope 3 GHG emissions by 8% since FY2020
• Completed first supply chain water risk assessment
• Redesigned V8 bottle, saving 2.5 million pounds of plastic per year
• Pepperidge Farm signature bags are now fully recyclable

Social Achievements

• Exceeded goal to increase spend with diverse suppliers by 25% (achieved 70% increase)
• Launched Full Futures partnership to improve school food environment
• 96% of people managers completed Inclusion & Diversity training
• 8% reduction in total reportable incident rate since fiscal 2020
• 29% reduction in lost time injuries since 2020

Governance Achievements

• Updated Code of Business Conduct and Ethics to reflect inclusive organization
• Oversight of ESG activities managed by the Governance Committee of the Board of Directors

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to the COVID-19 pandemic
• Increased waste to landfill (66% increase since FY2017 due to regulatory changes, production increases, equipment repairs, and COVID-related turnover)
• Increased pest infestations due to climate change

Mitigation Strategies

• Developed alternative sourcing strategies
• Hired external waste expert to identify alternative disposal options
• Increased employee training to improve waste separation
• Deepened engagement with growers to reduce pesticide risks and strengthen IPM practices

Supply Chain Management

Supplier Audits: Four suppliers underwent SMETA audits in FY2021

Responsible Procurement

• Responsible Sourcing Supplier Code

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather
• Floods
• Droughts

Transition Risks

• Regulatory changes
• Increased stakeholder concern
• Increased cost of raw materials

Opportunities

• Resource efficiency
• Increased demand for sustainable products
• Potential revenue opportunities tied to carbon markets

Reporting Standards

Frameworks Used: GRI Standards: Core Option, SASB Standards for food and beverage companies, TCFD Index

Certifications: Null

Third-party Assurance: Apex Companies, LLC (limited assurance on specific environmental data)

UN Sustainable Development Goals

• Goal 1
• Goal 2
• Goal 3
• Goal 4
• Goal 5
• Goal 6
• Goal 7
• Goal 8
• Goal 9
• Goal 10
• Goal 11
• Goal 12
• Goal 13
• Goal 15
• Goal 17

The report details how various initiatives contribute to these goals.

Sustainable Products & Innovation

• Well Yes! soups
• V8 vegetable juices
• Pacific Foods plant-based soups and broths

Awards & Recognition

• Newsweek America’s Most Responsible Companies
• JUST Capital America’s Most JUST Companies
• Bloomberg Gender-Equality Index
• Forbes America’s Best Employers for Diversity
• Forbes America’s Best Employers for Women

Environmental Metrics

ESG Focus Areas

• Climate Change
• Sustainable Agriculture
• Responsible Sourcing
• Packaging Sustainability
• Energy Efficiency

Environmental Achievements

• 18% reduction in food waste
• 9% of electricity from renewable sources
• 94% of packaging by weight is recyclable
• 122,000 acres of wheat enrolled in wheat sustainability programs
• 95% of tomatoes sourced from suppliers engaged in an approved sustainable agriculture program
• 100% of potatoes sourced from suppliers engaged in an approved sustainable agriculture program

Social Achievements

• $2.9 million donated to Full Futures program since 2021

Governance Achievements

• Board-level oversight of climate-related issues
• Incentives for management of climate-related issues linked to sustainability progress

Climate Goals & Targets

Environmental Challenges

• Supply chain resilience, including commodity availability
• Climate change and sustainability
• Crisis management planning
• Business continuity
• Increased cost of raw materials due to growing demand for lower-carbon commodities
• Increased stakeholder concern regarding climate change
• Potential for new carbon pricing schemes
• Increased expenses for compliance with California Cap and Trade Program
• Waste to Landfill increase

Mitigation Strategies

• Integrated more robust environmental and social risk factors into supply risk assessment processes
• Built and documented contingency plans for high-risk suppliers
• Developed training for buyers and suppliers on environmental and social risks
• Developed a science-based emissions target and initial emission-reduction roadmaps
• Completed an updated water risk assessment
• Dedicated Responsible Sourcing Program
• Public commitments focused on responsible sourcing, traceability, and animal welfare
• Emissions-reduction commitments and public reporting
• Science-based target to address emissions reductions
• Long-term relationships with key suppliers and ingredient hedging program
• Sustainable agricultural activities involving key commodities
• Energy efficiency assessments at manufacturing sites
• Implementation of steam and compressed air leak programs, heat recovery, controls work to maximize HVAC efficiency, installation of VFDs, and other capital projects
• Investment in sustainable agriculture and transparency
• Public goals to increase the volumes of key commodities sourced from farmers engaged in sustainable agricultural programs
• Hiring an external waste management expert to identify alternative disposal outlets for finished goods waste
• Employee training and awareness around waste separation

Supply Chain Management

Supplier Audits: 100% of priority raw materials suppliers (15% of direct suppliers) engaged with Responsible Sourcing Supplier Code

Responsible Procurement

• Responsible Sourcing Supplier Code (RSSC)

Climate-Related Risks & Opportunities

Physical Risks

• Intensified heat and drought cycles
• Flooding
• Extreme weather events and storm damage
• Wildfires
• Grid reliability

Transition Risks

• Increased cost of raw materials
• Changes in carbon pricing or regulatory limits
• Reputational risks due to stakeholder expectations
• Potential for new carbon pricing schemes

Opportunities

• Energy efficiency improvements in manufacturing and distribution
• Increased demand for sustainable products

Reporting Standards

Frameworks Used: Science Based Targets initiative (SBTi), Greenhouse Gas Protocol

Certifications: ISO 14064-3

Third-party Assurance: Third-party limited assurance

Sustainable Products & Innovation

• Vegan and vegetarian products (41% of Campbell’s products)

Environmental Metrics

ESG Focus Areas

• Trusted Food
• Vibrant Communities
• Thriving People
• Healthy Environment

Environmental Achievements

• Reduced Scope 1 and 2 greenhouse gas footprint by 7%
• Reduced the amount of waste to landfill versus fiscal 2022, reversing a previous trend and positioning us to meet our 2025 waste target
• Increased the amount of post-consumer recycled content used in our beverage bottles
• Commenced a 12-year virtual renewable power purchase agreement that will reduce our reported Scope 2 greenhouse gas emissions and contribute to achieving our science-based emissions reduction target

Social Achievements

• Exceeded our goal to source 50% of our tomatoes, potatoes, cashew, and almonds from suppliers engaged in sustainable agriculture programs, two years early
• Launched new regenerative agriculture projects to enhance the sustainability of our supply chain
• Converted our supply chain to gestation-crate-free pork and broiler chickens raised in improved environments, and increased our use of cage-free eggs
• Expanded existing and launched new leadership and talent development programs
• Set a new record for employee volunteer hours
• Supported community organizations with over $2 million in giving from The Campbell’s Foundation

Governance Achievements

• Created a new policy governing safety standards for ammonia handling

Climate Goals & Targets

Environmental Challenges

• Challenges in addressing our goal to reduce landfill waste by 25% when compared to a 2017 baseline (though this was reversed in FY2023)
• Plastic recycling and sourcing recycled content pose challenges across industries
• Climate change poses a risk to the operations and supply chains

Mitigation Strategies

• New efforts at key locations and a partnership with a third-party waste-solutions provider to identify landfill alternatives and initiate new processes
• Testing alternatives to plastic film and evaluating new packaging options for recyclability and recycled content; shifting away from non-recyclable materials
• Setting Science-Based Targets (SBT) to reduce greenhouse gas emissions across Scopes 1, 2, and 3 and implementing strategies and plans to achieve the goals; working with partners and suppliers to find ways to reduce value chain emissions
• Completed evaluations to install on-site solar projects at five of our manufacturing projects

Supply Chain Management

Supplier Audits: 23 active manufacturing sites, associated with 14 suppliers, completed SMETA audits during FY2023

Responsible Procurement

• Responsible Sourcing Supplier Code
• Human Rights Principles
• Coerced Labor in Supply Chains Statement

Climate-Related Risks & Opportunities

Physical Risks

• Intensified heat and drought cycles
• Flooding
• Extreme weather events and storm damage
• Wildfires
• Grid reliability

Transition Risks

• Current and future regulations
• Reputation and increased stakeholder concern
• Increased cost of raw materials

Opportunities

• Renewable energy
• Energy efficiency
• Resource efficiency in direct operations
• Shifts in consumer preferences

Reporting Standards

Frameworks Used: GRI Standards, SASB Standards for food and beverage companies, TCFD

Certifications: Global Food Safety Initiative (GFSI)

Third-party Assurance: Apex Companies, LLC (limited assurance on specific fiscal 2023 environmental data)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Campbell’s Condensed Unsalted Soups
• Pacific Foods Plant-Based Chilis
• V8 Splash beverages (reduced sugar)

Awards & Recognition

• America’s Most Responsible Companies
• America’s Greatest Workplaces for Diversity
• World’s Most Trustworthy Companies
• Canada's Most Reputable Companies
• Greater Toronto's Top Employers 2023
• Bloomberg Gender-Equality Index
• Barron's 100 Most Sustainable Companies