Climate Change Data

Environmental Metrics

ESG Focus Areas

• Climate Change
• Regenerative Agriculture
• Sustainable Sourcing
• Renewable Energy

Environmental Achievements

• Greenhouse gas emissions footprint decreased 16 percent in 2020 compared to 2010
• 100 percent of our 10 priority ingredients are sustainability sourced
• Generated and used 364,535 gigajoules (GJ) of renewable energy and applied renewable energy certificates (RECs) that equaled 1,205,596 GJ of electricity. These RECs decreased our GHG emissions footprint by 201,862 metric tons CO₂e

Social Achievements

• 86 percent of our employees say that General Mills is a great place to work, up 6 percent from 2019
• 50 percent of professional positions and 32 percent of company officer positions globally are held by women
• Gave US$92 million to charitable causes in fiscal 2020, including General Mills Foundation grants, corporate contributions and food donations

Governance Achievements

• Board-level oversight of climate-related issues within the organization
• Sustainability-linked revolving credit facility

Climate Goals & Targets

Environmental Challenges

• Exposure to acute and chronic physical risks impacting raw material availability due to extreme weather events and changes in weather patterns
• Increased regulatory focus linked to use/pollution of water resources
• Potential increased operating cost with respect towards carbon taxes around the world
• Technological improvements or innovations needed to support the transition to a lower-carbon, energy-efficient economic system
• Reputational risk from stakeholders due to climate-related issues

Mitigation Strategies

• Advancement of regenerative agriculture principles on 1 million acres of farmland by 2030
• Commitment to 100% renewable electricity for global operations by 2030
• Sustainable sourcing of 100% of 10 priority raw materials by 2020
• Five-Step Energy Reduction Process to reduce energy use in facilities
• Investment in R&D for sustainable packaging

Supply Chain Management

Responsible Procurement

• Sustainable sourcing of 100% of 10 priority raw materials

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting raw material availability
• Changes in weather patterns impacting raw material supply

Transition Risks

• Carbon pricing mechanisms increasing operating costs

Opportunities

• Shift in consumer preferences towards organic foods
• Increased reliability of supply chain through climate adaptation plan
• Reduced operating costs through renewable energy programs and energy-efficiency measures

Reporting Standards

Frameworks Used: Greenhouse Gas Protocol, TCFD

Third-party Assurance: Apex Companies, LLC; Bureau Veritas

Sustainable Products & Innovation

• Progresso Organic Soup
• Cascadian Farm cereal box liners made with bio-based plastic film

Awards & Recognition

• Named a "Giga guru" by Walmart for Project Gigaton

Environmental Metrics

ESG Focus Areas

• Climate Change
• Regenerative Agriculture
• Sustainable Sourcing
• Renewable Energy
• Packaging Sustainability
• Employee Well-being
• Workforce Diversity
• Community Investment

Environmental Achievements

• 89% of General Mills packaging recyclable or reusable (by weight)
• 63% renewable electricity sourced for global operations
• 100% of 10 priority ingredients sustainably sourced
• 35 energy efficiency projects completed, saving 4.1 million kWh of electricity and 58,000 MMBTU of natural gas, and avoiding 370,594 metric tons CO2e of GHG emissions

Social Achievements

• 90% of employees say General Mills is a great place to work
• 51% of professional positions and 33% of company officer positions globally held by women
• Global total injury rate significantly below food-industry averages
• $98.3 million given to charitable causes
• Over 80% of employees volunteered in their communities
• Product donations enabled 41 million meals

Governance Achievements

• Board-level oversight of climate-related issues by the Public Responsibility Committee
• Sustainability-linked revolving credit facility and sustainability-linked bond

Climate Goals & Targets

Environmental Challenges

• Reputational risk from inadequate climate change management
• Increased costs due to rising mean temperatures affecting ingredient procurement
• Increased indirect operating costs from carbon pricing mechanisms
• Challenges in sourcing renewable electricity in certain countries (e.g., China)
• Supply chain disruptions due to extreme weather events

Mitigation Strategies

• Advancement of regenerative agriculture principles on 1 million acres of farmland by 2030
• Commitment to 100% renewable electricity for global operations by 2030
• Implementation of energy efficiency projects
• Sustainable sourcing of palm oil and other priority ingredients
• Climate adaptation plan for key ingredients

Supply Chain Management

Responsible Procurement

• Global Responsible Sourcing program
• Supplier Code of Conduct
• Sustainable sourcing requirements for priority ingredients

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting ingredient availability
• Rising mean temperatures increasing costs

Transition Risks

• Increased operating costs due to carbon pricing
• Market shifts in consumer preferences

Opportunities

• Reduced operating costs through energy efficiency and renewable energy
• Increased revenue from consumer demand for sustainable products

Reporting Standards

Frameworks Used: TCFD, GHG Protocol

Certifications: Global Food Safety Initiative (GFSI)

Third-party Assurance: Apex Companies, LLC

Sustainable Products & Innovation

• Products with organic ingredients grown using regenerative practices

Awards & Recognition

• 2030 Food Waste and Loss Champion

Environmental Metrics

ESG Focus Areas

• Climate Change
• Regenerative Agriculture
• Sustainable Sourcing
• Packaging Sustainability
• Renewable Energy

Environmental Achievements

• 92% of North American and Foodservice packaging recyclable or reusable (by weight)
• 87% renewable electricity sourced for global operations
• 100% of 10 priority ingredients sustainably sourced

Social Achievements

• 88% of employees say General Mills is a great place to work
• 50% of professional positions and 34% of company officer positions held by women
• US$90 million given to charitable causes

Governance Achievements

• Board-level oversight of climate-related issues by the Public Responsibility Committee
• CEO and CSO compensation linked to ESG performance

Climate Goals & Targets

Environmental Challenges

• Supply chain disruptions due to extreme weather
• Increased costs due to emerging regulations (e.g., Extended Producer Responsibility fees, carbon taxes)
• Increased operating costs due to rising mean temperatures affecting ingredient procurement

Mitigation Strategies

• Supply Chain Risk & Resilience team to manage critical sites
• Regenerative agriculture program to improve ingredient supply reliability and reduce emissions
• Energy efficiency projects and renewable electricity sourcing to reduce Scope 1 and 2 emissions

Supply Chain Management

Responsible Procurement

• Supplier Code of Conduct
• GHG emission reduction initiatives from suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events impacting supply chain
• Rising mean temperatures affecting ingredient procurement

Transition Risks

• Emerging regulations (e.g., carbon pricing, EPR fees)
• Market shifts in supply and demand

Opportunities

• Renewable energy sourcing
• Energy efficiency improvements
• Increased demand for sustainable products

Reporting Standards

Frameworks Used: GRI, TCFD, Science Based Targets initiative

Third-party Assurance: Apex Companies, LLC

UN Sustainable Development Goals

• Goal 7 (Affordable and Clean Energy)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 15 (Life on Land)

Initiatives contribute to these goals through renewable energy, sustainable sourcing, emissions reduction, and regenerative agriculture

Sustainable Products & Innovation

• Products with organic and sustainably sourced ingredients

Awards & Recognition

• 2030 Food Waste and Loss Champion (USDA, EPA, FDA)

Environmental Metrics

ESG Focus Areas

• Climate change
• Regenerative agriculture
• Packaging

Environmental Achievements

• Reduced emissions by 1% across the entire value chain compared to the 2020 baseline; 49% reduction in owned operations (Scope 1 and 2)
• 87% renewable electricity sourced for global operations
• 92% of packaging in North America Retail and Foodservice segments recyclable or reusable (by weight)
• Reduced food waste in operations by 39% vs. 2020 baseline

Social Achievements

• Increased percentage of people of color in leadership roles and women on the Board of Directors
• Updated Supplier Code of Conduct to include expanded human rights protections
• 88% of employees say General Mills is a great place to work

Governance Achievements

• Formed a Global Impact Governance Committee to oversee global responsibility programs
• Sustainability-linked credit facility and sustainability-linked bond implemented

Climate Goals & Targets

Environmental Challenges

• Scope 3 emissions remain a challenge to full value chain progress
• Supply chain disruptions due to extreme weather events
• Limited supply of sustainable packaging materials

Mitigation Strategies

• Developing an enhanced climate roadmap
• Investing in resources and capabilities to drive progress toward ambitious goals
• Engaging suppliers to reduce their GHG emissions
• Investing in a flexible film recycling plant
• Collaborating with retailers to broaden in-store recycling efforts

Supply Chain Management

Supplier Audits: 337 sites audited in 40 countries in FY22

Responsible Procurement

• Supplier Code of Conduct
• SMETA audits

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events
• Drought
• Flooding

Transition Risks

• Regulatory changes
• Market shifts

Opportunities

• Development of energy-efficient products
• Regenerative agriculture

Reporting Standards

Frameworks Used: GRI Standards, SASB Processed Foods Standard, TCFD, UN Global Compact

Third-party Assurance: Apex Companies, LLC

UN Sustainable Development Goals

• Goal 2 (Zero Hunger)
• Goal 5 (Gender Equality)
• Goal 6 (Clean Water and Sanitation)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 15 (Life on Land)

Initiatives align with SDGs through food security, water stewardship, climate action, and regenerative agriculture

Sustainable Products & Innovation

• Plant-based foods
• Gluten-free products
• Recyclable packaging

Awards & Recognition

• 100 Best Corporate Citizens
• America’s Most Sustainable Companies
• America’s Most Responsible Companies
• World’s Most Admired Companies

Environmental Metrics

ESG Focus Areas

• Climate change
• Regenerative agriculture
• Packaging
• Food safety
• Nutrition
• Hunger relief
• Diversity, equity, and inclusion
• Human rights
• Responsible sourcing
• Workplace safety

Environmental Achievements

• Reduced value chain greenhouse gas emissions by 7% vs. 2020 baseline
• Reduced owned operations (Scope 1 and 2) emissions by 51% vs. 2020 baseline
• Sourced renewable electricity for 97% of global operations
• 93% of packaging recyclable or reusable (by weight)
• 500,000+ acres engaged in regenerative agriculture programs
• Reduced food waste in operations by 19% vs. 2020 baseline
• 51% of owned production facilities achieved zero waste to landfill

Social Achievements

• 90% of employees say General Mills is a great place to work
• $112.5 million in charitable giving
• 48 million meals enabled by food donations
• Launched collaboration with Walmart and Sam's Club to accelerate regenerative agriculture on 600,000 acres
• Expanded Allyship program to 2,500+ employees across 13 countries
• Continued progress towards racial equity goals (minority representation, Black manager representation, spending with minority-owned suppliers)

Governance Achievements

• Global Impact Governance Committee oversees global responsibility programs
• Board of Directors’ Public Responsibility Committee provides oversight
• CEO’s compensation linked to sustainability goals

Climate Goals & Targets

Environmental Challenges

• Significant work ahead to achieve 2030 and 2050 GHG reduction goals
• Challenges in achieving 100% recyclable/reusable packaging by 2030 (film circularity, food safety and quality concerns)
• Addressing racial disparities in food security and education
• Addressing human rights risks in ingredient supply chains

Mitigation Strategies

• Developed Climate Transition Action Plan
• Launched Supplier GHG Program
• Investing in data and technology to improve GHG tracking
• Partnering with organizations to advance regenerative agriculture and improve water stewardship
• Investing in education and infrastructure to improve packaging recyclability
• Collaborating with food banks and anti-hunger organizations to address food insecurity
• Implementing UNGPs to address human rights impacts
• Strengthening Responsible Sourcing program

Supply Chain Management

Supplier Audits: 416 audits in FY23

Responsible Procurement

• Supplier Code of Conduct
• SMETA audits
• Integration of responsible sourcing into sourcing bid process

Climate-Related Risks & Opportunities

Physical Risks

• Extreme weather events, drought, flooding

Transition Risks

• Regulatory changes, market shifts towards sustainability

Opportunities

• Development of climate-resilient products and practices, cost savings from energy efficiency

Reporting Standards

Frameworks Used: GRI Standards, SASB Processed Foods Standard, TCFD, UNGC

Certifications: ISO 14001 (implied), ISO 45001 (implied)

Third-party Assurance: Apex Companies, LLC (GHG emissions)

UN Sustainable Development Goals

• Goal 2 (Zero Hunger)
• Goal 5 (Gender Equality)
• Goal 6 (Clean Water and Sanitation)
• Goal 12 (Responsible Consumption and Production)
• Goal 13 (Climate Action)
• Goal 15 (Life on Land)

Initiatives aligned with SDGs through food security, water stewardship, climate action, sustainable sourcing, and regenerative agriculture.

Sustainable Products & Innovation

• Recyclable packaging
• Plant-based products
• Nutrition-Forward Foods

Awards & Recognition

• America’s Most Responsible Companies (Newsweek)
• 100 Best Corporate Citizens (3BL Media)
• America’s Most Sustainable Companies (Barron’s)
• Member of Dow Jones Sustainability Indices
• FTSE4Good