Hormel Foods, a Fortune 500 global branded food company, was ranked for the first time on the Investor's Business Daily annual report of the 100 Best ESG companies. The list recognizes companies with superior environmental, social and governance (ESG) ratings combined with strong fundamental and technical stock performance.
As part of its Our Food Journey, Hormel Foods created its 20 by 30 Challenge, a set of 20 qualitative and quantitative goals to achieve by the end of 2030 with a focus on environmental, societal and game-changing goals to make the world a better place. Among them are continuing to increase our purchasing spend annually with small and diverse businesses; achieving reductions in our packaging, nonrenewable energy use, greenhouse gas (GHG) emissions, water use and solid waste sent to landfills; as well as supporting regenerative agriculture initiatives. The company's goals were reported on in the 2021 Global Impact Report.
This is the first appearance by Hormel Foods on the Investor's Business Daily annual report on the 100 Best ESG Companies. Hormel Foods continually receives accolades for its ESG initiatives, including being named on Newsweek's 2022 America's Most Trusted Companies list and appearing on its America's Most Responsible Companies list for three years in a row, being recognized as one of the World's Top Female-Friendly Companies by Forbes and receiving several Impact Awards from Progressive Grocer for its educational support and food security programs.
To determine the 2022 100 Best ESG Companies list, Investor's Business Daily started with a company's environmental, social and governance sustainability score created by Dow Jones Newswires. The list was narrowed by removing non-public companies and companies with stock prices below $10 a share or those that lacked sufficient data to create an Investor's Business Daily Composite rating. The 100 companies with the highest Investor's Business Daily Composite Rating were named to the list.
To view the full list of Investor's Business Daily 100 Best ESG Companies in 2022, visit 100 Best ESG Companies.