Business
Calavo Growers, Inc. announces new ESG strategy and commitments
SANTA PAULA, Calif., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of convenient,
About this update from Calavo Growers, Inc.
[{"type":"text","content":"SANTA PAULA, Calif., Dec. 14, 2022 (GLOBE NEWSWIRE) -- Calavo Growers, Inc. (Nasdaq-GS: CVGW), a global avocado-industry leader and provider of convenient, ready-to-eat fresh food, today announced its new sustainability strategy and 2030 goals. Built on four pillars, Climate Action, Social Responsibility, Sustainable Agriculture and Sound Governance, the company's strategy is designed to focus the company's efforts on the environmental, social and governance (ESG) issues that matter most. \"ESG is a top priority for our customers, employees and our investors,\" said Calavo President and Chief Executive Officer Brian Kocher. \"By publicly committing to these goals, Calavo is announcing that we're ready to meet the challenges ahead and committed to doing our part to transform the food industry into something truly sustainable. I’m very excited that we operate a company and within an industry where our ESG goals are completely aligned with our business initiatives and investments to drive customer and shareholder value.\" While Calavo will continue to align its sustainability reporting with the industry standards set out by the Sustainability Accounting Standards Board (SASB), the new ESG strategy places emphasis on four key areas: Climate Action: Reduce Calavo's carbon footprint by 50% by 2030 (against a 2022 baseline) across Scope 1, 2 and 3 emissions.Achieve carbon neutrality for Scope 1 and 2 emissions by 2027Reduce food waste by 50% by 2030 (against a 2022 baseline) Social Responsibility: By the end of 2024, identify opportunities for community partnerships (based on community needs) at all of Calavo’s locationsBy 2025, invest in multi-year partnerships with community organizations at each Calavo location, with a total minimum commitment of $1.5 million Sustainable Agriculture: By 2030, ensure 100% of our growers are engaged in Calavo’s sustainability programBy 2025, validate 100% of our packaging is recyclable, reusable or industrially compostable, andBy 2030, migrate at least 50% of our packaging components to recycled content (by volume) Sound Governance By 2025, integrate ESG into our financial filingsBy 2025, ensure our ESG disclosures are independently assured and/or verifiedBy 2025, integrate ESG into our enterprise risk management systems To support the new strategy and goals, Calavo is revamping its sustainability rep...