Tyson Foods goes for net-zero under new sustainability agenda
Tyson Foods has outlined plans to achieve net-zero greenhouse gas emissions by 2050 in an update to its previous reduction target.
The meat-processing giant said today (9 June) the commitment underscores its efforts to “combat the urgency of the growing climate-change crisis”. It added the 2050 target includes emissions under scopes one to three.
“Achieving net-zero emissions is a large undertaking which will look at emissions tied to direct global operations, energy sources and throughout the company’s supply chain,” Tyson said in a statement.
The company said its previous commitment was to achieve a 30% reduction in emissions by 2030 to align with worldwide efforts to limit global temperature increases to 2℃.
However, Tyson is adjusting its sustainability strategy in accordance with the Paris Agreement to restrict the rise in temperature to 1.5℃ by the end of 2023.
John Tyson, the meat firm’s chief sustainability officer, said: “As the first US-based protein company in the food and beverage sector to have an emissions reduction target approved by the Science Based Targets initiative, we hope to continue to push the industry as a leader and remain committed to making a positive impact on our planet, with our team members, consumers and customers, and in the communities we serve.
“At Tyson Foods, we believe progress requires accountability and transparency and we are proud to exemplify that as we work to achieve net-zero greenhouse gas emissions by 2050.”
Tyson, which last week revealed the departure of its CEO and president Dean Banks, is also “establishing a pathway” to use 50% renewable energy across its US operations by 2030.
Other initiatives within the climate-change agenda include working to increase Tyson’s current target of using five million acres of grazing pasture for sustainably produced beef and continuing to eradicate the deforestation risk across its global supply chain by 2030.
In terms of biodiversity related to land stewardship, Tyson aims to “complete” its initial target to improve environmental practises on two million acres of US farmland by 2025 after it missed the previous 2020 goal laid out three years ago. The land area currently stands at 408,000 acres. A new 100% target land mass has been introduced by 2030.
Donnie King, who supersedes Bank as president and CEO, said: “Our net-zero ambition is another important step in our work toward realising our aspiration to become the most transparent and sustainable food company in the world. Partnership and collaboration will be critical to our efforts, and we look forward to working with our customers, supply chain partners, and other stakeholders to achieve net-zero.”
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UK agrees free trade deal with Norway, Iceland, Liechtenstein
The UK has inked a free trade deal with Norway, Iceland and Liechtenstein that will see tariffs cut on a range of goods including British exports of cheese.
The UK’s Department for International Trade revealed on Friday (4 June) that a deal with the three countries, also encompassing pork and poultry, had been agreed in “principle”. Norway said the free trade agreement was to be presented to its parliament on Friday with the aim to have it signed off at the start of July.
Tariff cuts of as high as 277% have been secured for exporters to Norway of West Country Farmhouse Cheddar, Orkney Scottish Island Cheddar, Traditional Welsh Caerphilly, and Yorkshire Wensleydale cheese. Tariff reductions and quotas have also been agreed on shipments of pork and poultry.
On imports to the UK, tariffs will be reduced on shrimps, prawns and haddock, potentially supporting 18,000 jobs in the fishing industry in Scotland, East Yorkshire and Northern Lincolnshire, The Department for International Trade said in a statement.
International trade secretary Liz Truss said: “Today’s deal will be a major boost for our trade with Norway, Iceland and Liechtenstein, growing an economic relationship already worth GBP21.6bn (US$30.4bn), while supporting jobs and prosperity in all four nations at home.”
The agreement means British businesses can bid for more government contracts in the three partner countries worth around GBP200m a year.
International trade minister Ranil Jayawardena added: “This deal shows that the United Kingdom will continue to be a trade partner of choice, as we set the global trade agenda in areas like e-commerce and climate change.
“More trade and more investment will drive growth and support jobs in every corner of our country.”
UK-produced wines and spirits including Scotch Whisky also feature in the deal and will “now be recognised in Norway and Iceland”. Caps are also expected to be put in place on mobile phone charges for international roaming.
Under the trade deal, skilled UK workers will be permitted to enter the partner countries for business purposes, while qualifications for professional workers such as nurses and lawyers will be recognised in the three countries.
And it “includes the most ambitious commitment to support investment ever secured by the UK in an FTA, enabling investors to appoint preferred candidates for senior management without being limited by nationality and residency criteria”.
Norway’s Prime Minister Erna Solberg said in a separate statement: “This agreement secures Norwegian jobs and facilitates economic growth, and it marks an important step forward in our relationship with the UK after Brexit. The agreement is important for Norwegian and UK industry, as well as for the Norwegian economy and job creation in Norway.”
That statement noted that the UK is Norway’s second most important market after the EU, with Norwegian exporters shipping NOK135bn (US$16.2bn) of goods in 2020, while imports from the UK amounted to NOK42bn.
Norway said the trade deal “is more comprehensive than other free trade agreements” under the European Free Trade Association (EFTA) and covers small- and medium-sized enterprises and digital industries.
It added: “The free trade agreement establishes an important framework for supporting and further developing economic cooperation on trade valued at over NOK500bn. Trade, investments and the close business cooperation between Norway and the UK will promote value creation, employment and innovation in Norway.”
Norway’s foreign affairs minister Ine Eriksen Søreide said the new trade deal does not replace the European Free Trade Association (EEA) agreement inked in 1994 with EU member states and Norway, Iceland and Liechtenstein.
Norway noted: “Prior to the UK’s withdrawal from the EU, the EEA Agreement provided for free movement of goods, services, capital and people between Norway and the UK. No free trade agreement will provide the same access to the UK market. Nor will it dismantle all the trade barriers that have been removed under the EEA Agreement. The free trade agreement does not set out a common set of rules and principles of mutual recognition that facilitate free movement, which is a cornerstone of the EEA Agreement.”
Flowers Foods moves in for local US peer Koffee Kup Bakery
Financial terms were not disclosed in an announcement made at 4.30pm ET yesterday (7 June).
Last month, Canada-based baker Mrs. Dunster reportedly announced it was the “preferred purchaser” of the assets.
Flowers said its acquisition of Koffee Kup Bakery, based in the north-eastern US state of Vermont, includes three closed bakeries and two brands.
“This acquisition brings brands and production capacity in the north east, a key growth market for our company,” Ryals McMullian, Flowers’ president and CEO, said. “The Koffee Kup and Vermont Bread Company brands have a strong consumer following in the region and we’ll be evaluating their role within our brand portfolio.”
McMullian said Flowers would not instantly open the factories but insisted the company is weighing up what to do with the sites. “We have no immediate plans to reopen the bakeries but will be assessing how they may fit our strategic network optimisation efforts in the future.”
Koffee Kup Bakery, set up in 1940, closed in April. The company marketed bread, English muffins, buns and donuts in the north east of the US.
On 28 May, Mrs Dunster’s announced its plans to buy the assets. It said it planned to re-open two of the company’s bakeries in Vermont and sell the third, located in Connecticut.
Koffee Kup Bakery’s closure had been announced a month earlier, with state-government filings showing 247 staff at the two Vermont bakeries had lost their jobs. A Connecticut state filing did not disclose the number of employees who had lost jobs at the third factory.
At the start of April, US investment firm American Industrial Acquisition Corp. acquired Koffee Kup Bakery.
According to a statement from G2 Capital Advisors, which worked with Koffee Kup Bakery on the deal, the baker was “in the process of repositioning its business to capitalise on a compelling platform of established brands, private label partnerships, long-term relationships with blue-chip retailers and a vast distribution network”. By the end of the month, Koffee Kup Bakery was closed.
Just Food has asked American Industrial Acquisition Corp., Flowers and Mrs Dunster’s for further comment.
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